Ultimate Beneficial Owner

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The Ultimate Beneficial Owner (UBO) is a new EU law that comes into existence by 31 October 2018. Enterprises and organisations are obliged to declare relationships with other entities. This is to detect and avoid money laundering.

Functionality[edit]

Avoid (international) financial abuse (fraud, terrorism).

Implementation[edit]

The Ministry of Finance of Belgium keeps a register.

Declaration of the natural persons that are responsible for the Non-profit organisation: the Board.

It is sufficient to complete and maintain the register at the MinFin web site before 31 March 2019, and after each change.

Why isn't this (automatically) linked to the statutory publication? Why is another register necessary?

Penalties[edit]

Non-compliance can cause huge penalties.

Registration[edit]

External links[edit]

See also[edit]