As announced in our previous article, the draft bill proposes the implementation of the Register which keeps information about the identity of the UBOs of Luxembourg registered entities.
The information to be provided to the Register includes in particular the following items of (each of) the UBO(s):
- Full name, date and place of birth;
- Nationality(ies) and country of residence;
- Private or professional address;
- National or foreign identification number (e.g. ID card/passport number); and
- Information (nature and extent) of the beneficial interest held in the relevant corporate/other legal entities.
Initially limited to certain person, these information should be accessible, under the new government amendments, to all people requesting access to the Register.
The access to the Register should be made by electronic way in accordance with modalities to be fixed by a Grand-Ducal Regulation.
Tiberghien Luxembourg remains committed to monitor the progress of the implementation of the UBO register within Luxembourg (and within other Member States). For any questions, please contact your trusted advisor at Tiberghien Luxembourg or contact any of the authors of this publication.
Maxime Grosjean - Senior Associate (email@example.com)
Stephen Lamothe - Associate (firstname.lastname@example.org)