The UBO-register for trusts and similar legal constructions (the “Trust Register”) entered into force on 1 November 2022. The Trust Register is managed by the Dutch Trade Register. EU member states are obliged to institute a register recording information in relation to the UBOs of trusts and similar legal constructions. This pursuant to the amended Fourth Anti-Money Laundering Directive (EU/2018/843).
What is the Trust Register?
The Trust Register is a publicly accessible register in which personal information about the UBOs of trusts and similar legal constructions (“trusts”) is registered, including certain funds such as the Dutch fund for joint account (fonds voor gemene rekening).
The Trust Register is applicable to trusts of which the trustee (i) resides or is established in the Netherlands, or (ii) resides or is established outside the European Union and on behalf of the trust in the Netherlands enters into a business relationship or acquires real estate.
Who qualifies as UBO for the Trust Register?
At least the following natural persons qualify as UBO for trusts:
What information is to be registered?
The Trust Register includes the following publicly available information regarding trusts:
The Trust Register includes the following publicly available information regarding UBOs:
The following information in the Trust Register should be provided and is not publicly available:
Who has to register the UBO?
Obliged to register the UBO with the Trust Register is the trustee of a trust, or the person fulfilling a comparable position. The application for registration should be done within one week after the trust is established. Upon registration, a unique reference number is assigned to the trust, which must be included in all written statements made on behalf of the trusts.
What about registration for existing trusts?
Trustees have 3 months, as of 1 November 2022, to register the required information with the Trust Register for existing trusts. Therefore, the ultimate deadline for registration of UBOs of existing trusts is set on 1 February 2023.
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