THE UBO REGISTER – IMPLEMENTATION INTO THE DUTCH NATIONAL LAW, COMPARATIVE ANALYSIS
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Abstract
Global corporate constructions and complex schemes of money laundering, tax evasion, tax avoidance and terrorism financing have been exercised for many years. In this respect, the more coordinating and efficient steps for combating money laundering and terrorist financing shall be taken. The 4th and the 5th Money Laundering Directives of the European Union oblige its member states to establish central registers for the purposes of reporting the UBOs of the legal entities and other legal arrangements in order to bring more transparency in the corporate schemes. This article examines the possible implementation of the UBO register under the national legislation of the Netherlands and provides a brief comparison with the existing central registries within the EU member states, additionally it describes the forthcoming obligations of the Dutch trust offices and legal entities in relation to the future register and reporting of the UBOs.
How to Cite
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ultimate beneficiary owner, the UBO register, Anti-Money Laundering Directive, terrorist financing, risk based approach, customer due diligence, ownership, control
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