Article 30(1) of the EU’s Fourth Anti-Money Laundering Directive (4AMLD) requires all EU Member States to put into national law provisions requiring corporate and legal entities to obtain and hold adequate, accurate and current information on their beneficial owner(s) in their own internal beneficial ownership register.
Article 30(3) of 4AMLD requires that the information referred to above be held in a central register in each Member State.
A Statutory Instrument, No 110 of 2019, to establish a Central Register of Beneficial Ownership of Companies and Industrial and Provident Societies (RBO) was recently signed into law by the Minister for Finance. A link to SI 110/2019 is provided here: http://www.irishstatutebook.ie/eli/2019/si/110/made/en/pdf.
This legislation provides for the appointment of a Registrar of Beneficial Ownership of Companies and Industrial & Provident Societies. Statutory Instrument No 560/2016, which required all corporate and legal entities to hold adequate, accurate and current information on their beneficial owner(s) in their internal register, has been revoked and replaced by SI 110 of 2019 with immediate effect.
UPDATE: 24th July: The Registrar of Companies has been appointed as the Registrar of Beneficial Ownership of Companies and Industrial & Provident Societies with effect from 29 July 2019. Accordingly, the RBO will open to accept filings from Monday 29 July.
Filing of beneficial ownership data can only be made on-line through a portal on the RBO website at www.rbo.gov.ie. There are no paper forms and no filing fees involved. Companies and societies will have until Friday 22 November to file their data with the RBO without being in breach of their statutory duty to file. The RBO will write to each company and Industrial & Provident Society about their filing obligations in the coming days.
Central Register of Beneficial Ownership (RBO) Website
The new website for the Registry of Beneficial Ownership has now launched: https://rbo.gov.ie/.
The RBO website is designed to give companies and societies as much information as possible to assist you in meeting your beneficial ownership filing requirements. There is a comprehensive Frequently Asked Questions (FAQs) on this website which will help guide you through your beneficial ownership filing requirements. The information provided in the FAQs does not constitute legal advice and, if in doubt, companies/societies should obtain their own legal advice.
Copyright 2019 Public Office Address: Companies Registration Office, Bloom House, Gloucester Place Lower, Dublin 1. Phone: +(353 1) 8045200
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