Luxembourg’s new UBO register

Effective on March 1st, 2019, Luxembourg has enacted a register of Ultimate Beneficial Owner’s (UBO), implementing provisions of the fourth Anti-Money Laundering Directive dated May 20, 2015 (the “AML Directive”). The new register will record information on individuals having effective control in entities that are in Luxembourg which aren’t listed on an exchange market. The effective control can be either a direct holding of a higher percentage of shares or certain voting rights.

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