Beneficial Ownership Registers

The STEP Handbook for Advisers
1. Auflage 2021
ISBN: 978-1-78742-415-9
Verlag: Globe Law and Business
Format: EPUB
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 368 Seiten, EPUB

Beneficial ownership registers were introduced in the European Union (EU) under the 4th and 5th Anti Money Laundering Directive, with the ultimate goal of promoting increased transparency in the financial markets. Nevertheless, public access to the beneficial ownership information of companies and other legal arrangements, such as trusts, raises significant issues in relation to each individual's fundamental right to privacy, and consequently many EU member states are still struggling to strike the right balance between transparency and privacy. As a result, the implementation of beneficial ownership registers has been delayed in many EU member states and different legislative choices have been made in the various jurisdictions. Since beneficial ownership registers do not only apply to entities incorporated or administered in an EU jurisdiction, but may also extend to foreign entities with some business connection to that jurisdiction, it is essential to master these differences.

This book, co-published with STEP, the world’s leading organisation for private wealth professionals, provides an in-depth analysis of the beneficial ownership registers legislation in a number of EU jurisdictions as well as in the UK, which pioneered it with the creation of its own ‘PSC Register’. It also looks at similar initiatives being experienced in some leading international financial centres as well as in the US.

It includes coverage of:

The functioning of beneficial ownership registers in selected EU jurisdictions;
The differences between the beneficial ownership registers for companies and those for trusts, which are maintained in many EU member states;
Practical comparisons on the possibility for individual beneficial owners to apply for their personal information to be withheld from public access;
The ways of complaint in case such an application is not accepted; and
Special cases such as the treatment of an EU company controlled by a trust or a foundation.
The first to comprehensively approach this topic, this title will benefit private client advisers (lawyers, notaries, accountants) and family officers whose clients have business interests in the EU. The registration of the details of beneficial owners has become a new variable to be considered in any estate planning or asset protection exercise and more generally in any circumstance where a company or any other legal arrangement is created. It is therefore essential reading for anyone involved in any of these fields.

Autoren/Hrsg.

Weitere Mitwirkende

Panico, Paolo

Fachgebiete

• Wirtschaftswissenschaften Betriebswirtschaft Management Compliance
• Rechtswissenschaften Wirtschaftsrecht Handels- und Gesellschaftsrecht Registerrecht und Verfahrensfragen

Inhaltsverzeichnis

Introduction: the 4th and 5th AML Directive
Paolo Panico
Paolo Panico’s Law Chambers Private Trustees SA

Austria
Christiane Edelhauser
Michael Petritz
KPMG Austria

Belgium
Saskia Lust
Loyens & Loeff

Crown Dependencies
Paul Matthams
Stonehage Fleming

Cyprus
George Economides
E&G Economides LLC

Czech Republic
Šte?pán Holub
Holubová advokati s.r.o.

France
Jérôme Barré
Barré & Associés
Stéphanie Auferil
Arkwood

Germany
Susanne Stauder
Heuking Kühn Lüer Wojtek

Greece
Petros-Fotios Chr. Fatouros
Angeliki Chimona
Phi Lambda Law Firm

Ireland
Aileen Keogan
Aileen Keogan Solicitor & Tax Consultant

Italy
Luigi Belluzzo
Belluzzo International Partners

Liechtenstein
Johanna Niegel
Allgemeines Treuunternehmen

Luxembourg
Paolo Panico
Paolo Panico’s Law Chambers Private Trustees SA

The Netherlands
John Graham
Graham, Smith & Partners

Poland
Aldona Leszczyn´ska-Mikulska
Tomasz Piejak
GWW

Portugal
Nuno Cunha Barnabé
António Vidal
ABREU

Slovenia
Tatjana Andoljšek
OPAM LAW Luxembourg, Slovenia

Spain
Alberto Perez Cedillo
Alberto Perez Cedillo Spanish Lawyers and Solicitors

United Kingdom
E N Reed
Iskra Doukova
Macfarlanes LLP

United States
Todd D Mayo
UBS