Disclosure of Beneficial Ownership in 2021 — Luxembourg Perspective (International Insight)

The full-length alert is available for download with the footnotes here.

Following up on previous Client Alerts of this series, this Alert illustrates Beneficial Ownership’s regulation in Luxembourg. By Law of January 13, 2019 (RBE Law), Luxembourg implemented the transparency requirements provided in the Directives (EU) 2015/849 and 2018/843, establishing the “Registre des Bénéficiaires Effectifs”, whose purpose is to collect and make available to the public information on Beneficial Owners of Luxembourg entities.

The Luxembourg Beneficial Ownership regulatory framework has been completed first with the issuance on February 15, 2019 of the Grand-Ducal Regulation setting the rules for the registration with the Beneficial Owners Register and for the general access to the Beneficial Owners Register information, and then with the issuance on February 25, 2019, by the Luxembourg Business Register of Circular no. 19/02, clarifying certain aspects relating to the scope of the Beneficial Owners’ Register and the filings to be made thereto.