(Pseudo) UBO register
The UBO-register entered into force on September 27, 2020. As of this moment, the beneficial owners of almost all organisations in the Netherlands must be registered in a central and public register. The (pseudo)-UBO needs to be determined per company type and legal entity.
Are you an entrepreneur, shareholder, certificate holder, member of a cooperative or involved in an association, limited liability company, (general) partnership, foundation, church community or ANBI? If this is the case, you must be registered as an ultimate beneficial owner in the Commercial Register of the Chamber of Commerce as of the summer of 2020. After registering, everyone will be able to see (part of your) personal details and the size of your interest within the company, if the entity has to file annual accounts. If you are the responsible person within the organisation for registering the organizstion’s data with the Commercial Register, you will also be responsible for registering the UBO data in the UBO-register.
The UBO-register includes information on every person with an interest of more than 25% in a BV, NV (unless listed), CV, foundation (including a “Stichting Administratiekantoor”) association and denomination established under Dutch law. If no one has an interest of more than 25%, there is no UBO. In that case, a pseudo-UBO will be designated. This means that all statutory directors are designated as a pseudo-UBO. UBO’s of entities established in the Netherlands but not incorporated under the laws of the Netherlands or another EU member state will not be included in the UBO-register.
We can imagine that you might have questions related to this subject. HVK Stevens is more than happy to help you with this topic. HVK Stevens is the legal and tax advisor to entrepreneurs, major shareholders, family businesses, (inter-)national corporates and high net worth individuals. From the experience in our daily practice we know how important your privacy and business information is. We are experts in the field of registering (pseudo-)UBO’s and privacy and asset protection. We are more than happy to provide you with tailored advice, among which:
- Research regarding which information will be accessible to the public;
- Deliberating how you can keep as much control over the public accessible information as possible;
- Administrative support for the registration and maintenance of this obligation.
Would you like to know more about the UBO-register? Click here to read the article (in Dutch) “Het UBO-register is een feit. Wat nu?”, written by Alycke Kootstra, former cadidate-notary at HVK Stevens. For more information about the UBO-register, do not hesitate to contact us.