Netherlands: Draft Law Establishing Ultimate Beneficial Owners Register

On April 3, 2019, the bill amending the Business Register Act (Handelsregisterwet), the Law for the Prevention of Money Laundering and Terrorist Financing (Wet ter voorkoming van witwassen en financieren van terrorisme) and the Economic Offences Act (Wet op de economische delicten) was introduced to parliament, to set up a central register of ultimate beneficial owners (UBO) as required by Directive 2015/849 (4th AMLD) and Directive 2018/843 (5th AMLD), and which will form part of the Trade Register of the Chamber of Commerce.

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