loader image

On 6 December 2017, bill N°7217 (the Bill of Law) was presented to Parliament in the frame of the implementation of the Directive EU 2015/849 on the prevention and use of the financial system for the purpose of money laundering and terrorism financing.  ATOZ, Taxand Luxembourg, highlights the future obligations to be met and the potential penalties for non-compliance.

 

Creation of a non-public beneficiary register named REBECO

 

The REBECO will be managed by the Luxembourg Trade and Companies Register (RCSL) which will be responsible for maintaining and making information on the beneficial owners (BO) of all entities registered in Luxembourg available, except entities listed on a Luxembourg, European or any other recognised stock exchange (Concerned Entities).

 

Information concerning registration of information via the RCSL will be further detailed by a Grand Ducal Regulation.

 

Discover more: Creation of a central register of beneficial owners of companies and legal entities

Thank you for downloading

For similar content to our Global Guide, subscribe to our mailing list and keep up to date.

* indicates required
Megaphone Icon

Taxand's Take

Access to the REBECO

 

The following categories of persons will have access to varying degrees of information included in the REBECO:

  • National authorities
  • Judicial authorities
  • Professionals subject to the amended law of 12 November 2004 on the fight against money laundering and terrorism financing, within the framework of their customer due diligence obligations
  • Self-Regulatory Organisations (Bar, Chamber of Notaries, IRE, OEC, Chamber of Bailiffs) exercising their supervisory function in the context of the fight against Money Laundering and Terrorism Financing
  • Any resident person/organisation that can prove a legitimate interest

Crosshairs Icon

Article tags

International Tax | Luxembourg

Newsletter

Keep up to date with news, views and insights from Taxand

Search