The Launch of the Central Ultimate Beneficial Owners Register: A New Filing Obligation for Greek Legal Entities

The Launch of the Central Ultimate Beneficial Owners Register: A New Filing Obligation for Greek Legal Entities

KG Law Firm’s partner, Claire Pavlou and junior associate, Amalia Pantazi discuss the implications from the launch of the Central Ultimate Beneficial Owners Register (CUBOR) in Greece in the firm’s latest commercial and corporate NewsFlash.

Pursuant to the provisions of Law 4557/2018, recent Ministerial Decision (MD) 67343/2019 (as amended by MD 73900/2019, Government Gazette issues 2443/B/2019 and 2718/B/2019) regulates specific matters regarding the launch and function of the Central Ultimate Beneficial Owners Register for Greek legal entities.

Law 4557/2018 on the prevention and combat of money laundering and terrorist funding stipulated that all legal entities whose registered seat is in Greece or which conduct business activity taxed in Greece must collect and submit adequate, accurate and up-to-date information on their beneficial owners, i.e. the individuals who ultimately own or control them, to the national register established for this purpose, the CUBOR.

The above MDs set out a number of special relevant provisions, specifying the obliged legal entities, the filing procedure and required information, as well as the accessibility of such information to the public.

To read the details on these provisions, please download the article here.

KG Law Firm’s partner, Claire Pavlou and junior associate, Amalia Pantazi discuss the implications from the launch of the Central Ultimate Beneficial Owners Register (CUBOR) in Greece in the firm’s latest commercial and corporate NewsFlash.

Pursuant to the provisions of Law 4557/2018, recent Ministerial Decision (MD) 67343/2019 (as amended by MD 73900/2019, Government Gazette issues 2443/B/2019 and 2718/B/2019) regulates specific matters regarding the launch and function of the Central Ultimate Beneficial Owners Register for Greek legal entities.

Law 4557/2018 on the prevention and combat of money laundering and terrorist funding stipulated that all legal entities whose registered seat is in Greece or which conduct business activity taxed in Greece must collect and submit adequate, accurate and up-to-date information on their beneficial owners, i.e. the individuals who ultimately own or control them, to the national register established for this purpose, the CUBOR.

The above MDs set out a number of special relevant provisions, specifying the obliged legal entities, the filing procedure and required information, as well as the accessibility of such information to the public.

To read the details on these provisions, please download the article here.