With just over one month to go before the 22 November deadline,
less than 10% of companies have successfully filed beneficial
ownership details according to the Registrar of Beneficial
Ownership of Companies (Registrar). Rejection rates are currently
running at 26%.
Here we give a flavour of some of the practical issues to watch
out for when complying with the Beneficial Ownership Regulations 2019. As
always, we are on hand to help our clients navigate this new legal
regime.
What must Irish companies do?
Since 2016, most Irish companies must obtain
and confirm their beneficial ownership details and keep their
internal beneficial ownership registers current and accurate. Since June 2019, a further obligation exists
which is to make a public filing of those beneficial ownership
details in the Central Register of Beneficial Ownership of
Companies (RBO) within prescribed time frames. Failure to
comply with these obligations could result in criminal penalties
being
