Revised Timelines For Launch Of Beneficial Ownership Central Register

The Department of Finance has confirmed that the beneficial ownership central register (the "Central Register") will be introduced in the fourth quarter of 2017.

The introduction of the Central Register is the second part of Ireland's implementation of the beneficial ownership regime under the Fourth Anti-Money Laundering Directive EU/2015/849 ("4AMLD"). The requirement to create and maintain an internal register of beneficial owners was introduced for the majority of corporate and other legal entities with effect from 15 November 2016. This forms part of a broader revision of the EU anti-money laundering framework under 4AMLD, including a greater emphasis on a risk-based approach to addressing money laundering.