Register Of Trusts

In April 2018, the European Parliament is expected to adopt the EU's 5th Anti-Money Laundering Directive (5AMLD), as agreed by EU Member States on 13th December 2017. In respect of registers of trusts, the following was agreed:

• Member States will have to grant public access to information held on each Member State's register of trusts, subject to a "legitimate interest" test, the conditions for which must be defined in law by each individual Member State.
• Access to the register of trusts must also be granted to any member of the public in relation to a trust which holds or owns a controlling interest in a company that is not incorporated in the EU (and is therefore not included in any Member State's register of beneficial ownership of companies);