The Dutch legislator has provided more clarity on further
transparency of UBO information based on EU 4th Anti Money
Laundering Directive.
On 31March 2017 the draft bill on the implementation of the
Ultimate Beneficial Owner (UBO) register in
The Netherlands was presented for public consultation. The bill
seeks to implement the obligation to maintain a central register
with information on the ultimate beneficial owners of legal
entities based in the Netherlands and finds its origin on the
obligation contained in the EU 4th Anti Money Laundering
(AML) Directive (European Directive 2015/849).
EU member states require countries to implement related
legislation no later than 26 June 2017. The UK and Ireland have
implemented legislation, the Netherlands made the first step and
other EU member states are expected to follow with similar bills on
implementation in the coming months.
