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The status of UBO registers

Minister Van Weyenberg of Finance has informed the Second Chamber about the latest status regarding the UBO registers. Additionally, he has addressed several upcoming changes.



For certain legal entities, there is an obligation to be registered in the so-called UBO register. UBO stands for 'ultimate beneficial owner', which refers to the ultimate beneficiary. This is the person who is the ultimate owner of, or has ultimate control over, a private company (bv), foundation, association, or other organization subject to the registration requirement. The UBO register is primarily intended to combat money laundering and terrorism financing.

Change of interest

Currently, an individual is classified as a UBO if they have more than 25% ownership or control in a legal entity. It is proposed to change this and consider someone as a UBO even with ownership or control of 25% of the interest. As a result, several legal entities will need to report a UBO. Efforts are being made to minimize the administrative burden of this change.

Change in mandatory consultation of the UBO register

Certain institutions are required to consult the UBO register for business transactions. Currently, this can be done via a copy provided by the Chamber of Commerce (KVK). From June 1, 2024, institutions can request this from the client if the institution itself does not have access to the UBO register. The client can then request a certified copy of the registration in the UBO register from the KVK. Once the institution has access, it must retrieve the information itself from the KVK. Additionally, the obligation for this institution to report back in case of identified discrepancies will become mandatory. The number of reports will also be limited in the long run.

Legitimate interest

Organizations with a legitimate interest can access the UBO register. This includes journalists, civil society organizations, and educational institutions involved in preventing and combating money laundering, terrorism financing, and related offenses, as well as natural persons and legal entities intending to engage in a business transaction with another party. Details on how to implement this are being worked out.

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