Belgian UBO register - hidden

In the international fight against money laundering and terrorist financing, the EU has introduced an obligation for companies, associations, foundations and trusts to identify and register their ultimate beneficial owner(s), the so-called UBO. Over the past year, the relevant EU Directives have been implemented in Belgian law, and an electronic UBO register has been set-up and is now fully operational.

Although this obligation in principle relates to all Belgian entities, the UBO-administration has indicated that Belgian entities directly or indirectly 100% owned by (certain) listed companies are exempt from the obligation to register their UBO.

Directors of non-compliant entities risk administrative fines up to EUR 50,000. Non-compliance may also be sanctioned by criminal fines.

The deadline for registering the UBOs of your Belgian entities was 30 September 2019, but the UBO-administration indicated that there will be a ‘grace period’ until 31 December 2019, during which it will not penalize companies.

To help you prepare for this filing in a timely and efficient manner, we prepared a toolkit with practical information and questionnaires. Based on the information collected via the questionnaire, we can assist you, if you would desire so, with the identification of the UBO and the actual registrations in the UBO-register.

Content of the toolkit:

• Brochure setting out the key elements of the UBO register in Belgium.
• Frequently Asked Questions, providing more detailed information on specific topics.
• Manual explaining how the legal representative of your Belgian entities can provide a mandate to Loyens & Loeff to make the UBO registration.
• Questionnaires:
  • companies;
  • associations and foundations; and
  • trust and fiduciaries.

Need help? Fill in the questionnaire and we will take care of your UBO registration