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States are required to establish central registers, where the data about the real beneficial owners of companies and foundations would be gathered

2015-05-03 15:15
Legal news

The European Parliament and member states of the EU agreed the terms of fourth directive against money laundering. The directive demand the members of EU to establish central registers, where the data about the real beneficial owners of companies and foundations would be gathered. In the article the criteria of natural person as beneficial owner is discussed. Moreover, states are given proposals associated with the collection of data in public registers about beneficial owners. Hopefully, the establishment of these beneficial owners registers will join the fight against money laundering and extensive tax evasion.

Full article in Lithuanian is here.

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