Since 27 September 2020, companies have been able to register their UBOs in the UBO register. Companies must do so before 27 March 2022 to do.
Chamber of Commerce
In the Netherlands, the UBO register forms part of the Commercial Register. All companies will receive a letter from the Chamber of Commerce requesting that they register their UBOs. The letter states that you have six weeks to register the UBO. The Chamber of Commerce hopes this will help spread the workload. You are not obliged to register the UBO within these six weeks, but you are obliged to do so before 27 March 2022.
In our previous article We have discussed the UBO register on several previous occasions. Please find a brief summary below.
What is a UBO?
The UBO (Ultimate Beneficial Owner) is a natural person who holds an interest in a company that exceeds 25%. This interest may consist of shares or voting rights, but may also consist of ultimate control. A structure is examined until at least one UBO has been identified.
Pseudo-UBO
In some cases, there is no UBO, as there is no natural person with a holding exceeding 25%. In such cases, a pseudo-UBO is designated, namely the organisation’s board.
Public data
The following information is made public in the UBO register:
- first name and surname;
- year and month of birth;
- nationality;
- household status;
- the nature and extent of the economic interest. The exact size of the UBO’s interest is not disclosed, but the range within which it falls is: 25% – 50%, 50% – 75%, 75% – 100%.