We would like to let you know about the consequences of the recent amendment of Act No. 530/2003 on the Commercial Register and on amendment of certain acts entering into force on 1 November 2018 which requires the following be entered into the Commercial Register (i) the identification details of the beneficial owner of a legal entity, which is not a public entity or issuer of securities accepted for trading on a regulated market subject to mandatory publication of information under a specific regulation, an equivalent legal regulation in another European Union member state or equivalent international standard, and also (ii) details that establish the status of beneficial owner under a specific regulation.
Identification details for the beneficial owner are registered in the Commercial Register in the following scope: first name, last name, birth number or date of birth, if no birth number is assigned, address of permanent residence or other residence, nationality and type and number of an identity document, which are not to be disclosed. Registration of the beneficial owner into the Commercial Register regardless of if the company is considered a public sector partner and such registration in the commercial register does not replace the obligation of registering as a beneficial owner of a public sector partner in the Register of Public Sector Partners (if such registration is mandatory for the given entity).
Legal entities registered in the Commercial Register up until 31 October 2018 are obliged to submit a petition to register the details of the beneficial owner into the Commercial Register by 31 December 2019.
Given that we focus on this specific issue as a consulting company, if you need to complete such registration of the beneficial owner into the Commercial Register, please do not hesitate to contact us and we’d be happy to provide you with more information.
