The Central Register of Beneficial Ownership of Companies (RBO)

As part of Ireland’s implementation of the Fourth EU Anti-Money Laundering Directive (AMLD4), all Irish Companies are required to:

Create and maintain an internal register of the ultimate beneficial owners.

A beneficial owner is defined as a natural person(s) who ultimately owns or controls the corporate entity through a percentage of the shares or voting rights. Any person(s) holding more than 25% of shares is considered to have ownership or control.

If no beneficial owner can be identified, the name of senior managers including directors and CEO will be entered into the internal register as the beneficial owners

The company will have until 22 November 2019 to file the required details of its beneficial owners with the RBO through the RBO website – www.rbo.gov.ie –. If the company fails to complete the required filing by 22 November 2019, it may be guilty of an offence under the Regulations and may result in prosecution.

Duignan Carthy O’Neill Limited can assist you with the submission of the Beneficial Owner Details with the RBO.