Maureen O’Sullivan will be formally appointed in March 2018 as the new Registrar of the Register of Beneficial Ownership of Corporate Entities on foot of the 4th and 5th Anti –Money Laundering Directives.
The Revenue Commissioners will be appointed the new Registrar of Beneficial Ownership of Trusts!
The Central Bank will be appointed the new Registrar of beneficial ownership of the Irish Collective Asset-Management Vehicle Companies
210,000 or more Irish corporates will be required to e-file particulars of their beneficial owners by 30th June 2018 !
In or around 600,000 members or shareholders of Irish companies who since 2016 have already “acquired” new statutory duties requiring them to comply with the latest Anti Money Laundering Beneficial Ownership of Corporate Entities Regulations 2016 and will now come under the spotlight to do “certain things” most likely by 30th June 2018 or face sanctions !
It’s inevitable that the new Beneficial Ownership Regulations will be enforced in 2018!