There is news related to the UBO-register! After the implementation of the UBO-register has been postponed several times, there now seems to be a date when the register will be implemented.
The bill was adopted on 23 June 2020. Subsequently, the implementation act was published in the Dutch Bulleting of Acts and Decrees on 7 July. The associated decree establishing the date implementation shows that there are two important dates in relation to the UBO-register.

This blog only reports about the dates of implementation, for an elaboration of the content of the UBO legislation I would like to refer you to our earlier blogs on this subject.

8 July 2020
A number of changes were made on 8 July 2020. As of this date, article 2:290 of the Dutch Civil Code will stipulate that foundations must keep an internal register with details of beneficiaries with benefits of 25% or less. These beneficiaries do not qualify as UBOs, as there is only an UBO in the event of a distribution of more than 25%. The internal register as referred to in Section 2:290 of the Dutch Civil Code is therefore a separate register and exists in addition to the UBO register.

In addition, the UBO definition, the obligation for legal entities to collect and keep up to date data on their UBOS and the cooperation obligation entered into force on 8 July.

27 September 2020
The main changes will be implemented on 27 September 2020. This mainly concerns the amendment of the Trade Register Act, which includes the obligation to register UBO data. The Trade Register Act stipulates that existing registration obligators have 18 months from the entry into force of the Act to register their UBO data with the Trade Register. This means that the registration period ends in March 2022. In addition, from this date the verification obligation and the feedback obligation will be introduced.

The amendments to the WWFT Implementation Decree and the Trade Register Decree have not yet been published in the Bulleting of Acts, Orders and Decrees. The date of implementation of the amendments to these decrees is therefore yet unknown.