Companies have until April to tell justice who their owners are
Portugal
At the beginning of next year companies will have to communicate who their effective beneficiaries are. Companies have until April to tell justice who their owners are.
All companies are obliged to notify to Justice who their beneficiaries are until April next year, in the framework of the Central Registry of the Beneficiary (RCBE), a database that will be used to prevent money laundering.
According to an ordinance published on Tuesday in the Diário da República, the deadline for entities subject to commercial registration to make this communication lasts until April 2019. This, because the "registry] RCBE] consists of a database, with sufficient, accurate and current information about the person or natural persons who, indirectly or through a third party, have the ownership or effective control of the entities subject to it. "
This communication will be made through the completion of a digital form that will be made available by the Institute of Registries and Notaries.
