INTERNATIONAL TAX PLAZA - Belgian council of ministers approves a draft bill on the establishing of an UBO register

Details: Published: 24 June 2017

On June the 22, 2017 the Belgian Ministry of Finance issued a press release announcing that the Belgian council of ministers approved proposals for draft bills containing anti money laundering measures.

In this respect the council of ministers a.o. approved the establishing of an central Ultimate Beneficial Owners (UBO) register. This register is supposed to contain the data of ultimate beneficial owners of partnerships and other legal entities from all member states. Furthermore the maximum retention period for personal data will be extended to 10 years.

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