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A Beneficial Owner is defined as any natural person(s) who ultimately owns or controls a legal entity, either through direct or indirect ownership of a sufficient percentage of the shares or voting rights or ownership interest in the entity, including through bearer shareholdings, or through control via other means.

These include:

  • Ownership (directly or indirectly) of more than 25% of the company/society’s shares;
  • Controlling (directly or indirectly) of more than 25% of the company/society’s voting rights;
  • Control through other means may, inter alia, include the criteria of control used for the purpose of preparing consolidate financial statements, such as:
  • Through a shareholders’s agreement,
  • The exercise of dominant influence or,
  • The power to appoint senior management.    

What details are needed to be filed with the Central Register?

The following information is required to be filed for each Beneficial Owner:

  • Company/ Society Name
  • Company/Society Number
  • Surname
  • Forename
  • Date of Birth
  • PPS Number
  • Nationality
  • Address
  • Country of Residence
  • Statement of the nature & extent of interest held
  • Statement of the nature & extent of control exercised
  • Date of entry as beneficial owner
  • Date of cessation as beneficial owner

To find out more about the Register of Beneficial Ownership requirements what it means for your company, don’t hesitate to contact the team on [email protected] or call the office on 094 – 9027426.

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