Beneficial Ownership

What is a beneficial owner?

The EU Anti Money Laundering 4th Anti Money Laundering Directive that deals with beneficial ownership of corporate entities 2016 regulations defines a beneficial owner as a natural person that controls at least 25% of a company’s share capital, either directly or indirectly. As Ireland is part of the EU, all companies located within are required to comply with this AML requirement ongoing.

The EU Anti Money Laundering 4th Anti Money Laundering Directive that deals with beneficial ownership of corporate entities 2016 regulations defines a beneficial owner as a natural person that controls at least 25% of a company’s share capital, either directly or indirectly. As Ireland is part of the EU, all companies located within are required to comply with this AML requirement ongoing.

An internal company register is required to be maintained as well as the information being provided to the Central Register.

This will apply to all new or existing companies that were registered under The Companies Act 2014. Only entities incorporated in Ireland apply.

Any person who owns 25% or more of a company in any way is required to file. The directive also covers people who do not have share capital but who do have a controlling interest through other means.

Cases under which indirect ownership can exist include through a corporate entity as a shareholder, or within a trust structure. Regardless of which type of beneficial owner a person is, there is a requirement to file and disclose all related details of any ultimate beneficial owner.

What information needs to be disclosed?

The following information will be required to be disclosed as part of the filing:

  • Full name
  • Date of birth
  • Nationality
  • Residential address
  • A statement of the nature and extent of the interest held by the beneficial owner
  • PPS number Learn more

Who has access to this register of beneficial owners?

Under the AML5D, the CRO will make low-level access of the Central Register data available to the public. The following information will be publicly accessible:

  • Name
  • Extent of beneficial ownership
  • Nationality
  • Country of residence
  • Part of date of birth (month and year)
High-level access will be granted to competent authorities with a ‘legitimate interest’ including the Revenue Commissioners, law enforcement agencies (i.e. In Ireland the Financial Intelligence Unit of the Gardaí), banks including the Central Bank, credit institutions and Accountants or Lawyers undertaking customer due diligence requirements.

Branch offices in Ireland will have their reporting requirements in the country of incorporation. There are times where no entity or individual claims having beneficial ownership, and in these cases the companies must register the name of the person who holds the most senior position, which is usually the name of the CEO.

  • Restricted access to the database is made public whereas unrestricted access is given to law enforcement agencies.

BOR Packages

  • Beneficial Owner With PPS No €69 ex vat
  • Beneficial Owner Without PPS No €149 ex vat