First registrations in UBO register a fact

The first UBO registrations have now been completed in the new register. As of yesterday, Dutch companies and other legal entities such as foundations are required to register their ultimate beneficial owners (UBOs) in the UBO register.

This registration requirement does not apply to listed companies and owners' associations, among others. Existing entities have until March 27, 2022, to register their UBOs. Newly established organizations must register a UBO simultaneously with their registration in the Trade Register.

Method
The Royal Dutch Association of Civil-Law Notaries has compiled all the information for civil-law notaries regarding the implementation and operation of the UBO register. Documentation proving that a registered person is a UBO is essential when registering UBOs. The Chamber of Commerce (KvK), which holds the register, also has an information page and previously published the 5 most important questions and answers from the KvK about the register and the most frequently asked questions from Wwft institutions.

Application
The Chamber of Commerce (KvK) has developed an application that allows civil-law notaries to register a UBO. The notary profession was involved in its development. The KvK collaborates with Westport Notarissen, among others. Therefore, civil-law notary Lars Boellaard was allowed to make the first registration yesterday.