Notaries will regain access to the UBO register after a change in the law

Agencies with a statutory duty to prevent and combat fraud, money laundering, and terrorist financing will regain access to the UBO register following a change in the law. This includes notaries. In addition, individuals and organizations with a legitimate interest, such as the press and charities, will be granted access. The Ministry of Justice and Security announced this in a news release today.

Access to the register for ultimate beneficial owners (UBOs) was restricted last year following a ruling by the European Court of Justice . The court declared the public nature of the UBO register invalid. Notaries, banks, and competent authorities will thus once again have access to information about ultimate beneficial owners (UBOs) from the registers to combat and prevent money laundering.

Amendment to the law
Following the court's ruling, a legislative amendment is in the works. Earlier this year, itwent out for consultation , after which the proposal was amended. The most important amendment is that other government bodies, such as municipalities and provinces, can also access the UBO register to prevent, if necessary, the government from being misused for criminal activities.

Follow-up
The Cabinet today approved the amendment bill proposed by Finance Minister Kaag, Justice and Security Minister Yesilgöz-Zegerius, and Economic Affairs and Climate Minister Adriaansens. The bill will now be submitted to the Council of State for advice, followed by parliamentary consideration.