Political parties ask whether mandatory UBO registration will be postponed

Several political parties are asking the Minister of Finance, Sigrid Kaag, to postpone the mandatory UBO registration. They, like the Confederation of Netherlands Industry and Employers (VNO-NCW) and the Dutch Association of Small and Medium-Sized Enterprises (MKB-Nederland), are concerned about the privacy of individuals registered in the UBO register and are citing an opinion from the Advocate General of the European Court of Justice.

Both business advocacy groups previously urged the government not to insist on March 27, 2022, as the deadline for registering UBOs in the UBO register. They want the government to first await the ruling of the Court of Justice of the European Union in a case concerning the Luxembourg UBO register. This ruling will examine the validity of certain directive provisions for the register.

Registration is behind
In response to this call, the SGP, VVD, and CDA submitted written questions to Kaag. Chris Stoffer (SGP) wants to know from the minister, among other things, what the consequences will be for businesses, churches, and charities that do not register on time. According to Stoffer, registration is lagging behind. He asks Kaag if she is willing to postpone the deadline of March 27, 2022. He also asks Kaag if the Advocate General of the Court of Justice of the European Union is correct in stating that UBOs have the right to know who has requested their data. And if so, whether the legal framework will be amended to facilitate this.

Privacy
Like Stoffer, Eelco Heinen and Hawri Rahimi (both VVD) are concerned about the privacy of UBOs. They ask whether the Minister acknowledges that the Dutch UBO register in its current form is not in line with the Advocate General's recommendation. They also want to know from Kaag whether it is true that, under European regulations, data protection should not be unnecessarily complicated.

Court ruling
The CDA (Christian Democratic Appeal) emphasizes the concerns of entrepreneurs and privacy organizations about the public availability of data on major shareholders. Members of Parliament Inge van Dijk and Hilde Palland ask Kaag whether she considers it sufficient that data is only protected if a UBO is on a police protection list. Like the other questioners, they also ask whether the deadline for registering UBOs will be postponed until the Court of Justice has issued its ruling.