France: Declaration of beneficial owners
March 08, 2018|| ReportsFrance
A new French Law, to be conformed with European law, instituted a new obligation for commercial companies, civil companies and associations.
This is the declaration of the beneficial owners of these entities at the commercial register.
The objective is to know the name of the natural persons behind legal entities and thus better fight against criminal activities (money laundering, terrorism …).
Before April 1, 2018, a declaration must be made to the commercial register. Unless compliance, the penalty is 6 months in prison and 7500 € fine.
See more information here.
In Sweden this legislation is know as “verklig huvudman”, see more information here.
Just contact us if you need help to make this registration at the commerce registry.