News
Article by Pirkka-Marja Põldvere about new obligation of companies
News portal Delfi has published an article by Pirkka-Marja Põldvere, partner of LEADELL Pilv, in which the senior associate is emphasising that based on the provisions of the Money Laundering and Terrorism Financing Prevention Act entering into force as from 1 September 2018, most of the private limited companies are obliged to disclose information to the Estonian Business Register about their beneficial owner(s). A beneficial owner is considered to be the natural person who ultimately owns or controls a legal person through direct or indirect ownership of a sufficient percentage of the shares or voting rights or ownership interest in that person. The liability for violating the requirement for disclosure of a beneficial owner can be remarkable.
Read more (in Estonian): http://arileht.delfi.ee/news/uudised/advokaat-paneb-sudamele-tegeliku-kasusaaja-andmete-ariregistrile-esitamise-kohustus-on-koigil-ukse-taga?id=83410489