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The Register of Beneficial Ownership

  • 27-09-2019 3:12pm
    #1
    54and56
    Registered Users, Registered Users 2 Posts: 7,741 ✭✭✭


    Hi,

    I have a small Ltd Co with myself and my wife as the shareholders and Director / Secretary, both of us are Irish citizens.

    I recently got an email from www.rbo.gov.ie stating that under new EU regulations companies are obliged to register their beneficial owners.

    Does anyone here know (because the FAQ on the RBO website doesn't) if the only owners of a company are the registered shareholders and therefore there are no beneficial owners does a filing have to be made?

    Cheers.
    Tagged:


Comments

  • #2
    Claw Hammer
    Registered Users, Registered Users 2 Posts: 6,541 ✭✭✭Claw Hammer


    You and your wife are the beneficial owners as well as the legal owners.


  • #3
    hullaballoo
    Administrators, Entertainment Moderators, Social & Fun Moderators, Society & Culture Moderators Posts: 18,773 Admin ✭✭✭✭✭hullaballoo


    The measure is in place to prevent an infinite untraceable loop of companies being the registered owners of other companies to avoid tax. The RBO is suppose to cut through the layers of veils to establish what natural person ultimately benefits from the company's success.

    Very rich people tend not to own assets in their own names.

    Couldn't tell you why.


  • #4
    54and56
    Registered Users, Registered Users 2 Posts: 7,741 ✭✭✭54and56


    Thanks guys.

    I guess my question is given there are no beneficial owners other than the registered shareholders do I still have to make an entry on the register? It's not clear to me from the FAQs that I do.


  • #5
    capefear
    Registered Users, Registered Users 2 Posts: 783 ✭✭✭capefear


    54and56 wrote: »
    Thanks guys.

    I guess my question is given there are no beneficial owners other than the registered shareholders do I still have to make an entry on the register? It's not clear to me from the FAQs that I do.

    Yep. it’s a separate register from the cro so you have to put you and your wife’s details in as beneficial owners


  • #6
    lydialaois
    Registered Users, Registered Users 2 Posts: 54 ✭✭lydialaois


    Regardin this post came up a question:

    I have a Limited Company with 3 shareholders .The third one is living in Monaco ...I do not know anything from him for years. Now I need him to sign the document because he is not irish and he has not pps number but I can not find him anywhere.
    What happens if we can not send his form because he does not show up?
    Can I get fined because of him?
    I have already sent the requested info but I can not include his form .
    Thanks


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  • #7
    54and56
    Registered Users, Registered Users 2 Posts: 7,741 ✭✭✭54and56


    capefear wrote: »
    Yep. it’s a separate register from the cro so you have to put you and your wife’s details in as beneficial owners

    Thanks

    Guess I'd better get this done tomorrow :-(


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