Central Register of Ultimate Beneficial Owners

Central Register of Ultimate Beneficial Owners Among the new responsibilities for Polish entrepreneurs, passed by the legislators in 2019, is The Central Register of Ultimate Beneficial Owners in Poland (abbrev. as CRBR)—the governmental public list that gathers information on the ultimate beneficial owners (abbr. UBOs) that directly run Polish companies. It came into force on April 13th, 2020, as an implementation of the EU directive under the law on counteracting money laundering and terrorist financing. The UBO means any natural person(s) who ultimately owns or controls the customer and/or the natural person(s) on whose behalf a transaction or activity is...