19/09/2023
The Procedure for verification by the state registrar of information provided by a legal entity about the UBO and the ownership structure has been updated
From October 1, the order of the Ministry of Justice of September 14, 2023 No. 3265/5, which approved the Procedure for checking information submitted by a legal entity in the explanation and documents to confirm information about the ultimate beneficial owner (UBO) and/or the ownership structure of a legal entity, enters into force.
According to this Procedure, the state registrar starts checking information about the UBO and/or the ownership structure within 10 working days from the date of receipt of the relevant documents from the legal entity. It may require individuals and legal entities to provide the necessary information and documents, including access to the legal entity's premises for inspection of things and documents.
After the inspection, the state registrar forms a notification letter, which indicates the results of the inspection and other relevant information. This notification letter is submitted to the Ministry of Justice. The Ministry of Justice has the right to make changes to the Unified State Register about the UBO and/or the ownership structure of a legal entity in the cases provided for by the Procedure.
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