According to amendments in Estonian legislation, each Estonian company starting from 1st September 2018 presents to Commercial Register of Estonia data about its beneficiary. Into internet portal of Commercial register was added a special form for presenting this data.
In the beginning of 2018th new Money Laundering and Terrorist Financing Prevention Act was passed and according to its § 76 и 77 the following data is to be presented:
- Full name of a person.
- Personal identification code (if no – birthdate).
- Country of residency.
- Form of control (direct / indirect).
There are two ways to present this information: via e-Register or in a notary office. And it is only two month for presentation: untill 31st of October 2018.
If this term is overdue, fees shall be applied:
- up to 1 200 euro for Board Member.
- up to 32 000 euro for a company itself.
You may also find this news at Estonian Chamber of Commerce webpage.