Irish Central Register of Beneficial Ownership (RBO)
The Irish Central Register of Beneficial Ownership (RBO) is the central repository of statutory
information required to be held by companies in respect of the natural persons who are their beneficial owners.
Irish Companies formed and registered in Ireland under the Companies Act 2014 are required to maintain a Beneficial Ownership Register. The Beneficial Ownership Register includes details of the beneficial interests held.
Filing of Beneficial Ownership data with the RBO
The Beneficial Ownership register with the RBO is filed through their on-line portal.
The purpose of the central register of Beneficial Ownership of companies is to improve corporate trust and transparency in Ireland and the EU by making it clear to law enforcement agencies and regulatory authorities.
The aim of the Directives is to deter money laundering and terrorist financing and to help law enforcement and regulatory authorities to identify those natural persons who hide their ownership or control of Irish companies/societies for the purpose of facilitating illegal activities.
The Criminal Justice Money Laundering & Terrorist Financing Amendment Act 2021 came into effect on April 2021.
Irish Company Beneficial Owner
Beneficial Owner defines as any natural person who ultimately owns or controls a company and includes those persons who exercise ultimate effective control over a company.
The Beneficial Owner of an Irish company is any individual who owns or controls more than 25% of a company’s shares or voting rights, directly or indirectly, or exercises controls over the management of the company in any other way.
Maintaining a Beneficial Ownership Register
Irish companies are to obtain and hold adequate, accurate and current information about their Beneficial Owners in their own internal Beneficial Ownership Register. We can maintain the register and offer a service uploading the register to the Central Register of Beneficial Ownership.
Irish companies have a Legal obligation to report changes in beneficial ownership details to the Central Register of Beneficial Ownership when they occur.
Authorities including the An Garda Síochána, the Revenue Commissioners and the Criminal Assets Bureau have unrestricted access to Beneficial Owner Register.
Central Register of Beneficial Ownership
Under EU anti-money laundering Laws, the Beneficial Owner filed information includes:
- Full Name
- Date Of Birth
- residential address of the Beneficial Owner
- A statement of the nature and extent of the interest held, or the nature and extent of control exercised by, the Beneficial Owner
Filing of Beneficial Ownership
All newly incorporated companies are required to register their Beneficial Ownership details within five months of the incorporation date. We can provide this service when Incorporating your Irish Company to ensure your Irish company fulfils its statutory filing obligations.
A Personal Public Service Number is required for each Beneficial Owner. The Personal Public Service Number is a unique reference number issued to Irish residents and non-residents who have dealings with Irish government agencies. If you do not have an Irish PPSN you must apply for an RBO Number, by means of a Form BEN2 and a notarised declaration as to verification of your Identity.
The following information is required for each Beneficial Owner:
- Company Name
- Company Registration Number
- Full Name
- Date of Birth
- Personal Public Service Number
- Nationality and Country of Residence
- Statement of the nature & extent of interest held
- Statement of the nature & extent of control exercised
- Residential Address
- Date of entry as Beneficial Owner
- Date of cessation as Beneficial Owner
As an addition service we will can file the Beneficial Owner register to ensure your company Irish fulfills its statutory filing obligations and complies with the Criminal Justice Money Laundering & Terrorist Financing Amendment Act 2021.
To find out more about our Irish Company Formation service and filing of the Beneficial Owner Register, please contact us.