Spain has activated the Royal Decree establishing the Registry of Beneficial Owners

Spain has activated the Royal Decree establishing the Registry of Beneficial Owners. Information for the registry will be sourced from existing databases, and all entities falling under the requirement to include their beneficial owners must verify the accuracy of the information by November 19, 2023, and update it if necessary.

Entities that must provide information about their beneficiaries include:

Failure to comply with the requirements for submitting information about beneficial owners constitutes an administrative offense and could lead to the cancellation of the entity’s registration.

All anti-money laundering authorities will have unrestricted and free access to data from the Registry. Paid access to the Registry will be granted to individuals and organizations able to demonstrate a legitimate interest in obtaining information about specific entities.

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