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Amendments to Certain Legislative Acts Regarding Beneficiaries of Legal Entities and Public Figures

The Act provides, among other things, free access to the state land registry of real rights on property. For individuals and legal entities information regarding property rights may be provided in either electronic or paper form.

The state shall maintain an accurate record of all such searches and requests for information to be made available to the property owner upon whom the search has been made.

The law also requires that companies, excluding state and municipal bodies, shall declare and register its final beneficiary and maintain accurate and up to date records regarding this person or body.

N.B. The existing legal entity registered prior to the date of enactment, shall within six months of this date, provide accurate and up to date information regarding its final beneficiary. This also applies to the final beneficiary of their founder if the founder is a legal entity.


02.12.14


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