Our Newsletter 4/2017 is focused on the new legislation of the beneficial owner of a legal entity introduced by the novelization of the Act. No. 253/2008 Coll., on the prevention of money laundering and terrorist financing (“the AML Act”), which became effective as of 1st January 2017.
The novelization also amends the Act No. 304/2013 Coll., on Public Registers of legal entities and natural persons, which newly demands the establishment of the Register of the beneficial owners of legal entities and trust funds, whereas the new legislation will be effective as of 1st January 2018. Main changes of this regulation are also included in our Newsletter 4/2017.
