Following enactment of Law 4607/2019 amending Law 4557/2018, the Ministry of Finance has issued a decision setting up the Central Ultimate Beneficial Owner Register (the “Central UBO Register”). The initial filing obligation should take place before the end of year 2019.
Click here for the GR version– Πατήστε εδώ για το ελληνικό κείμενο
- The scope of the registration obligation becomes broader: Each legal entity having a registered office in Greece or conducting any business activity that is taxable in Greece (such as a Greek branch of a foreign company), is subject to the obligation of collecting and keeping adequate, accurate and up to date information on their UBOs in a special register kept at their registered office.
- Listed companies are exempt from the requirement to keep a special register since such companies are in any case required to keep a notifications’ record in accordance with Law 3556/2007. Listed companies are registered automatically with the Central UBO Register through an interface between the Central Securities Depository and the “GSIS” e platform. To the contrary, the requirement to keep a special register applies to subsidiaries and any branches of domestic or foreign companies whose ultimate parents are listed companies in Greece or abroad.
- Registration of data with the Central UBO Register will take place via the “GSIS” e‑platform in three stages:
Group A: from 16.09.2019 to 14.10.2019
The first group includes Greek shipping companies including shipping companies under law 959/1979 and Greek offices of foreign shipping companies established under article 25 of Law 27/1975.
Group B: from 30.09.2019 to 01.11.2019
The second group includes private companies, Greek branches of foreign companies, foundations and joint ventures.
Group C: from 14.10.2019 to 29.11.2019
The third group, includes companies taking the form of a société anonyme or a limited liability company, as well as partnerships (general/limited partnership) which do not fall into Groups A and B above
- Access to the data of beneficial owners is no longer limited to persons having a proven legitimate interest as was the case until now: for a special fee, the public will now have access to specific UBO information, such as their full name, nationality, nature and scope of the beneficial interests.