UBOs (Ultimate Beneficial Owner) are the people who ultimately own or control an organization. A person may qualify as a UBO if they are the ultimate owner of or have control through a direct or indirect interest of more than 25% of the shares, voting rights or ownership interest or have actual control. This applies not only to Dutch BVs and NVs but also to a VOF (a Dutch partnership) , a Dutch foundation, a Dutch cooperative and an association.
The UBO register stems from European legislation. The aim is to prevent money laundering and terrorist financing. The UBO registry makes it more transparent who pulls the strings at organizations established in the Netherlands. Thus, people can no longer hide their financial-economic criminal activities behind Dutch organizations. In addition, because of the openness of the register, the general public can make better informed decisions about with whom it does business.
Each EU country must maintain a UBO register. In the Netherlands, the management of the UBO register lies with the Dutch Chamber of Commerce. Organizations must register UBO’s since September 27. 2020. The registration must take place ultimately before March 27, 2022.
