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  • Writer's pictureEtude Maître Laurent Ries

Oligarch's recourse restricting the acces of the beneficial ownership register (companies register)

Updated: Apr 11, 2023

According to several public announcements and following the judgment of the Court of Justice of the European Union (CJEU) of 22 November 2022, access to the Luxembourg register of beneficial owners (RBO) website via the internet has been temporarily suspended.

The official legal reason: any access without distinction of user quality, although imposed by the text of Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018 amending Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing transposed into Luxembourg law, is contrary, in particular, to Articles 7 and 8 of the Charter of Fundamental Rights of the European Union.

The authorities reopened and restricted the RBO to qualified and supervised professionals..

On the other side the LBR (Luxembourg Business Register) has recently opened for the public a new data base evidencing the running bankruptcy procedures (e.g. list of companies having been declared bankrupt).


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