Companies have until April to identify real owners – Economy



The companies registered in the Madeira Free Trade Zone are obliged to report to the Justice in the first half of 2019 who their real owners are.

The measure is part of the legislative framework for combating money laundering adopted by Parliament.

According to the schedule laid down in a regulation published yesterday in Diário da República, the communication process with the Institute for Registries and Notaries begins in January 2019 and provides for two phases.

For entities that are subject to commercial registration, such as companies and cooperatives, the deadline ends in April 2019, while the foundations or associations have another month.


Source link

Leave a Reply