What will be the future fate of the register of beneficial owners?
Your company has certainly had its fair share with the beneficial ownership register. After the Beneficial Owners Registration Act came into force, the first thing necessary was to find out the beneficial owner of your company. Next, the conditions for successful registration in the register of beneficial owners had to be fulfilled and then the registration had to be carried out at the registry court or through a notary.
Shortly after the first anniversary of the Beneficial Owners Registration Act, an amendment was adopted which changed the concept of beneficial owner in accordance with the requirements of the European Union. At the end of November 2022, there was another new development – the CJEU ruled that the register of beneficial owners must now not be publicly accessible to everyone. However, the register of beneficial owners in the Czech Republic is currently public. Therefore, it is very likely that the Czech Republic will have to deal with this CJEU decision in the future, e.g. by making the beneficial owner register available only to selected entities. However, it has not done so, yet.
Therefore, at the moment nothing has changed in the czech beneficial ownership register. We will continue to monitor the situation for you and will keep you informed of further news.