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Update on the UBO Register

The EU’s 5th Money Laundering Directive and thus also the requirements with regard to the UBO register had to be implemented in the EU by 10 January 2020. The EEA/EFTA countries usually have more time for the implementation. Thus, the entry into force of the new resp. adapted law on the UBO register was planned for 1 January 2020. However, in the government’s statement on the questions from the first parliamentary discussion, published in September 2020, it was stated that the other EEA/EFTA partner states could not/are not able to meet the deadline and that a delay of a few months was possible. Due to the planned assessment by MONEYVAL at the end of May 2021, Liechtenstein insisted that implementation must take place by then. In the meantime, we have been informed officially that the new law is apparently to enter into force on 1 April 2021.

It is also interesting that, probably due to the delays of the new law, under the current (old) law, legal entities can apply for an official extract from the (current) register themselves – although there is no legal basis for this (such a basis is only provided for in the new law). However, at present, unfortunately, there is no corresponding notice and/or link to the relevant form on the website of the authority. However, the form can be ordered by e-mail and the corresponding retrieval works without problems according to our own experience.,

A further update on the UBO Register within this Blog will follow as soon as details are known which will be regulated in the (not yet published) ordinance.

Please do not hesitate to contact us if you have any questions.