Obligation to apply for the registration of ultimate beneficial owner in the Commercial Register

Since 1 November 2018, every company already registered with the Commercial Register before 31 October 2018, shall apply for the registration of its ultimate beneficial owner in the Commercial Register until 31 December 2019 under the threat of the penalty up to 3,310.00 EUR. This obligation does not apply for the entities registered with the Register of Public Sector Partners. New company shall not be registered into the Commercial Register without identification of the ultimate beneficial owner. Information about the ultimate beneficial owner is registered in non-public part of commercial register.