Germany: New Transparency Register of Beneficial Owners of Private Companies

By: Dr. Jürgen van Kann, Dr. Christian Kleeberg, Dr. Peter Breschendorf

On 26 June 2017, a new Anti-Money Laundering Act (Geldwäschegesetz – “GwG”) entered into force in Germany, implementing the 4th EU Anti-Money Laundering Directive 2015/849 of 20 May 2015 (the “Directive”). Most prominently, the new GwG introduces a so-called Transparency Register regarding ultimate beneficial owners of all non-listed companies. Mandatory filings have to be made at the latest by 1 October 2017.

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