Beneficial Ownership Disclosure
Irish Companies are required to file their beneficial ownership details with the Central Register of Beneficial Ownership of Companies.
The Beneficial Owner is identified as any person who has ownership of over 25% of the shares or voting rights, or through control via other means.
We can file the required beneficial ownership data for your Irish company with the the Central Register of Beneficial Ownership of Companies.
Register of Beneficial Ownership of Companies
The Central Register of Beneficial Ownership of Companies is an office of the Department of Business, Enterprise and Innovation.
The role of the RBO is to provide a central register of beneficial ownership of companies and to make that register available to competent authorities and the general public.
It is a legal obligation in Ireland to file beneficial ownership information with the Central Register of Beneficial Ownership of Companies.
Maintain a Beneficial Ownership Register
There is a requirement under Article 30(1) that applies to all corporate and legal entities in Ireland to maintain a Beneficial Ownership Register.
Information which must be included:
- Name, Date of Birth, Nationality and Residential Address
- A statement of the interest held by the beneficial owner – percentage of the shares in the Company
The company is also required to record
- The date on which each individual was entered into the register as the beneficial owner
- The date on which each individual who ceased to be a beneficial owner
Beneficial Owner Penalty – RBO
Companies which have not already filed with the RBO are advised to do so as a matter of urgency in order to avoid prosecution.
A company which fails to deliver its beneficial ownership details to the RBO commits an offence and shall be liable for a summary conviction, to a fine up to €5,000, or on conviction on indictment.