Establishing a Beneficial Ownership Register Data

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Establishing a Beneficial Ownership Register Data verification Ljubinka Andonovska Central Register of the Republic of N. Macedonia Deadlines 90 days for existing entities 8 days from incorporation 8 days from any change Definition of

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01
Establishing a Beneficial Ownership Register Data verification Ljubinka Andonovska
Central Register of the Republic of N. Macedonia<br>
02
Deadlines
90 days for existing entities
8 days from incorporation
8 days from any change Definition of Beneficial Owner
25% threshold; direct/indirect ownership or control
Senior manager in case no one fits the definition Filing Obligations & Exceptions
Companies, NGOs, foundations, [trusts]
Exceptions for: sole traders, LEs in liquidation/ bankruptcy, listed companies, budget users Mandatory Data
Personal data on the BO
Nature and extent of ownership/control Sanctions and consequences
Inability to establish a client relationship with an obliged entity/suspension of a client relationship
Monetary fines (dissuasive?)
Scalable filing tariff Legal Framework Key Elements The Register – Legal and Policy Considerations
end-to-end electronic
notice-based
liberal filing capability
interoperability for sourcing data
public
data in optimal format
future-proof<br>
03
Data quality by design Public register
Data sourcing
Obliged entities
FIU<br>