From November 1st, 2022, trustees of existing trusts and similar fiduciary arrangements with a Dutch connection will have three months to register the trusts on UBO-register. The trust register is a publicly accessible register that contains certain personal information of ultimate beneficial owners (UBOs) of trusts, including the Dutch mutual fund (FGR).
The Fifth EU Anti-Money Laundering Directive has required the Dutch Ministry of Finance to maintain the publicly accessible register.
Trustees of new trusts or similar legal arrangements must register within 1 week if the trusts’ creation and any changes after that must be registered within 1 week.
Registration is mandatory for trusts and similar legal arrangements if the trustee resides or is established in the Netherlands. Registration is also mandatory where the trustee is outside of the EU, if the trusts has acquired Dutch real estate or enters a business relationship in the Netherlands.
Dutch mutual funds will have to be registered, but not entities that are already in the Dutch trade register or on the national trusts register of another EU Member State.
Once the trust or similar legal arrangement is registered by the trustee, a unique reference number is assigned to the trust or similar legal arrangement.
The trustee will be under obligation to mention this number on all letters, declarations and any other written statements made on behalf of the trust, even if there is no connection with the Netherlands in such document.
Contacts
If you require assistance in relation to the above and/or would like to discuss anything further, please do not hesitate to contact info@act.london or your usual A.C.T. contact.