Act on the Registration of Beneficial Owners – other sanctions

Act on the Registration of Beneficial Owners, which comes into effect on June 1, 2021, regulates besides offences also other sanctions which relate to non-registration of beneficial owner into the register of beneficial owners. This specific issue is analyzed in this news.

First of all, it is necessary to introduce private law sanctions, which are connected with participation of a shareholder in the company.

If the beneficial owner of a business corporation is not registered in the register of beneficial