On April 12, 2018, the Polish act on counteracting money laundering and financing of terrorism was announced. The addressees of this act are primarily the so-called obligated institutions. The obligated institution is obliged to identify the beneficial owner and transfer data in this respect to the Central Register of Real Beneficiaries, which was launched on October 13, 2019. Thus, the current practice of determining the beneficial owner, based only on the customer’s declaration, no longer applies.
Which companies are subject to the registration of their beneficiaries?
The following are obliged to report information on beneficial owners and update them:
- general partnerships;
- limited partnerships;
- limited joint-stock partnerships;
- limited liability companies;
- joint stock companies, except for public companies.
Information to be reported to the Central Register of Real Beneficiaries
The information includes:
- identification data of companies, i.e. name, organizational form, seat, number in the National Court Register, NIP;
- identification data of the beneficial owner and a member of the body or partner authorized to represent companies, i.e. name and surname, citizenship, country of residence, PESEL number or date of birth – in the case of persons without a PESEL number, information on the size and nature of the share or rights of the real beneficiary.
The information referred to above is entered into the Central Register of Real Beneficiaries immediately after its submission or update.
Deadline for reporting to CRBR
The indicated information is reported to the Central Register of Real Beneficiaries no later than within 7 days from the date of entry of the companies into the National Court Register, and in the event of a change in the information provided – within 7 days of their change. Saturdays and public holidays are not included in the run of the indicated times.
Entities that are already entered into the National Court Register have an additional six months to submit relevant information to the Central Register of Real Beneficiaries (counted from the date the Register is launched).
Who submits the application to the CRBR?
Applications to the Central Register of Real Beneficiaries are made by a person authorized to represent the company.