Declaring the Ultimate Beneficial Owner in the E-Business Register
Starting from 1st September 2018, all legal entities in Estonia are required to submit information on their Ultimate Beneficial Owners as per the Money Laundering and Terrorist Financing Prevention Act of 2017. You can read more about Beneficial Ownership Disclosure in Estonia here https://hshaus.com/beneficial-ownership-disclosure/
The obligation to disclose beneficial ownership applies to all types of legal entity: general partnerships, limited partnerships, private limited companies, public limited companies or commercial associations.
How to declare the Ultimate Beneficial Owner
1. Log in to the E-Business register at http://www.rik.ee/en/company-registration-portal
2. If the Ultimate Beneficial Owner has not been declared yet, you will see the “beneficial owner not appointed” notification highlighted in yellow next to your company details. Click on this notification to proceed.
3. If you are simultaneously a member of the board, shareholder and beneficial owner of the company, your name will already be in the Register in the “Person related to the entity” section. You will need to click the “add” button to the right of your name to declare yourself as a beneficial owner for the company.
If the beneficial owner is not a member of the board or shareholder, and their name is not already listed in the “Person related to the entity” section, click on “add new person” button.
4. Fill in the short form providing the details such as place of residence, country of birth, etc.
5. Click “add” to declare the beneficial owner and submit the information to the E-Registry.
The information about Ultimate Beneficial Owners will be public and available for all for a fee of 1 EUR. Contractual customers of the E-Business Register will be able to access the information for free.
The Act also stipulates the obligations of declaration and disclosure of the Ultimate Beneficial Owner upon registration for all legal entities registered after 1st September 2018.