It has been just over a year since the Central Registry of Beneficial Owners was established by Royal Decree 609/2023, on July 11, and its regulations were approved. Now seems like a good time to remind affected businesses of what this means for them.
From that point onward, all entities required to report information about their beneficial owners should already have done so, ensuring the information is complete and up to date. Whenever there is a change in beneficial ownership, administrators must file a new declaration with the relevant Mercantile Registry within ten days of becoming aware of the change. This helps ensure that the information sent from the Mercantile Registry to the Central Registry of Beneficial Owners is accurate and current.
Failing to comply with these obligations—whether by not including the beneficial ownership details or failing to file the required annual accounts—will result in a registration freeze, which could cause significant challenges for companies in their day-to-day operations.
Lastly, keep in mind that the information in this registry is accessible to authorized authorities, individuals or entities bound by the regulations of Article 2 of Law 10/2010, and anyone who can demonstrate a legitimate interest in obtaining the information.
At addwill, we are here to help. If you need more information or advice on commercial matters, feel free to reach out to our experts at 934 875 200, via email at comunicacio@addwill.eu, or by clicking here.