Start of registration Dutch UBO register for trusts
- 1 November 2022
- Edited 1 November 2022
- 1 min
- Managing and growing
- Press articles
As of 1 November 2022, trustees of trusts, mutual funds, and similar constructions, must register their ultimate beneficial owners (UBOs) in the UBO register for trusts. KVK manages the UBO register for trusts on behalf of the ministries of Finance and Justice and Security.
The UBO register for trusts and similar legal constructions creates more transparency. It makes it more difficult for criminals to hide behind such constructions. Through this transparency, the register helps prevent money laundering, corruption, fraud, tax evasion, and terrorist financing.
What is a trust?
A trust is a legal construction created by a person (the settlor), whereby assets are entrusted to a trustee for the benefit of one or more beneficiaries. Trusts have many variants and are used in business, family, charitable, and cultural spheres, et cetera.
Registration
Only the trustee of a trust, or the person in a similar legal construction in a comparable position to a trustee in a trust, can register UBOs. The trustee themself is also a UBO of the trust.
Register via https://www.uboregistertrusts.nl/ (in Dutch). The transition period for existing trusts lasts from 1 November 2022 up until 1 February 2023. After this period, all existing trusts must have registered their UBOs.
After the transition period, new trusts and FGRs must register in the UBO register for trusts within 1 week of their establishment.