On 17 January 2024, the Department of Registrar of Companies and Intellectual Property announced that with the aim to optimally update the Register of Beneficial Owners on the basis of the implementation of the upgraded platform, an extension has been granted for the submission of data for all Companies and other Legal Entities until 31 March 2024.
It has been noted that after the specified date, non-compliant Companies and other Legal Entities will be subject to a financial burden based on Article 188(I)/2007 (Prevention of Combating Money Laundering, a law passed by the House of Representatives on 23 February 2021).
