On 23 June 2020, the Dutch Senate approved the Act on the registration of ultimate beneficial owners of corporate entities and other legal entities, which provides for the introduction of an ultimate beneficial ownership (UBO) register. With its approval by the Senate, it is expected the Act will enter into force in the near future.
Under the UBO register requirements, existing entities will have 18 months to submit relevant UBO information to the Chamber of Commerce. For this purpose, the C…