Poland Commits to Beneficial Ownership Transparency with Central Register Launch

Despite recent changes in European Union regulations, Poland remains committed to ensuring transparency in beneficial ownership. To combat money laundering and terrorist financing, the country has launched its Central Register of Beneficial Owners (CRBO).

Compliance with EU Regulations

As an EU member state, Poland was obligated to create a central public register of beneficial ownership as part of the bloc’s fifth Anti-Money Laundering Directive. However, following a November 2022 court ruling, member states are no longer required to provide public access to such registers.

Restrictive Approach

Instead, Poland has opted for a more restrictive approach, providing access to its CRBO only to those who can demonstrate a legitimate interest. This move is in line with the country’s commitment to ensuring that beneficial ownership information remains transparent and accessible to authorized parties.

Commitment to Beneficial Ownership Transparency

Poland’s commitment to beneficial ownership transparency is evident in its implementation of the CRBO, which was launched following the country’s obligations under the EU directive. The register provides a comprehensive overview of beneficial ownership structures, allowing authorities to track and monitor suspicious activity more effectively.

Global Efforts to Combat Financial Crimes

By launching the CRBO, Poland has joined a growing number of countries that have committed to implementing beneficial ownership transparency reforms. These efforts aim to combat financial crimes and promote good governance by ensuring that individuals with significant control over companies are identified and their interests disclosed.

Implementation Details

Poland’s commitment to beneficial ownership transparency is also reflected in its implementation details, which outline the steps taken to create and maintain the CRBO. The country has also provided commitment details, including information on its obligations under EU regulations and its plans for future improvements to the register.

Get More Information

For more information on Poland’s commitments to and implementation of beneficial ownership transparency reforms, please visit our website or contact us at [insert contact email].