Beneficial Ownership Transparency in the Netherlands: Progress and Challenges

Introduction

In recent years, the Netherlands has been actively working towards increasing transparency in beneficial ownership. This article provides an overview of the country’s efforts, achievements, and ongoing challenges.

Key Reforms and Commitments

• In 2022, the Netherlands launched a register for trusts called the UBO-register trusts.
• The country also maintains a separate UBO register covering the entire economy, with a threshold of 25% to determine beneficial ownership.
• As part of its commitment to beneficial ownership transparency, the Netherlands is a member of the Extractives Industry Transparency Initiative (EITI) and has implemented measures in accordance with the European Union’s fifth Anti-Money Laundering Directive.

Access to Information

While some information on the UBO register is publicly available, much of it remains inaccessible due to data protection concerns. In 2023, a court ruling exempted member states from providing public access to beneficial ownership information, affecting the Netherlands’ ability to maintain transparency.

Ongoing Efforts

At the 2023 Summit for Democracy, the Netherlands reaffirmed its commitment to implementing effective beneficial ownership transparency measures and maintaining a beneficial ownership registry or alternative mechanism. The country’s efforts are reflected in the Open Ownership map, which indicates that there is still room for improvement in achieving comprehensive transparency.

Data Availability

As of July 23, 2024, records on the UBO register and other beneficial ownership information remain up-to-date.

Sources:

• Extractives Industry Transparency Initiative (EITI)
• European Union’s fifth Anti-Money Laundering Directive
• Open Ownership map