On July 10th 2020, the 4th anti-money laundering Directive as amended by the 5th anti-money laundering Directive were transposed into the Luxembourg law.
This law has created a new obligation for Trusts and Fiducies which have a trustee or “fiduciaire” established or residing in Luxembourg as well as for Trusts and Fiducies which are doing business or acquire real estate properties in Luxembourg.
These Trusts and Fiducies are now required to submit to the new register all information concerning the Trust or Fiducy as well as all information concerning the Ultimate Beneficial Owner.
This new register is accessible via the Luxembourg website Guichet.lu.
Various sanctions have also been created for the trustees and “fiduciaire” which are not fulfilling their obligations (e.g. blame, fine up to EUR 1.250.000).
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