Beneficial Ownership register – Norway
Money Laundering Directive 4 (MLD4) is not yet part of the EEA-agreement, and thus Norway is under no obligation to implement the directive yet. Norway has had a proposal from a law committee on hearing ending 1 April 2017. White paper is not expected until first half 2018, with implementation mid or late 2018, depending on the EEA process.
The Money Laundering Directive 4 (MLD4) is not yet part of the EEA-agreement, and thus Norway is under no obligation to implement the directive yet.
Norway has had a proposal from a law committee on hearing ending 1 April 2017. White paper is not expected until first half 2018, with implementation mid or late 2018, depending on the EEA process.
The proposal is based on MLD4, in particular the establishment of a Beneficial Owner register to which all Norwegian non-listed companies would have to file information as to natural persons directly or indirectly controlling or owning 25% or more of the company, or otherwise directly or indirectly exercising control over the company.
The information proposed to be filed is:
- Name
- Country of residence
- Date of birth
- Citizenship
- Basis for Beneficial Ownership
The Norwegian company must ensure that the information is accurate and current.