Registration with the Beneficial Owners' Registry

The legal Registry of beneficial owners’ bylaw entered into force on May 25th 2019.

Crowe Croatia
7/9/2019

The bylaw, requires the following entities to officially register the data of their shareholders/ owners:
• companies;
• foreign companies' branch offices;
• associations and foundations;
• institutions of which the Republic of Croatia or local and regional self-government entities are not the only founder; and
• trust and equal subject established in accordance with foreign law, obliged to obtain an OIB in the Republic of Croatia, according to laws regulating OIB.

All existing legal persons need to register the data on their beneficial owners/shareholders with the Registry of beneficial owners in the period from June 3rd 2019 to December 31st 2019. Associations have obligation to register this data in the period from July 1st 2019 to December 31st 2019.
Registration of data with the Registry of beneficial owners may be performed by an authorized person instead of legal persons through the basis of power of attorney.
If the legal person is established after December 1st 2019, the data on beneficial owner needs to be registered within a period of 30 days upon establishment.
The Registry of beneficial owners is governed by FINA in the name of Ministry of Finance – Prevention of Money Laundering Office.
Access to the Registry is granted to the following persons/entities:
1. Prevention of Money Laundering Office;
2. FINA.

As of January 1st 2020, the following persons/entities shall be granted direct access to the Registry:
• Obliged person with obligatory access (banks, foreign bank's branch offices, notary publics);
• Obliged persons with optional access (credit institutions, credit unions, HBOR, auditors, tax advisors, lawyers, etc.);
• In accordance with special rules: Tax authority, Financial inspectorate, competent state entities (HNB, State attorney's office, ministries of justice, foreign and European affairs, etc.).