The scope of the legislation is vast. Indeed, for example, if an External Asset Manager decides to invest, for one of its clients, in a Luxembourgish company (e.g. private company, investment fund) in a way the client finally controls the company, directly or indirectly (e.g. client owns more than 25% of voting rights), the board of directors of this company will report client’s personal information to the register of beneficial owners, and this information will be publicly available.
A vast scope to Beneficial Owner Transparency
The scope of the legislation is vast. Indeed, for example, if an External Asset Manager decides to invest, for one of its clients, in a Luxembourgish company (e.g. private company, investment fund) in a way the client finally controls the company, directly or indirectly (e.g. client owns more than 25% of voting rights), the board of directors of this company will report client’s personal information to the register of beneficial owners, and this information will be publicly available.
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