Luxembourg has released a publication detailing new legislation that will establish an obligatory beneficial ownership registry that will be available to certain entities in Luxembourg upon request. More information will be released regarding what entities will fall within its scope; and those found to oblige will have until September 1st 2019 to make the necessary arrangements.
As per Article 30 of the EU Fourth Anti-Money Laundering Directive, the following personal information on beneficial owners will still remain private from individuals and the general public:
Private residential address.
Tax identification number.
In spite of the increase of disclosure for Luxembourg companies, beneficial owners will have the right to restrict certain financial institutions, national authorities, bailiffs and notaries access in exceptional circumstances.