Any national or international entity carrying on business in Portugal needs to be registered in the register of the beneficial owner.
What is the beneficial owner?
It is a person who, through the social ownership or other means, directs a company, an association, a foundation… And who has to identify with the central registry of the beneficial owner (RCBE).
This control of the entity was set up in accordance with the 4th standard against money laundering to enhance the transparency, confidence and security of economic transactions. The beneficial owner can be registered by the managers, administrators and or founders of entities, lawyers, notaries or “solicitador” with powers of representation. ASD Group can offer you this service.
When to register a beneficial owner?
For already existing entities, the first declaration of the beneficial owner must be made from 01/01/2019, in the following periods:
Entities subject to the register of companies from 01 January 2019 to 30 April 2019;
- Other entities from May 01, 2019 to June 30, 2019.
- For all entities incorporated from 01 October 2018, the beneficial owner must register within 30 days: After the constitution of entities for those who are subject to the register of companies;
- After the last registration in the “Cardiro Central de Pessoas Colectivas” for entities not subject to the register of companies.
- After obtaining the NIF (VAT number) from the Tax Administration for entities that do not have to be registered in the “Cardiro Central de Pessoas Colectivas”.
- After the first declaration, all the entities need to update all the information contained therein: When there are changes in the reported data, within 30 days;
From 2020, the data will have to be confirmed every year until July 15th of each year.