The Beneficial Owner Register Act (Wirtschaftliche Eigentümer Registergesetz, WiEReG) will come into effect on 15 January 2018. It obliges entities (Rechtsträger) to notify their beneficial owners to a newly created register.

The registered data are accessible for a broad group of authorities and persons. Notifications shall be effected until 1 June 2018. This newsletter presents the cornerstones of the WiEReG. In this Newsletter we will give a summary about the key points of WiEReG:

• Background and purpose of the new legislation
• Scope of the WiEReG?
• Obligations of the addressees
• The notification process – Who has to report? - Which information has to be reported? 
• Who is beneficial owner at all?
• The register