Beneficial Ownership Searches – An Ellis & Ellis Explainer
What is a Beneficial Ownership search? Ever since European Anti-Money Laundering legislation was transposed into Irish law from 2015onwards, it has become a requirement for companies, industrial and provident societies, andCertain Financial Vehicles (CFVs) to (a) maintain an internal register of their beneficial ownersand (b) to file this information with a central register. In Article 3(6), 4AMLD, a Beneficial Owner is defined as any natural person(s) who either directly or indirectly ultimately (a) owns more than 25% of the company/society’s shares, (b) controlsmore than 25% of the company/society’s voting rights or (c) exercises control via other meanssuch as a shareholders’