New Register for Ultimate Beneficial Owners (UBO Register)

The UBO Register Act (WiEReG), announced on 15 September 2017, imposes a registration obligation on Austrian corporate entities and other legal entities regarding their ultimate beneficial owners. As of 15 January 2018, all direct or indirect owners holding more than 25 % of the share capital have to be disclosed in the new register maintained by the governmental institution Statistics Austria. The data already disclosed in the Austrian Companies’ Register will be transferred automatically to the UBO Register.

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Author: MMag. Verena Heffermann