Information on the actual beneficiaries must be provided by 30. by October 2018 in the Business Register.
The data can be submitted electronically via the Business Portal of the Trade Register at https://ettevotjaportaal.rik.ee/
For instructions on how to submit beneficial ownership data electronically, please see the Business Portal help information.
If you are unable to submit your data electronically (no valid ID card or e-residency card), you can also submit your data via a notary.
More detailed guidance on identifying beneficial owners can be found on the Ministry of Finance’s website.
According to Section 9 of the Money Laundering and Terrorism Prevention Act (MLATA), a beneficial owner is a natural person who, using his or her influence, undertakes a transaction or activity, or otherwise has control over a transaction, activity or another person, and for whose benefit, advantage or account the transaction or activity is undertaken.
A beneficial owner of a company is a natural person who ultimately owns or controls a legal person through the direct or indirect holding of a sufficient number of shares, units, voting rights or ownership interests, including in the form of bearer shares or units, or otherwise.
Pursuant to Section 77 of the Money Laundering Act, partnerships, limited liability companies, joint stock companies, profit making associations and non-profit making associations shall submit the following information on their beneficial owner through the Commercial Register Information System:
1) the name, personal identification code and country of identification of the person, date and place of birth and country of residence if no personal identification code is available;
2) information on the way the person [poolt ühingu üle] is controlled.
In addition, foundations must provide a list of beneficiaries within the meaning of Article 9 of the Foundations Act, which includes the name, personal identification number and country of identification number, date and place of birth in the absence of a personal identification number and country of residence of each beneficiary for each beneficiary, if such persons are indicated in the articles of association of the foundation.
