About the UBO register

Ultimate Beneficial Owners, or UBOs for short, are the people who own or make the final decisions in an organisation. For example, people who own more than 25% of the shares or are on the board of directors

European rules and regulations mean every EU member state must have a UBO Register. Collecting and recording this information means it is clear who has control of an organisation. This information also helps identify who benefits most from certain actions or choices. Using UBO data, the police for example, can more easily investigate possible illegal activities

Whats should you do and what does KVK do?

Businesses and organisations must provide all the information about their UBOs to KVK themselves. KVK then records this data in the UBO register.

To register, change or deregister UBOs, you must make a UBO report.

Does the UBO data change, for example because a new board member has been appointed? If so, organisations must notify KVK of the change themselves. This must be done within a week. So, in this example, within one week after the appointment of the director.

Sometimes other organisations, for example government bodies, notice that certain UBO information is incorrect. They should report this to KVK and if necessary, KVK will investigate.

For each registration, KVK checks whether a company or organisation provides all the information needed. KVK does not determine who the UBOs are. The organisation submitting the UBO report must ensure that the information is correct and complete. And that it reaches KVK on time.

Who is allowed to view UBOs?

Not everyone is allowed to view UBO data. Are you yourself UBO of an organisation? Then you can only see your own data. Are you authorised to sign for an organisation? Then you will see information about the UBOs of that organisation. Someone with authority to sign can officially register, report changes for, and deregister an organisation in the Business Register. Some organisations, such as the Netherlands Tax Administration, can view all UBOs in the register.

The rules on access to the UBO register may change due to changes in law. KVK handles UBOs' data with care and following the GDPR guidleines. 

How is the UBO Register used?

Certain organisations need to check who the UBOs of an organisation are. For example, a bank needs to know who the UBOs are before an organisation can open a bank account.

The government uses the UBO register to detect crimes. Think of money laundering, when criminals want to hide money they have earned from crime. They start a business in which they use this money for activities that are not illegal. The money is used in payments and ends up with customers or in bank accounts. This means it is no longer possible to check where the money came from.

Sometimes the government also uses the UBO register to find evidence of tax evasion. Cases in which people or businesses use illegal ways to pay as little tax as possible.

It is important that the information in the UBO register is correct and up-to-date. Does it contain old or wrong information? Then this could have major consequences, for example for the outcome of a police investigation, or for the future of a business or organisation.