Uruguay expands scope of beneficial ownership regulation

Pedro Gonçalves
clock
Uruguay expands scope of beneficial ownership regulation

Uruguay has revised the legislative framework which establishes entities' obligations to identify their ultimate beneficial owners (UBOs) to also cover trusts issuing shares or securities, among other entities. Under the rules, a beneficial owner is one holding, directly or indirectly, 15% of an entity's capital, or who otherwise exercises final control over the entity. Following the amendments, the penalty for failing to identify said owners will not be imposed if they meet four requir...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now

 

Already a International Investment member?

Login