Luxembourg RBE: New procedure of access for professionals

The law of 13 January 2019 has established a register of beneficial owners in Luxembourg, as part of the implementation of some provisions of the Directives 2015/849/EU (“AMLD IV”) and 2018/843/EU (“AMLD V”).

By its judgment of 22 November 2022, the Court of Justice of the European Union ruled that the general public’s access to information on beneficial ownership, provided for in Art 30(5) of AMLD IV, as amended by Art 1 (15) c of AMLD V, constitutes an interference with the rights guaranteed in Art 7 and 8 of the Charter of Fundamental Rights of the European Union and that therefore Art 30 (5) of AMLD IV is invalid. Following the CJEU Judgment, the LBR decided to limit the access to the RBE to professionals within the meaning of Article 2 of the amended law of 12 November 2004 on the fight against money laundering and terrorist financing.