On 13 July 2020, the law implementing a central register of beneficial owners of Luxembourg fiduciary arrangements (the “Law”) as required under Article 31 of the 4th AML Directive (“AMLD IV”), as amended by the provisions of article 1 (16) of the 5th AML Directive (“AMLD V”) was published.
This Law is part of Luxembourg’s effort to fully implement the 4th and the 5th AML Directives and it is intended to be read in conjunction with the amended Law of 12 November 2004 on the fight against money laundering and terrorist financing (the “AML Law of 2004”).
This Law will also include all the provisions of the law of 10 August 2018 (the “2018 Law”) concerning the gathering and keeping of information on beneficial owner(s) of trust and fiducie to be kept by the trustees and fiduciaries which will be repealed.