RIGA - The Latvia-registered companies that last week received the Register of Enterprises’ letters asking them to disclose their beneficial owners in line with the law, have been responding to this reminder, the Register of Enterprises’ chief accountant Guna Paidere said in an interview to Latvian Television on Monday.
“The information was sent out last Tuesday afternoon, and since then entrepreneurs have been responding – our telephone is hot, emails and questions coming in, so there is activity. Perhaps, some entrepreneurs had failed to notice the requirement, but now it is the high time to respond and submit the information,” said Paidere.
She indicated that the reminders to disclose the beneficial owners have been sent to some 2,000 companies registered in Latvia.
Paidere did not specify how many of these companies had responded already, but said that it takes some time for the companies to gather the required information.
Paidere indicated that the Register of Enterprises would be waiting for the companies’ replies until the end of May. “We will be waiting for some time, and might start taking more active measures at the end of May when amendments to the money launder law are expected to come into force,” Paidere said. Those companies that do not disclose their beneficial owners might face closure under the new legislation, Paidere warned.
As reported, the Latvian parliament in October 2017 passed amendments to the Anti-Money Laundering and Counter-Terrorism Financing Law under which the Business Register has started keeping a register of true beneficial owners based on the information submitted by the companies.