Judgement on the Termination of Public Access to UBO Registers Issued by the European Court
By: A.G. Paphitis & Co Law Firm
Important Announcement
On the 22nd of November 2022, the European Court of Justice issued a judgment on the termination of public access to UBO Registers of all companies.
It implies that open public access to the beneficial owner registers of EU companies is no longer valid. As per the Court, the general public’s access to information on beneficial ownership constitutes a serious infringement upon the fundamental rights to respect for private life and to the protection of personal data, enshrined in Articles 7 and 8 of the Charter, respectively.
EU member states should immediately start blocking access to their beneficial owner registers. A few countries have already implemented the judgment and others will soon follow.
Department of Registrar of Companies and Intellectual Property Announcement
