Registry of beneficial owners – companies in Slovenia, EU

When starting a business in Slovenia, you would have to decide who will be shareholder and representative of your company. After company registration, you would also have to assess whether you would need to submit that information to the Registry of beneficial owners. But do you know when the entry to the registry of beneficial owners is mandatory and when it is not?

Within Data d.o.o., 40 experts can offer you and your company full support regarding business in Europe. Our legal advisors will inform you whether or not you have to submit information to the Registry of beneficial owners. Also, they would can assist in submitting the entry as well as prepare other documents for you and your company. Additionally, we provide accounting services, tax consultation and services of virtual office.

What is the Registry of beneficial owners?

The Anti-Money Laundering and Terrorist Financing Act  (ZPPDFT-1) sets out the obligation to for companies to do the entry to the Registry of beneficial owners. Failure to enter information in the registry may result in high penalties, adding up to several thousand euros.

The Registry of beneficial owners is a registry that collects accurate and up-to-date information on beneficial owners. A register is set up to ensure transparency in the ownership structures of business entities and thus to prevent the abuse of business entities for money laundering and financing of terrorism

The Agency of the Republic of Slovenia for Public Legal Records and Related Services (AJPES) manages and maintains the Registry of beneficial owners.

Who is a beneficial owner?

The beneficial owner is any natural person who is the final owner of the business entity or otherwise controls it. Also, it can be a natural person on whose behalf the transaction is being carried out.

Legal entities have to register the beneficial owners in the registry. They can do it after becoming a part of the Business register of Slovenia, so after company registration. The exceptions to this regulation are listed below. Additionally, to Slovenian companies, foreign funds, foreign institutions or similar entities of foreign law that accept and manage or distribute assets for a specific purpose and because of their business conduct are subjected to tax liabilities in Slovenia, must also submit their information to the registry.

Who does not have to submit information to the Registry of beneficial owners?

There are also exceptions that do not have to submit their information to the Registry of beneficial owners. Those are:

• sole proprietorships,
• direct and indirect budget users,
• LTD companies where the owner and the director are the same natural person.

If there are more representatives or if the shareholder is another legal entity (subsidiary), this exception does not apply and the LTD company has to submit information to the Registry of beneficial owners.

In case you do not submit the information to the Registry, the Slovenian tax office can issue penalties. If you are not able to make the entry alone and require assistance, our legal department will be happy to offer support.

If you require more information on company registration in Slovenia, EU, send us an e-mail to data@data.si. You can also contact us over the phone 00386 1 6006 270 or 00386 40 530 718 (Viber, WhatsApp). You can also follow us on Facebook.