LAWYER FOR BENEFICIAL OWNER OF A COMPANY
According to the Law on Prevention of Money Laundering and Financing of Terrorism, companies and other legal entities must register their beneficial owner in the Register of beneficial owners. The company must initiate the registration procedure within 15 days of the company’s registration. Otherwise, the company may need to pay a fine up to 60.000,oo MKD (1.000,oo EUR).
The procedure for registration of a beneficial owner of a company is conveyed before the Central Registry of the Republic of North Macedonia by an authorized registration agent – a lawyer.
Our law office has solid experience in conducting various procedures before the Central Registry. We also offer services for registration of beneficial owners of companies and other legal entities.
Trading companies
The beneficial owner of a company is a natural person. According to the first criterion, he must have ownership in the legal entity. In other words, this is the person with ownership of over 25% of the shares, stocks or voting rights. According to the secondary criterion, he must have an effective control over the legal entity. In other words, this is the person with the highest management position.
Other legal entities (foreign associations, institutions, chambers, trade unions, political parties, cooperatives, etc.)
The beneficial owner of other legal entities is any natural person that has authorization for representation, or the natural person who has a controlling position in the management of the organization’s property.
Trader – an individual or of self-employed persons
The beneficial owner is the natural person registered for performing the activity – the only authorized representative.
Budget users
The head of the budget user is the beneficial owner.
State-owned legal entity
The person who manages or directs the management body is the beneficial owner of state-owned legal entity.
Legal entity that is in the process of bankruptcy or liquidation
The beneficial owner is the bankruptcy trustee / liquidator during the bankruptcy / liquidation procedure.
If you need advice or help regarding the registration of the beneficial owner of your company, feel free to contact us!