Companies must enter their beneficial owners in the Register
The Central Register of Beneficial Owners became operational on October 13. The Register contains information about the beneficial owners of all commercial companies - except for professional partnerships and public companies.
The register was established under the act on anti-money laundering and combating the financing of terrorism. The obligation to report its beneficiaries applies not only to entities that have been obliged by the law to implement specific anti-money laundering measures but to all companies.
Beneficial owners are natural persons who, by virtue of their ownership rights, can exercise a decisive influence on the decisions made by the company. These may be, primarily, partners in partnerships representing the company and managing its affairs, or partners in capital companies with at least 25% of votes in company board meetings (either directly or through entities controlled by them).
Beneficial owners are registered by persons authorised to represent the company, in accordance with the rules of representation. The registration is conducted electronically, using the form available on the website https://crbr.podatki.gov.pl/adcrbr/#/. The registration must be conducted using a qualified electronic signature or a signature confirmed by an ePUAP trusted profile. The registration form must be completed with the beneficiary's personal data (first name, surname, citizenship, country of residence, civil registration number PESEL/ date of birth) and a description of their status in the company, which gives them rights confirming that they are a beneficial owner. Companies are also obliged to report any changes in the data concerning beneficial owners. This obligation also applies if a former beneficiary loses their rights and a new real beneficiary acquires them.
The obligation of registering beneficial owners must be fulfilled by April 20, 2020. Failure to comply with this obligation may result in a financial penalty of up to 1,000,000 PLN. The penalty is imposed, by way of decision, by the General Inspector of Financial Information, the President of the National Bank of Poland or the President of the Polish Financial Supervision Authority.