Danish Parliament Strengthens Registration Requirements of Ultimate Beneficial Owners
Published 2 May 2019
Category: Corporate Regulation
On 2 May 2019, the Danish Parliament adopted amendments to the Danish Companies Act, which implements part of the 5th EU Anti-Money Laundering Directive concerning the registration of ultimate beneficial owners.
The new rules make it mandatory for capital owners, and others with direct or indirect control, to provide the company with information necessary to identity their ultimate beneficial owners and further makes it mandatory for companies to supply this information to persons and companies which are required to carry out KYC procedures. Insufficient registrations or lack of documentation for the registrations (or lack of registrations) may be grounds for compulsory dissolution of the company. Further, companies are obligated to make a yearly assessment of whether there are any changes of the ultimate beneficial owners, the results of which are to be presented on the meeting where the central management approves of the annual report.
Next Steps: The new rules enter into force on 10 January 2020.
See the adopted act (in Danish) here.
Tags: Beneficial OwnershipComplianceDanish RegulationDisclosure RequirementsKYC / AML
Also tagged ‘Beneficial Ownership’
Restrictions on Public Access to Beneficial Ownership Information
The Danish Business Authority reannounced that new restrictions on public access to information regarding beneficial owners in the Danish Business Register will be implemented.
Beneficial OwnershipKYC / AMLProposal to Strengthen the Registration of Ultimate Beneficial Owners
On 13 March 2019, the Danish Government presented a proposal for an amendment of various acts including the Danish Companies Act which implements part of the 5th EU Anti-Money Laundering Directive concerning the registration of ultimate beneficial owners.
Beneficial OwnershipComplianceDanish RegulationDisclosure RequirementsKYC / AMLEU Court of Justice Issues Ruling in Danish Beneficial Ownership Cases
The CJEU judgments will likely have a big impact on international group structures and will also contribute to the interpretation of the anti-abuse principles of EU law and the "beneficial owner" concept.
Beneficial OwnershipDanish RegulationOther updates
ESMA Launches Consultation Paper on selected KPIs under the Delegated Act under the Taxonomy Regulation
The consultation primarily focuses on the following three main topics: Revision of the OpEx KPI, Voluntary use of OpEx KPI by financial undertakings, and Group Taxonomy reporting.
ComplianceCSRDDisclosure RequirementsESRSSFDRSustainabilityEuropean Commission adopts final revised ESRS and voluntary sustainability reporting standards
The European Commission has adopted the final revised ESRS applicable to companies subject to the EU’s mandatory Corporate Sustainability Reporting Directive (“CSRD”) and a voluntary reporting standard for smaller companies.
ComplianceCSRDDisclosure RequirementsESRSSustainabilitySFDR 2.0 – Council agrees negotiating position
On 24 June 2026, the Council of the European Union agreed its negotiating position on the European Commission's proposal to amend the SFDR, introducing several important clarifications and amendments – including three new categories of financial products: sustainable, transition and ESG basics.
Disclosure RequirementsSFDRSustainabilityExpansion of the special section 7P regime enters into force
The Danish Ministry of Taxation and Economic Growth has announced that the expansion of the special regime for qualifying new and smaller companies in section 7P of the Danish Tax Assessment Act (ligningsloven) will enter into force on 1 July 2026.
Venture CapitalEU Commission presents proposal for EU Inc. (28th regime)
The initiative aims to address long-standing fragmentation across the EU’s 27 national company law systems by introducing a single, harmonised legal structure designed primarily for innovative companies and startups.
Venture CapitalPublication of Omnibus l
The Omnibus I Directive (Directive 2026/470) was published in the Official Journal of the European Union on 26 February 2026.
CSDDDCSRDSustainability