Distinction for ANBIs in the UBO register

When consulting the UBO register, a distinction can soon be made between directors of ANBIs and directors of other entities.

UBO-register
On September 27, 2020, the time had come; the UBO register came into effect. Legal entities established on or after the 27th day of September 2020 must also comply with their registration in the UBO register at the same time as their registration in the trade register. Legal entities established before the 27th day of September 2020 have until the 27th day of March 2022 to register their UBOs.

For a detailed explanation of the interpretation of the UBO definition, we would like to refer to our blog of the 24th day of July 2020 and the 10th day of November 2020.

Public benefit institution (“ANBIs”)
It is also mandatory for foundations (and therefore also for many ANBIs) to include their ultimate beneficial owner in the UBO register. The ultimate beneficial owner of a foundation is a natural person who (in)directly owns or controls the foundation. The following information is recorded in the UBO register: citizen service number, name, nature and size of the interest held. The UBO register can be consulted by anyone.

Parliamentary papers
According to Chris Stoffer (SGP), ANBIs make a major contribution to the public benefit and for this reason it is desirable that ANBIs do not experience any substantial obstacles from the UBO register. Prior to the introduction of the UBO register, he has requested the government to monitor the privacy and nuisance consequences of the introduction of the UBO register for ANBIs, and the House of Representatives about this one year after the UBO has been filled. register to inform.

This year has now passed and the House of Representatives want a distinction to be made soon between directors of an ANBI and directors of a company that own less than 25 percent of the shares.
Including ANBI directors in the UBO register in the same way as directors of a company that own less than 25% of the shares will lead to misunderstandings, incorrect information and legal impurity, while the UBO register aims to increase transparency about legal entities.

According to Finance Minister Hoekstra this is not easy. Mentioning the ANBI status in the trade register is not a legal function. Mentioning the ANBI status also requires a permanent link with the tax authorities, because that is where decisions are made about granting and withdrawing the status.

Solution
Together with the Philanthropy Branch Organizations (SBF), the ministry has come to the following solution: an explanation, coordinated with the SBF, is provided with the extract from the UBO register.
This note states that directors are registered only because of their position and not because of an ownership interest or control in the entity. An incorrect impression that a UBO of an ANBI is very wealthy is removed in this way.

Those who consult the UBO register are also referred to the public ANBI register, in which they can see whether the entity in question is an ANBI.

The aforementioned solution is currently being implemented by the Chamber of Commerce.

Contributing Advisors