Pursuant to Law no. 112/2020 and DCM no. 1088, dated 24.12.2020 , we bring to your attention that any existing reporting entity, non-profit organization, registered with the Court and tax authorities and identified with the NIPT, must register the beneficiary owner/owners in the Register of Beneficiary Owners (RPP).
According to Article 15 of the Law, the Ministry of Finance and Economy and the National Agency for the Information Society will establish the Register of Beneficiary Owners no later than 31.1.2021.
According to this Article, existing reporting entities must register the data required by this law for their beneficiary owners no later than 60 calendar days from the creation of the register.
The registration will have to be done with an application by the authorized person (legal representative) to represent your subject, through the service “registration of the beneficial owner”, in the unique portal of government services e-albania.
For more information about registering in the RPP, process steps and required documents as follows:
How is the owner/beneficiary registered in the Register of Beneficiary Owners (RPP)?
– The authorized person after being electronically identified in e-Albania must choose the type of registration he will do (initial registration and/or updating or changing the data for the beneficiary owners) and then the relevant application form will be displayed and completed.
– In the application, the necessary accompanying documentation must be attached, such as: the identification document of the individual registered as beneficial owner and the extract of your subject; the extract of the legal entity that is owned by the registered individual and is the founder of your entity, the statute / internal acts of the non-profit organization; contract or any other document proving that the registered individual is the beneficial owner of your entity.
– The documentation deposited in the Register must be drafted no later than 30 calendar days from the date of initial registration of the beneficial owner and translated into Albanian. Private acts and official documents of foreign jurisdictions must be legalized.
– The application and accompanying documentation is confirmed to be accurate by electronic means that guarantee the authenticity of the origin and the inviolability of the content of the documents in electronic form, at least through the advanced electronic signature of the application form. NBC, reviews the application within two working days, according to the requirements of the DCM, after verification of which decides its approval or rejection, a decision which is published in the RPP and also notified via e-mail declared by each non-profit organization, in e -albania.
– The application will be reviewed by the NBC no later than 2 working days from the receipt of the application by the reporting entities. The decision to approve or reject the application will be notified through publication in the Register and will be sent to the authorized person via email.
What information should be recorded?
– The information to be recorded consists of (i) data on the reporting entity (NUIS; name), (ii) mandatory data on the beneficial owner (identification data; date of designation of the individual as beneficial owner; type and percentage of ownership). For beneficial owners who are Albanian citizens the required data are name, surname, identification number, date of birth, citizenship, address of permanent residence. In addition to the above information, foreign nationals must also declare their passport number, date of issue and date of passport expiration.
How should the beneficial owner / s be identified?
You should keep in mind that the beneficial owner of non-profit organizations, which includes foundations, associations, centers, as well as branches of non-profit organizations, is:
– The founder or
– legal representative or
– the individual who exercises the ultimate effective control over the administration and control of non-profit organizations.
The last effective control is the relationship in which a person:
– determines the decisions taken by the non-profit organization;
– controls in any way the election, appointment and removal of most of the decision-making bodies and/or executive bodies of the non-profit organization.
By control, meanwhile, is meant, control or ownership in a legal person, trust or other legal arrangements.
In the event that control is exercised through a trust, you must identify and register as a beneficial owner:
– The Creator;
– counsel, if any, and
– beneficiaries or when the persons benefiting from the legal agreement or entity have not yet been identified, the class of persons for whose main interest the legal agreement or entity is established or operates;
– or any other individual exercising ultimate control over the trust through direct or indirect ownership or other means.
CAREFUL! Failure to register the data for the beneficiary owner within the deadline specified in Article 15 of this law mentioned above, is punishable by a fine in the amount of 500,000 (five hundred thousand) ALL.
For further clarifications you can write to us at email@example.com