The National Business Register Office (ONRC) informs that, pursuant to Article 62 paragraph (1) of the law no. 129/2019 on preventing and combating money laundering and the financing of terrorism, as well as amending and supplementing certain regulatory acts, with subsequent amendments and supplements, within 12 months of the entry into force of this law, companies incorporated prior to the date of entry into force of this law must compulsorily arrange for the registration with the Register of Beneficial Owners of Companies, maintained by the National Business Registry Office, a statement regarding the identifying data of beneficial owners.

In view of the fact that Law No. 129/2019 came into force on 21.07.2019, the deadline stipulated by the previous provisions of the law expired on 21.07.2020.The provisions of Article 56 paragraph (4) of the same normative act stipulate the obligation to submit an annual declaration to the business registry office in which the legal representative of the company, under his own responsibility, identifies the real and actual beneficiaries of the company. This declaration must be filed with the relevant Romanian business registry within 15 days of the approval of the annual financial statements.In 2020, legal entities under Romanian law established prior to the date of entry into force of the law, subject to the obligation to submit the declaration to the beneficial owner, will submit a single declaration, subject to the approval of the annual financial statements, which will cover both the obligation regulated by the provisions of Article 62 paragraph (1) of the law, as well as that regulated by the provisions of Article 56 paragraph (4).We remain available for any necessary clarification.