NEW OBLIGATIONS to prevent money laundering or terrorist financing

from November 1, 2018, the obligation to set up a company in Slovakia is to include the benefits of end-users when registering a new company. Commercial companies that were entered into the Commercial Register by 31.10.2018 will have to register the end user's benefit in the Commercial Register no later than 31.12.2019.

All legal entities that are not public entities and purposeful associations of assets without legal personality are required to identify their end-user benefits and to maintain and continually update end-user identification data in paper or electronic form.

It follows from the amendment to Act no. 297 / 2008z.z. on Protection against the Legalization of Proceeds from Crime and on the Protection of the Financing of Terrorism and on Amendments to Certain Acts, approved on 01.02.2018