Following the judgment of the Court of Justice of the European Union (CJEU) of 22 November 2022, access to the Luxembourg register of beneficial owners (RBO) website via the internet has been temporarily suspended.
This judgment, taken on a preliminary ruling from the Luxembourg District Court in a dispute between the beneficial owners of an entity registered in Luxembourg and the Luxembourg Business Register (LBR), underlines that access without distinction of user quality, although imposed by the text of Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018 amending Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing transposed into Luxembourg law, is contrary, in particular, to Articles 7 and 8 of the Charter of Fundamental Rights of the European Union ("Charter").
The CJEU held that this access constitutes an interference with the rights guaranteed by the Charter and is not limited to what is strictly necessary and proportionate to the objective pursued.
Consequently, on 22 November 2022, the Luxembourg Ministry of Justice, in consultation with the LBR, which is responsible for managing the RBO, decided to temporarily suspend public access to the RBO via the internet portal of the LBR.
For further information on what these developments mean for your organization, please get in touch with your usual Baker McKenzie contact.
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RBO access maintained for competent national authorities
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