Polish Central Register of Beneficial Owners (CRBR)

 

The Central Register of Beneficial Owners (CRBR) is a public register containing information about natural persons who exercise direct or indirect control over companies. The obligation to register beneficial owners in the CRBR applies to entities registered in the National Court Register (KRS), including general partnerships, limited partnerships, limited joint-stock partnerships, limited liability companies, joint-stock companies (excluding public ones), and simple joint-stock companies.

Registration must be completed within 14 days from the date of the company’s entry into the KRS or from any change in previously submitted data. The filing must be made electronically by a person authorised to represent the company. Filing has to be signed by so called e-signature.

A beneficial owner is a natural person who, among other things, holds more than 25% of shares or voting rights, exercises control through other legal means, or acts on behalf of or for the benefit of such a person.

Failure to register, submitting false information, or not updating the data on time may result in a financial penalty of up to PLN 1,000,000. This is stipulated in Article 153(1) of the Act on Counteracting Money Laundering and Terrorist Financing. Moreover, failure to disclose a beneficial owner may lead to reputational risks and difficulties in dealing with financial institutions.

Companies should regularly verify their ownership structure and promptly update the CRBR to avoid sanctions and ensure compliance with the law. 

Above information should not be considered a legal advice. For more details, please reach out to us by email: kancelaria@kk-legal.com.pl