Declaring the Ultimate Beneficial Owner is a legal obligation. Entities must make their initial declaration of the beneficial owner within 30 days after:
- The registration of the establishment of the entity subject to commercial registration; or
- The first registration in the Central Registry of Legal Entities for entities not subject to commercial registration; or
- The assignment of the Tax Identification Number (NIF) by the Tax and Customs Authority, in the case of an entity that is not required to be registered in the Central Registry of Legal Entities.
After the initial declaration, all entities are required to update all the information provided in that declaration whenever there are changes to any of the declared data, within 30 days from the occurrence of the relevant event.
If there are no changes, annual confirmation must be completed by December 31 of each year.
For more information, please refer to the following website: