Major legal amendments relating to the submission of the UBO (Ultimate Beneficial Owner) Statement
Context
On 31 May 2021, Government Ordinance no. 43 extending the deadline to submit the annual UBO Statement for legal entities, provided under art. 56 par. (4) of Law no. 129/2019 for preventing and combating money laundering and terrorist financing, as well as for amending and supplementing certain normative acts (“GEO 43/2021”) was published in the Official Gazette of Romania no. 561, and will come into force on 3 June 2021.
Main amendments:
– GEO no. 43/2021 has extended the deadline to submit the UBO Statement until 1 October 2021.
– Before the publication of this legal enactment, the deadline to submit the UBO Statement was 15 days from approval of the annual financial statements, established upon the entry into force of Law no. 101/2021 approving Government Emergency Ordinance no. 111/2020 amending and supplementing Law no. 129/2019.
– According to GEO no. 43/2021, the UBO Statement may be a document under private signature or in electronic form and may be delivered to the trade registry office by electronic means, with electronic signature or by mail and courier services.
– The UBO Statement may also be given before the representative of the trade registry office or may be submitted in person or by proxy, having a certain date given by a notary public or certified by an attorneyat-law.