Since 01.08.2021, all legal entities under private law and registered partnerships must actively register in the transparency register.
Why is a GmbH entered in the transparency register? The purpose of the transparency register is to prevent money laundering and terrorist financing. Here you can find out how the registration process works and what you should bear in mind.
The transparency register: 5 steps to registration
In order to meet the legal requirements and create transparency about the beneficial ownership of your GmbH, it is essential to be entered in the transparency register and to report any changes immediately.
To enter your GmbH in the transparency register, you must follow these steps:
- Determine all beneficial owners of the GmbH who must be entered in the transparency register.
- Create a user account at www.transparenzregister.de.
- Create your own GmbH and enter your address details.
- Add the beneficial owners.
- Keep the transparency register up to date with any changes.
Who is the beneficial owner of a GmbH?
Beneficial owners are natural persons with a controlling economic influence over the company. This is the case if you hold more than 25% of the shares as owner or shareholder or you as the owner have more than 25% of the voting rights by virtue of the articles of association or you are the managing director of the company if no shareholder holds more than 25% of the share capital.
Transparency register and limited liability companies: Are there exceptions?
Before August 1, 2021, there was a so-called “notification fiction” after the partnerships entered in the commercial register had already fulfilled their reporting obligation with the information that could be found in the commercial register.
Today, this fictitious notification no longer exists, meaning that GmbHs are now required to actively report to the transparency register without exception.
Do you need support with the entry in the register? Our Digitale Gründung team will be happy to take care of the entry in the transparency register.
Why are entries and updates in the transparency register important for the GmbH and its beneficiaries?
On the one hand, this is the only way to safeguard the purpose of the transparency register and, on the other hand, the penalties for violating the obligation to register or notify amount to up to €150,000.
Don’t want to forget a single step during your foundation? Found your own GmbH now with the Digitale Gründung team!
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