|France will establish as soon as possible beneficial ownership registers for legal persons as well as for trusts, that will be made accessible to the public.|
Themes: Beneficial ownership
Last updated: April 2020
Concrete: Somewhat Concrete | New: New | Ambitious: Ambitious
In January 2020, France implemented the AMLD5 and provided for the opening to the public of certain information of the Beneficial Ownership registers (BO’s names, surnames, date and place of birth, residence country, nationality, nature and extent of the BO’s interests within the society). Access to BO’s information is free. However, BO data consultation modalities have not been defined yet. Building on Open Ownership’s recommendations, data should be freely available online, bulk, in structured, machine-readable format that complies with BODS, searchable, downloadable and reusable by the public, without a fee, proprietary software, or the need for registration.
Peer reviewer: 1
Updated: April 30, 2020
European 5th Anti-Money Laundering Directive (5AMLD) imposes to the Member States to open to the general public the beneficial ownership registries they had to set up under the 4th AMLD. France will have to transpose this directive in its national legislation in 2020. The government is working on it. However, public access is expected to be restrained, taking into consideration the October, 21st 2016 Constitutional Council' decision which held that the public opening of the public register of trust infringed the right of privacy in a way that is manifestly disproportionate to the objective pursued.
Updated: October 30, 2019