Companies need to disclose their ultimate beneficial owners by the end of May

We wish to remind you that following its latest amendment, the new Bulgarian Anti-Money Laundering Act that came into force in March 2018 now stipulates that the Bulgarian companies shall disclose by the end of May 2019 the natural persons who are their ultimate beneficial owners (true owners). The Regulations on the Application of the Anti-Money Laundering Act, as published on 08.01.2019, include the respective declaration templates.