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Avenida António Augusto de Aguiar, N183, 1 Esq, Lisboa, Portugal
We are a law office located in Lisbon, Portugal
Mail us to get more info on this and to schedulle a call: info@cscadvogada.com
The Central Registry of Effective Beneficiary (RCBE) is an integral tool in promoting transparency and accountability in financial systems. With a focus on demystifying the workings of RCBE.
As the global fight against money laundering, corruption, and illicit financial activities intensifies, the need for a centralized database containing information on beneficial ownership becomes crucial. The CREB plays a pivotal role in this regard by ensuring that accurate and up-to-date data on the ultimate beneficiaries of legal entities is readily accessible. By identifying who truly benefits from corporate entities, the RCBE helps authorities investigate and prevent financial crimes effectively.
The RCBE is mandatory to be updated and fines are due if the date is not provided.
The obligation is to fill the declaration as soon as the company is opened and once a year to confirm the data is kept valid and updated.
The submission is made here.
To effectively promote transparency and accountability, it is essential to understand the concept of effective beneficiaries. An effective beneficiary refers to the individual(s) who ultimately benefit from the assets, income, or profits generated by a legal entity. These individuals may exercise control over the entity, either directly or indirectly, and have the power to influence decision-making processes.
The Central Registry of Effective Beneficiary (CREB) plays a pivotal role in ensuring transparency and accountability in financial systems. It serves as a centralized database that contains accurate and up-to-date information on the ultimate beneficiaries of legal entities. By providing easy access to this information, the CREB enables authorities to effectively combat financial crimes and promote cross-border cooperation.
In conclusion, the Central Registry of Effective Beneficiary plays a crucial role in promoting transparency and accountability in financial systems. By accurately identifying the effective beneficiaries of legal entities, the CREB enables authorities to investigate and prevent financial crimes effectively. The implementation of CREBs offers numerous benefits, including enhanced due diligence, improved cross-border cooperation, and deterrence of illicit activities.
