Hoekstra Bill Rejects Objections

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Hoekstra bill rejects objections about the property register.Minister Wopke Hoekstra (Finance) has submitted a bill for a property register to the Chamber of Commerce (KvK) with the House of Representatives.

It should map out the ‘ultimate beneficial owner’ (UBO) of companies and foundations.

The offer for the UBO register is intended to combat money laundering and the financing of terrorism.

Registration is necessary for persons with an interest of at least 25 percent.

It is controversial because the ultimate stakeholders believe that the privacy of the register is being violated.

Charities are also entered in the register.

Earlier it was informed that this would stop volunteer charities because they would be wrongly characterised as beneficiaries.

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