The deadline for updating beneficial owner information has been extended until December 31, 2025. The Public Services Agency says that the Parliament will ensure the amendment of the related legal framework by the end of this year, IPN reports.

The beneficial owner is an individual who owns or controls, directly or indirectly, a company or organization. According to ASP, its declaration is essential to prevent legal entities from being used for illegal purposes.

Moldova is preparing to connect the national registers with those of the European Union, allowing transparent monitoring of beneficial owners throughout the European territory.

The declaration of beneficiaries is mandatory only for those who have made changes in the structure of founders or administrators in the last 18 months. Commercial and non-commercial establishments registered after July 1, 2023 already have declared beneficiaries and do not need to submit a new declaration.

Registration fees have not changed since 2016. For example, for sole proprietors the fee is 364 lei, and for LLCs it is 1149 lei.

So far, more than 80 thousand legal entities out of 165 362 registered in the State Register have filed declarations on beneficial owners.