The Central Register of Beneficial Owners (CRBR), which has so far functioned as a public and open source of information about company owners and decision-makers, will no longer be publicly available. This change results from a draft amendment to the Act on Counteracting Money Laundering and Terrorist Financing (commonly known as the AML Act) prepared by the Ministry of Finance. The new regulations are a response to both EU regulations and the 2022 ruling of the Court of Justice of the European Union, which highlighted the need for better protection of the right to privacy of persons identified as beneficial owners.
Limited transparency of the CRBR - what will change?
The CRBR, which until now has been available online to anyone interested, will be subject to significant restrictions. Unrestricted access to data from the register will be reserved exclusively for public institutions, such as law enforcement agencies, special services, and the National Tax Administration. Other users will have to submit a request and demonstrate a so-called legitimate interest in gaining access to the data of beneficial owners.
Who will be able to apply for access to the Central Register of Beneficial Owners?
According to the draft amendment, access to information contained in the CRBR will only be possible for entities that demonstrate a legitimate interest related to combating money laundering, terrorist financing, or the intention to enter a transaction with a given business entity.
In practice, these will include:
- investigative journalists analyzing financial flows and ownership structures,
- non-governmental organizations involved in combating financial abuse,
- academic circles conducting research in the field of law or finance,
- natural and legal persons planning to conclude a contract or other economic relationship with an entity required to report data to the CRBR.
The application will be submitted electronically, and the waiting time for its consideration will be a maximum of 12 working days. In the event of a significant load on the system, this period may be extended by another 24 days.
What is a “legitimate interest”?
The definition of legitimate interest has not yet been precisely specified in the draft law. However, according to its assumptions, this premise is to be assessed based on two main criteria:
- The identity and function of the applicant – i.e., who is the person or institution requesting the data,
- The relationship between the applicant and the data subject, e.g., a potential business transaction.
In some cases, the presumption of legitimate interest will apply automatically – this applies to representatives of the media, NGOs, and academic circles working in the field of anti-money laundering and counter-terrorist financing.
What do the changes in the transparency of the Central Register of Beneficial Owners mean for entrepreneurs?
For businesses and professionals who analyze company ownership structures (such as lawyers, compliance officers, and transaction advisors), these changes mean they'll have to adapt to new procedures. Accessing CRBR data will become a more formal and time-consuming process.
The change in the transparency of the register may also reduce market transparency. For entrepreneurs who want to verify their contractors or check ownership links, the new regulations may constitute an information barrier.
When will the changes to the transparency of the CRBR come into force?
According to the draft, the full restrictions on CRBR transparency are to come into force on July 1, 2026.According to the draft, the full restrictions on CRBR transparency were scheduled to come into force on July 1, 2026
The proposed amendment to the AML Act will fundamentally change the rules of access to the Central Register of Beneficial Owners. The current transparency will be replaced by a limited access model, in which demonstrating a legitimate interest will become essential. Although these changes are intended to increase the protection of personal data, they may also affect the effectiveness of measures related to market transparency and the fight against money laundering. The final shape of the regulations and the practice of their application will show whether it will be possible to find a balance between the protection of privacy and the need for transparency in business transactions.
Final explanations on the application of the beneficial owner clause under the Polish Withholding Tax (WHT) regime
ASB Group Provided Advisory Services in the Sale of GARBE Park České Budějovice
ASB Group Provided Transaction Advisory in the Acquisition of Logistics Park Rokycany
