Luxembourg

The Luxembourg Register of Beneficial Owners (RBE) law provides for a compulsory, centralized database in which nearly all entities registered in Luxembourg must disclose their true natural owners who own 25% or more of shares, voting rights, or ownership. Operated by the Luxembourg Business Registers (LBR), the legislation compels corporations to disclose their true owners following the EU anti-money laundering (AML) directive. As of the privacy decisions and law amendments through 2025, unrestricted public access to the database is not allowed; access is limited to national authorities, AML-regulated professions, and entities with legitimate reasons to access the database. With strict enforcement mechanisms in place in 2026, non-compliance by the entity in filing or updating its beneficial ownership data will attract penalties including public notices, restricted certificates of incorporation, administrative penalties, and ultimately administrative dissolution or huge criminal penalties.