After registration as legal entities, NGOs have 40 days to declare the owner

2025-04-07 07:30:00, Aktualitet CNA

Non-profit organizations registered as legal entities must also register the beneficial owner in the Registry of Beneficial Owners (RPP).

The Central Bank of Kosovo announces that the deadline for their registration is 40 calendar days from the date of registration as a legal entity. Otherwise, failure to register within the deadline will result in an administrative offense under Law No. 112/2020 "On the Registration of Beneficial Owners", as amended.

Failure to initially register the beneficial owner's data within the deadline set by law is punishable by a fine of 500 thousand lek.

The initial registration of data in the Beneficial Owners Registry is carried out by the person authorized to represent the reporting entity, through e-Albania in the "application for initial registration in the Beneficial Owners Registry" service.

The application must include 9 necessary documents, such as:

-Documentation confirming the unique identification number, name and date of registration of the reporting entity in the relevant register;

– Documentation from the competent registration authority, certifying that the registered beneficial owner is the owner of 25% or more of the shares/quotas of capital; or of the voting rights;

-Other documentation containing the information necessary for the identification and registration of the beneficial owner;

-If the registered entity is a legal person, owned by a limited liability company, the beneficial owner of the limited liability company;

-A written statement signed by the legal representative of the reporting entity, specifying precisely the steps taken to identify the beneficial owner and the reasons for his identification in this position, in the case where its founder is a legal entity (the case where it is not possible to identify the individual owning 25% or more of the shares/quotas of capital; or of voting rights).

-Documentation proving the control of the individual registered as the beneficial owner, in the legal entity that has registered, in the reporting entity (case when the individual owning 25% or more of the shares/quotas of capital; or of the voting rights cannot be identified);

-Documentation proving the position of the individual registered as beneficial owner in the reporting entity (case when the individual owning 25% or more of the shares/quotas of capital or voting rights cannot be identified);

-Other accompanying documentation that confirms the recorded data

-Authorization document, if the application is not made by the legal representative./ Monitor.al