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Compliance-Package in Sight – Have We Waved Goodbye to Long Kyc Processes?

05/11/2020

For complex companies, family businesses and foundations, meeting banks’ and insurance companies’ KYC obligations is usually time-consuming and costly. A simplification will be available shortly. With the new compliance package, the process will be much easier and more straightforward. Companies will soon be able to submit all documents and information necessary to identify their beneficial owners to the Register of Beneficial Owners (WiEReG Register).

The full article is available in German.

Authors

Picture of Oliver Werner
Oliver Werner
Partner (Vienna) I Managing Partner (Bratislava) I Attorney-at-law for corporate law/M&A & compliance
Vienna