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Moldova updates UBO reporting rules for new companies
On 28 October 2021, Law no. 150 was adopted in the Republic of Moldova, based on the terms of which the registrars of the Moldovan Trade Registry are now obliged to effectively identify the Ultimate Beneficial Owners (UBO) of newly incorporated Moldovan companies.
The law came into force on 5 December 2021 and starting from that date. In order to register a new company there is an obligation to provide a set of documentation regarding identification and verification of the UBOs (certified copies of his/her ID, certified, excerpts, PoAs, etc.).