EU Trust Register UK Trust With Investments or Assets in EU
Published / Last Updated on 28/07/2022
The 4th and 5th EU Anti-Money Laundering Directives included requirements that a ‘trusts register’ for each member state must be established showing who set the trust up, who are the trustees and who are beneficial ownership of the assets inside the trusts.
Despite Brexit, the UK had already mirrored EU trusts registration rules with HMRC via the then new Trust Registration Service (TRS). We have covered this in previous videos, which came into force last year but was extended to include non-income and no tax liability producing trusts that came into force in October 2020 with a deadline for registration of September 2022.
Our Videos for UK Trust registration:
Trust Register 2022 Trust Register Changes Trust Gateway Account Register the Trust
By courtesy of news from Standard Life International, we now know that this 5th EU AML Directive will mean that UK trusts sold with e.g., an Irish offshore bond (such as the Standard Life International Bond) will have to register in Ireland (on their central register known as CRBOT) as well as the UK trusts already being required to register with the UK’s Trust Registration Service (TRS).
Each European Union (EU) member state must have already established a Central Register of Beneficial Ownership of Trusts (CRBOT) as the deadline was October 2021.
We have not established any offshore trusts, only UK ones but if you have via other means:
- A UK trust with assets held in an EU nation, you should take some advice about whether you are required to register your UK trusts (with EU assets) in any relevant EU CRBOT.
- A trust established in the EU; you need to take advice about registering if you have not already done so.
- A non-UK or non-EU trust with assets held in the EU, get some advice in the relevant EU State.
