MACEDONIAN BANKING ASSOCIATION INVITES CLIENTS OF BANKS AND SAVINGS HOUSES TO REGISTER IN THE REGISTER OF ACTUAL OWNERS

The Macedonian Banking Association invites all legal entities - clients of commercial banks and savings houses that are obliged to register as actual owners in the Register of Actual Owners, to make the registration in the Register within the legally prescribed deadline of 27.04.2021, for further smooth execution of payment operations and established business relations.

The Register of Actual Owners, which is kept within the Central Register of the Republic of North Macedonia, started its operations on 27.01.2021, and the deadline of 90 (ninety) days for reporting data by actual owners is ongoing.

Registration of an actual owner in the Register of Actual Owners is done electronically in the Central Register of North Macedonia (https://www.crm.com.mk).

Pursuant to the he Law on Prevention of Money Laundering and Financing of Terrorism, all legal entities that are subject to registration in the Central Register of the Republic of North Macedonia are obliged to register data on actual owner/s by 27.04.2021 in the Register of Actual Owners, while the legal entities established (registered) after 27.01.2021 must within 8 (eight) days from their establishment registration enter data on actual owners in the Register of Actual Owners.

The obligation to enter data on actual owners in the Register of Actual Owners does not refer to:

sole proprietors, persons exercising public authority, budget beneficiaries, state-owned legal entities, legal entities in bankruptcy and liquidation proceedings, self-employed, as well as legal entities whose shares are listed on an organised securities market that are obliged to comply with the requirement to publish data on actual owners, which ensures adequate transparency of ownership information in accordance with relevant international standards.

Starting from 28.04.2021, the banks are obliged to check the data on actual owners in the Register of Actual Owners and to provide proof that a proper entry has been made in the Register of Actual Owners for all clients - legal entities.

If the client - legal entity does not register an actual owner in the Register of Actual Owners within the stipulated deadlines, or the data in the Register are not updated in accordance with the legal deadlines, the operation with the accounts will be disabled / postponed until it registration / update of the necessary data on actual owner /  s is made in the Register.