On October 13, 2019, the Central Register of Real Beneficiaries (CRRB) began to operate. In view of this, all Polish commercial companies will have to report information about their real beneficiaries to the register. A beneficial owner is understood to be an individual who directly or indirectly controls a company through the possession of powers that arise from legal or factual circumstances and that make it possible to exert decisive influence on the actions and activities undertaken by the company in question. In particular, an individual who owns more than 25% of the total number of shares or has more than 25% of the voting rights at the shareholders’ meeting, either as a pledgee or user or on the basis of agreements with others entitled to vote, is considered a beneficial owner. In light of the above, board members should carry out verification as soon as possible to determine the beneficial owners of the companies they manage.
