Important deadline for registration in the transparency register expires

For limited liability companies, cooperatives, partnership companies and UGs, the transitional period for registration in the transparency register expires on June 30, 2022.

As of August 1, 2021, many companies and associations are required to register in the transparency register. Companies and organizations whose obligation to register was previously deemed to have been fulfilled by the notification fiction must make up for the registration of the beneficial owner(s) within a transition period. This transitional period for GmbHs, cooperatives, partnerships and UGs (haftungsbeschränkt) expires on June 30, 2022. Violations of the registration and transparency obligations are considered an administrative offense that can be punished with a fine of up to 150,000 euros.