The mode of declaring an ultimate beneficial owner (UBO) is relieved. Where shareholders or capital sole owners are registered legal entities or establishments of similar nature, the obligation to declare arises:
- if the UBO pursuant to § 2 of the Additional Provisions of the AMLA are not entered in the Commercial Register, in the Register of Non-Profit Legal Entities and in the BULSTAT Register as partners and / or sole proprietors of the capital in the accounts of legal entities involved in the property chain persons or of legal entities of similar nature established on the territory of the Republic of Bulgaria, or
- if these legal entities are not established on the territory of the Republic of Bulgaria.
The duty of the joint stock companies to declare their shareholders because they do not fall under the exceptions specified by the AMLA remains intact.
New deadline for adopting AML internal rules
The obligation to send the rules to SANS is no longer applicable.
The persons obliged under the AMLA shall enact or create their AML internal rules in accordance with the requirements of Art. 101 of the AMLA within 6 months from the publication of the results of the national risk assessment on the website of SANS. A message to the mass media shall also be sent to publish the results.