REGISTER OF ULTIMATE BENEFICIARIES AS A LEGAL MECHANISM FOR TRACKING THE REAL OWNER OF THE COMPANY. EXPERIENCE IN RUSSIA AND ABROAD

Abstract

In 2015, the European Union adopted the Fourth European Union Directive 2015/849 of the 20th of May, 2015 «on the prevention of the use of the fi nancial system for the purpose of money laundering and terrorist fi nancing», which introduced the most important innovation – the introduction of a public register of benefi cial owners of European companies and other structures. This article examines the reaction of individual countries to the main proposals and comments of the Directive, which is refl ected in the amendments to the current legal system. Special attention is paid to offshore zones, which are trying to fi nd a compromise between the comments of the European Union, promoting business transparency, and the principle of anonymity, which is the main privilege of offshore territories and which attracts a considerable fl ow of entrepreneurs and their investments. In addition, the article deals with the problem of contradiction of the Russian legislation regulating the procedure for maintaining the register of benefi cial owners and providing information contained therein. The article formulates the main conclusion regarding the register of benefi ciaries as a new modern trend of international tax planning, which should be taken into account in the future when creating the structure of foreign companies, as well as when choosing the jurisdiction in which business activities are planned.