The new EU anti-money laundering package and its impact on foundations

Whether purchasing or selling real estate, opening bank accounts, or engaging a tax advisor—accurate registration in the transparency register is a prerequisite for entering into the relevant contracts in each case. Starting 10 July 2027, the relevant provisions will change as part of Europe-wide harmonization under the EU Anti-Money Laundering Package. For foundations and their subsidiaries, this will result in additional reporting requirements regarding information on beneficial owners, which are of great practical relevance. In their article, Dr. Katharina Gollan and Dr. Michael Feldner provide an overview of the key changes affecting foundations.