The November judgment of the Court of Justice of the EU (CJEU), according to which access to the register of beneficial owners cannot be granted to the public across the board, has raised further question marks about the already discussed legislation.

In its decision, the CJEU responded to the concerns of those registered in the Luxembourg register of beneficial owners about the misuse of their personal data (e.g. residential address, exact date of birth) and determined that the unconditional publication of such information is impractical and, moreover, violates fundamental EU pillars such as the right to protection of private and family life and the protection of personal data of beneficial owners.

While access to the register has already been restricted in many foreign countries, the Czech law on the registration of beneficial owners has not been changed in any way, and the obligation to provide and publish information about beneficial owners continues. Although the Czech version of the register does not contain as detailed information on beneficial owners as its Luxembourg counterpart (only basic identifying information on beneficial owners is published: first and last name, year and month of birth, nationality and country of residence), the current Czech legislation clearly violates EU law. It is therefore very ikely that we will see further amendments or interpretative changes by the Ministry of Justice in the upcoming year.

Author: Hana Císlerová