Register of Beneficiaries of Spain

21.08.2023 The rules on the implementation of the project of the central state register of final beneficial owners of Spain have been published. They will come into force on September 19, 2023.
Royal Decree 609/2023 of July 11 applies to all Spanish legal entities and other organizations or structures without the status of a legal entity that have an effective management location in Spain, or they conduct their main activities in this country. The Decree also affects organizations that are managed or administered by individuals or legal entities residing or established in Spain.

Some companies have already transferred information about their final beneficiaries to industry registries.

Commercial companies are required to notify the Spanish Commercial Register of any changes in the composition of beneficiaries within 10 days of receiving the information. Enterprises that do not fulfill their reporting obligations may be excluded from the commercial register.

In relation to trusts, it is necessary to provide information about the identity of the founders, trustees, defenders, beneficiaries and any other individuals who ultimately exercise control over the trust. All this information will be stored in the registry as long as the person remains a beneficiary, and for another 10 years after that.

However, the information provided in the registry will not be public. Persons wishing to gain access to the registry information will have to confirm their identity and provide evidence of their legitimate interest.

Link to source: https://www.boe.es/diario_boe/txt.php?id=BOE-A-2023-16159