Moneyval: Monaco makes public the companies, associations whose ownership is unknown

As part of its Moneyval obligations, the Monaco government has published a list of all companies and associations in Monaco whose ownership has not been identified or activity is suspicious. 

In its evaluation report published on 23rd January, Moneyval, the Council of Europe’s anti-money laundering body, invited the Principality to exhaustively identify disowned companies, in particular civil societies, and to make this information visible and accessible to the public, financial institutions (FIs), designated non-financial corporations and professions (EPNFD) and competent authorities.

In July, the government called on all civil societies to register their “beneficial owners” directly to the Department of Economic Development.

On Thursday 14th December, the government released a statement saying that the list of civil societies registered in Monaco but with inconsistencies in ownership is now available on the link .

It identifies civil societies for which a lack of registered office has been identified or the statutory term has been exceeded.

It also lists commercial companies whose authorisation or declaration to exercise has been revoked or deprived of effect due to a lack of head office or absence of activity.

“We inform you that this list will be updated every two weeks as it is now an ongoing verification process for companies registered with the RCI,” said the government in its statement.

Related article:

Civil societies given new legal obligations to follow

Join the Monaco Life community – the largest English media in the Principality.   

Sign up for the Monaco Life newsletter, and follow us on Facebook, Instagram, LinkedIn and Tik Tok. 

Photo by Monaco Life