Ultimate Beneficial Ownership (UBO) compliance has been one of the prevailing topics for policymakers and governments over the last decade, and 2020 is no exception.

Following the recent decision by the Austrian Supreme Court 23/4/2020, 6 Ob 59/20z, it was announced that any purchase and/or transfer of limited liability company (GmbH) shares shall be considered null and void if a notarial deed is missing.

As of 20 December 2020, a new regulation in Belgium was implemented allowing members of such types of entities, as SA/NV, SRL/BV, SC/CV, and A(I)SBL/(I)VZW, to participate in their shareholder’s meeting remotely. 

The recently issued notice by Federal Canada provides that the extension for providing financials and holding annual general meetings (AGMs) ended on 31 December, 2020 and no longer applies.