Registration of changes to beneficial owners data

• Log in as a business on the e-Albania portal
• Select the service “Application for changing data in the Register of Beneficial Owners”
• Click the “Use” button
• Follow the application steps and fill in the electronic form with the necessary data (Identification of Beneficial Owners in accordance with legal provisions)

• If there is an addition of a new individual beneficial owner to the reporting entity, then the option: “Registration of the new beneficial owner” must be selected and his mandatory data must be filled in. • If the ownership is indirect, then to fill in all chain legal entities, the “Add person” button must be clicked and their data must be filled in according to the acts/evidentiary documentation. • If the reporting entity has a departure of an individual previously registered as a beneficial owner in the register, then the option: “Removing beneficial owner” must be selected and the data of the beneficial owner who is no longer a beneficial owner according to the legal provisions must be completed. • If the reporting entity has a change in the data of the previously registered owner, then the option: “Change of existing data of the beneficial owner registered in the register” must be selected by selecting the name of the beneficial owner whose data has changed, as well as completing the required information according to the factual situation/change.

• Click the “Send” button on the last page of the form
• Click the “Send signature code” button (The person authorized to complete the application must be equipped with an electronic signature)
• After the applicant enters the signature code, he gives the command “Sign”
• The application is reviewed by the authorized officer of the National Business Center, in accordance with the law and by-laws in force, within a period of 2 working days from the date of submission of the application.
• After reviewing the application, the relevant decision is made (Suspension/Approval/Rejection)
• The response to the application is sent to the subject's e-mail automatically by the system and to the "My Documents" section of "My Space" on the e-Albania portal after logging in as a business
• After the application is approved, the data is reflected in the Beneficial Owners Register

In the case of registering changes to the beneficial owners' data, the person authorized to carry out the application of the reporting subject attaches as accompanying documentation in electronic format, the following acts:

• documentation that confirms the unique identification number and name of the reporting subject, as well as the date of registration of the subject in the relevant register
• documentation that confirms the identification data of beneficial owner, (according to point 3.2.1, article 4, of the law on the register of beneficial owners)
• any other documentation possessed by the reporting entity for the identification and registration of its beneficial owner, according to the law on the register of beneficial owners, including the date of determination as beneficial owner, if this information does not result in the documentation according to the aforementioned subdivision.

In the case of registration of changes in the data of the beneficial owners of reporting entities, the registration is made within 90 (ninety) calendar days from the date of occurrence of the change.

• Failure to register any change in the registered data deposited in the register within the aforementioned deadline is punishable by a fine of 400,000 lek.

• Application for changing data in the Register of Beneficial Owners