Registration in the Slovak RPVS is not a one-off task. Once a year the authorised person must check again that the beneficial owner details still match reality. The reference date is 31 December, and the application to record the result must be filed by 28 February of the following year. In Slovakia this is known as the winter verification, and it applies to every registered partner.
In the autumn we send you a list of the documents we will need. We review owners, statutory officers, shareholder agreements and whether any beneficial owner has become, or stopped being, a public official. We then prepare a new verification document and file it with the Žilina District Court. Changes during the year are registered separately rather than left until December.
Verification is carried out as at 31 December, and the result must be filed by 28 February of the following year (Section 11 of Act No. 315/2016).
It is also required when registered details change, in connection with a new contract and after a qualified complaint. Section 11(2)(d) and (e) require it for payments above €250,000 at once or above €1,000,000 within 30 days.
An authorised person who breaches its duties in identifying or verifying beneficial owners can be fined €10,000 to €100,000 under Section 19 of Act No. 315/2016.
Articles are in Slovak.
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This page is for general information, reflects Slovak law at the time of writing and is not a substitute for advice on your particular matter.
