SLP - Disclose of the LP's (Beneficial Owners)
Question:
...He wanted to know if the SLP as a legal personality would have to disclose the LP's (ultimate investors) to external authorities or they remain 100% anonymous because only the SLP (fund) acts as counterparty?...
Answer by Milo (14.04.2021):
The Luxembourg special limited partnership is indeed legally required to declare to the Luxembourg RBE (Registre des Beneficiaire Effectifs) who the UBOs (LPs with more than 25% interest in the SLP) are. More on this at the following website: https://www.harneys.com/insights/luxembourg-register-of-beneficial-owners/.
This is indeed why in all quotes for GL-SLP structures there is an item called 'RCS UBO Declaration Filing' or 'RBE Registration'.
Also, as far as I am aware, such information can then be publicly accessed via an RCS paid service as the following website:
https://www.lbr.lu/mjrcs-rbe/jsp/IndexActionNotSecured.action?time=1618409546870.
and
...applies to Luxembourg companies, being ISP a Swiss entity I would not really know what their internal policies dictate, but for sure if they manage a Luxembourg securitisation vehicle, the UBOs of such vehicle will need to be declared to the RBE. In terms of noteholders, as I said it depends on the paying agency policy, but I would strongly believe yes they will need to know who the UBO behind an investment is, for AML purposes.