- Date. 08/12/23
- Author. Rym Loucif
- Category. Articles
The Decree No. 23-429 dated 29 November 2023, concerning the Public Register of Beneficial Owners of Algerian legal entities (“Decree 23-429”) has been published in the Official Gazette on 30 November 2023.
Key points:
Publication of Decree No. 23-429 of 29 November 2023 defining the procedures for keeping the Public Register of Beneficial Owners of Algerian legal entities.
Each Algerian legal entity is required to declare its beneficial owner to the National Center for Trade Register, and to provide certain information on its beneficial owner.
The beneficial owners of legal entities are the individuals who ultimately exercise control over a legal entity.
Decree 23-429 provides for alternative criteria to characterize control.
The Register is set up at the National Center for Trade Register.
Register data is accessible to the competent authorities and the public, under conditions to be defined.
Legal entities set up before the date of publication of Decree 23-429 have until 30 November 2024 to comply.
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