Recital 55

(55) Through the interconnection of the central registers, both national and cross-border access to information on the beneficial ownership of legal arrangements contained in each Member State central register should be granted based on the definition of legitimate interest, by virtue of a decision taken by the entity in charge of the relevant central register. To ensure that decisions on limiting access to beneficial ownership information can be reviewed, appeal mechanisms against such decisions should be established. With a view to ensuring coherent and efficient registration and information exchange, Member States should ensure that the entity in charge of the central register in their Member State cooperates with its counterparts in other Member States, including by sharing information concerning trusts and similar legal arrangements governed by the law of one Member State and administered in another Member State or whose trustee is established or resides in another Member State.

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Source: EUR-Lex CELLAR · retrieved 2026-09-04 · Text as adopted (Official Journal); later amendments are not incorporated in this text.