The public, i.e., natural persons/individuals or organisations, will be entitled to review the register only if they demonstrate “legitimate interest”. Member States will then be obliged to make accessible at least information about the name, the month and year of birth, nationality and country of residence of the beneficial owner as well as the nature and extent of the beneficial interest held. Nevertheless, Member States will be able to condition access to the register on prior registration online and a fee up to the administrative costs or refuse access to the register for special reasons. With regard to trusts, the Directive does not contemplate public access to them at all.
In relation to public institutions, the possibility to conceal equity participations in companies or trust ends upon implementation of the Directive into the law of the Member States. The public, however, may continue to not have access to such information without demonstrating serious reasons.
Member States are obliged to implement the obligations under the Directive into national legislation by 26 June 2017. One can only hope that the Directive will not be implemented into Czech law in such an extensive way that would, in the interests of money laundering, even more negate the purpose of various legal concepts, the essence of which is confidentiality.