Frequently asked questions about the Single and Private Registry of Final Beneficiaries
- What is the Single and Private Registry of Final Beneficiaries (known by the Spanish acronym of RUBF)?
It is a system whereby lawyers that offer the services of resident agent, register the legal entities that they represent and their final beneficiaries.
- What is the entity responsible for ensuring compliance?
The Superintendence of Non-Financial Subjects (known by the Spanish acronym of SSNF).
- Is the registration to the RUBF mandatory?
All resident agents have the obligation to register with the RUBF.
- Is there any cost to register with the RUBF?
There are no registration costs.
- What are the steps to follow to comply with the RUBF?
◦ Register as a resident agent;
◦ Register the corporation; and
◦ Register the final beneficiaries.
- Legal basis?
Law 129 of 2020 and Executive Decree No.13 of 2022.