Latvia has assessed and the Cabinet of Ministers has approved the assessment which followed the judgment of the Court of Justice of the European Union of November 22, 2022 and the findings contained therein. Experts from the Ministry of Justice and the Enterprise Register have concluded, after evaluating the arguments included in the judgement and national framework of Latvia, that there is no reason to change the current approach, ensuring the availability of information regarding ultimate beneficial owners (UBOs) to all members of society.

While maintaining unrestricted access to information, secure business environment in Latvia shall be ensured, promoting the achievement of the objectives of the Law on Prevention of Money Laundering and Terrorism and Proliferation Financing, as well as is necessary for the fulfilment of the requirements laid down in the Law on Sanctions.

Accordingly, the practice of the Enterprise Register does not change - the availability of information regarding UBOs of legal persons is ensured to the extent of the previous amount, i.e. in Enterprise Registers’ website https://info.ur.gov.lv, through service “system in a system” (API service) and is transferred to re-users of the Enterprise Registers’ information.