On 16 December 2021, the Netherlands published the Implementation Act on the registration of beneficial owners of trusts and similar legal arrangements (Act of 24 November 2021) in the Official Gazette. The implementation of the beneficial ownership registration requirements for trusts and similar is required as part of the EU Anti-Money Laundering Directive as amended. The requirements apply to all trusts and similar legal arrangements of which the trustees reside or are established in the Netherlands or, if residing or established outside the EU, the trustee enters into a business relationship in the Netherlands or acquires real estate in the Netherlands on behalf of the trust. Under the requirements, a trustee needs to submit the required information regarding a trust and its beneficial owners within one week after the obligation to do so has arisen. However, an initial three-month transition period will be provided after the Act enters into force, which will be determined by Royal Decree.