Find out how to register in the public sector partner registry, what the obligations of a public sector partner and an authorized person are, and what the registration process entails. The law firm Hronček & Partners provides comprehensive services for authorized persons, including the identification of ultimate beneficial owners.
The primary obligation of a public sector partner is to be registered in the registry maintained by the Ministry of Justice of the Slovak Republic for at least the entire duration of the legal relationship from which it receives public funds. Furthermore, the partner is obligated to provide the authorized person with the necessary cooperation, in particular to provide accurate, up-to-date, and truthful information for entry into the register of public sector partners, and to always report any change that may affect the accuracy and timeliness of the data recorded in the register, as they are jointly responsible with the authorized person for the accuracy of the data recorded in the register.
How to register in the Public Sector Partners Register?
Registration in the register may only be performed by an authorized person, who, according to the Act on the Register of Public Sector Partners, may only be a lawyer, notary, bank, branch of a foreign bank, auditor, or tax advisor, with a registered office or place of business in the Slovak Republic. The authorized person is responsible for the correct identification of the ultimate beneficial owners of the public sector partner, which they must verify at regular intervals or in cases prescribed by law. The authorized person is also jointly responsible for the accuracy and timeliness of the data entered in the register and also handles all communication with the registering authority, which is the District Court in Žilina. A public sector partner may have only one authorized person, and their mutual relationship is defined in a separate written Agreement, which must contain the requirements specified in the Act on the Register of Public Sector Partners.
What is the procedure for registration in the Public Sector Partner Register, and what are the other obligations related to registration in the register?
First, you must contact an authorized person who will handle the registration for you. To ensure the correct identification of the ultimate beneficial owner, you must provide the authorized person with the necessary information and documents they request. The authorized person verifies the identity of the ultimate beneficial owner with a verification document. The authorized person will handle all other necessary steps for registration. However, the identification of beneficial owners is not a one-time matter, and the authorized person is required to perform the identification in cases prescribed by law, but at least once a year as of December 31 of the calendar year.
The authorized person thus becomes your long-term partner; therefore, it is important to consider their expertise and experience when selecting an authorized person. The law firm Hronček & Partners, s. r. o. is fully prepared to provide you with the authorized person’s professional services, along with expert advice and consultations.
No court or administrative fees are charged for the initial entry into the register of public sector partners, for the entry of any changes, or for deletion from the register. The registering authority will make the entry into the register within five business days, provided that all formal requirements are met and all mandatory attachments are submitted; however, during the transitional period from February 1, 2017, to July 31, 2017, the deadline for registration is extended to 10 days.
Author: Hronček & Partners, s. r. o. (www.partnerverejnehosektora.sk)
