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Loucif + Co
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New Obligations related to the Public Register of Beneficial Owners in Algeria

The Decree No. 23-429 dated 29 November 2023, concerning the Public Register of Beneficial Owners of Algerian legal entities (“Decree 23-429”) has been published in the Official Gazette on 30 November 2023.

Key Points:

  • Publication of Decree No. 23-429 of 29 November 2023 defining the procedures for keeping the Public Register of Beneficial Owners of Algerian legal entities.
  • Each Algerian legal entity is required to declare its beneficial owner to the National Centre for Trade Register, and to provide certain information on its beneficial owner.
  • The beneficial owners of legal entities are the individuals who ultimately exercise control over a legal entity.
  • Decree 23-429 provides for alternative criteria to characterize control.
  • The Register is set up at the National Centre for Trade Register.
  • Register data is accessible to the competent authorities and the public, under conditions to be defined.
  • Legal entities set up before the date of publication of Decree 23-429 have until 30 November 2024 to comply.

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