Obligation to register in the Transparency Register - Changes 2021 - Important information for clients

The new draft for a Transparency Financial Information Act on Money Laundering (TraFinG Gw) presented by the German Federal Ministry of Finance on December 23, 2020 will impose new obligations on companies, affecting GmbHs in particular.

The new law is scheduled to come into force on August 1, 2021 and will transform the German transparency register from the previous catch-all register to a full register. The German parliament ("Bundestag") will vote on the law on June 10, 2021.

Up to now, the obligation to notify the transparency register has been deemed to have been fulfilled if the prescribed information on the beneficial owner can be found in other registers - such as the commercial register. This particularly affects limited liability companies (GmbHs), which were previously able to benefit from the notification fiction. This will change with the planned amendment to the law.

We would like to draw your attention as our client to the fact that it is necessary to take action here. As a company, you are obliged to check your obligation to be entered in the transparency register and to regularly check whether the obligation or the entry made is up to date.

We will be happy to support you in checking whether you need to take further action and in the subsequent necessary entries in the transparency register. Simply get in touch with us.

WZM continues growing in the area of young lawyers

Since this March we welcome Sven Krüger as another member to our team of lawyers. After successfully completing his legal clerkship in Rostock in the north of Germany, he has now started his professional life as a lawyer at WZM.

"I am very much looking forward to becoming part of the WZM team. I have already gained experience in law firms of various sizes, but also outside the traditional legal tracks. My aim is to work with full commitment to achieve best results for you as our clients, while -in addition to the quality of legal expertise- considering the other, non-legal aspects and challenges of your case.“

Our new lawyer Emine Kruse introduces herself

Since this month I am a part of the team of WZM. I would like to make my contribution here to providing goal-oriented and assertive legal advice. In providing legal advice, it is crucial for me to deliver tailor-made solutions for our clients and likewise to choose the right instruments to enforce our claims. If mediation does not lead to success, I feel very much at home in civil procedure law.

As a native Turkish speaker, I would also like to enrich the WZM team linguistically. I look forward to working with you.
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Bu aydan beri WZM hukuk ailesinin bir parçası olmaktan mutluyum. Burada hedef odaklı ve iddialı hukuk danışmanı olarak katkıda bulunacağım. Avukatlık danışmanlığında benim için en önemli faktör müvekkillerimize özel cözümler bulabilmek ve bu anlamda doğru enstrümanları seçebilmektir. Arabuluculuk çabalarımız bir çözüm getirmediği takdirde, medeni usul hukuğu ışığında destek olacağım.

Türk bir hukukcu olarak WZM ailesini dilsel olarakta zenginleştirmekten mutluyum.

We keep growing

Alexandra Nau joined our team in March 2021. She is a trained paralegal and now supports our office with her professional experience of more than 10 years in law firms.

We are very excited to welcome Alexandra to our team.

Further reinforcement

Emma Rakosi studies law at the Goethe University in Frankfurt and supports the WZM team in scientific research and in the office team since January 2021.

We are very excited to welcome Emma to our team.

Strengthening the team

Season Greetings

To our dear clients and business partners -

We would just like to thank you from the bottom of our hearts for your exceptional cooperation and trust that you have shown us during this special year.

A small gift can make a big difference!

It is for this reason that this year we have decided to support the Trösteteddys Campaing for children in difficult situations as well as the Frankfurter Verein für soziale Heimstätten e.V.

Our entire team here at WZM would like to wish you a very happy, safe and successful start to 2021.

THE M NOW IS AN A, YET IT STAYS TO BE A M

Fruit donations for Corona heroes

Our team is happy to receive fresh fruit in the office every week since the beginning of the year. Our supplier, the company Frutiful, is currently supporting nurses, doctors, paramedics and people in need in the Rhine-Main region, who have reached the edge of their stress limit due to the corona crisis. To also express our appreciation, we are very happy to support this project and sponsor a weekly fruit delivery to the nurses of the St. Joseph elderly care centre in Frankfurt.

Rotary Club Foundation Cara

For our firm, social commitment is a matter of the heart. It is important for us to stand as a good example and to support various projects on a regular basis. We are therefore very pleased that our research assistant Cara Dielmann, as one of the youngest Rotary presidents in the world, has recently founded her own Rotary Club and has been especially active in social commitment.

WZM advises several private individuals

WZM advises several private individuals on the formation of a stock corporation for the acquisition of a large German advertising agency.

The lawyers of WZM represent the owner of a major car showroom

The lawyers of WZM represent the owner of a major car showroom from the Rhine-Main area in the acquisition of the majority of voting rights over another car showroom. The advice focuses on questions of corporate law and credit law.

Meeting of the Rhein Main Regional Group

On 29.01.2020 a meeting of the regional group Rhein Main of MK BauImm Mediation und Konfliktmanagement in der Bau- und Immobilienwirtschaft e.V. took place at WZM on the invitation of our construction mediator Gero M. Wähner. Following very informative keynote speeches by Ms. Lawyer and mediator Birgit Schaarschmidt on "Avoiding conflicts on construction sites through intelligent communication" and Mr. Sebastian Fellner, BCC Business Communications Consulting GmbH, on "Successful construction site communication with the neighbourhood", an exciting and lively discussion followed among the participants, including mediators, civil engineers, experts and representatives of real estate and housing construction companies and DB Netz AG.

WZM supported the sale of an Italian solar park portfolio

WZM successfully supported the sale of an Italian solar park portfolio in the three-digit million range by Luxembourg investment funds until the conclusion of the contract.

Christmas party

Following the invitation of our cooperation partner Unigarant Berlin, on the occasion of our Christmas party on December 06, 2019 we travelled to the German Capital Berlin. After a delicious buffet with Berlin and Brandenburg specialties, we headed for the roulette and poker tables, following the party motto "Casino Royal". For those who were not lucky in the game, a talented quick-draw artist painted them or they could use the photo box for joint snapshots. The celebration naturally ended on the dance floor, where the party went on until dawn.

WZM advises several shareholders

WZM advises several shareholders, managing directors and board members in status determination proceedings and in opposition proceedings against social security institutions.

Team reinforcement

Attorney Dina Ostmann has joined our team in October 2019. She recently gained experience in the Corporate/M&A team of a medium-sized Frankfurt law firm and will use her expertise primarily in corporate law issues. We are very pleased to welcome Dina Ostmann to our team and are looking forward to further expanding our corporate practice.

Company trip Amsterdam

This summer, together with our cooperation partners Unigarant Frankfurt and Unigarant Berlin, we went on a joint company trip to beautiful Amsterdam. With the best weather, we explored the sights of Amsterdam on a guided tour, enjoyed Dutch specialties and wrapped up the weekend with a convivial barbecue on the North Sea beach. This weekend together was a great experience for all of us and not only strengthened the team spirit in our own team but also extended the friendship with our cooperation partner Unigarant.

WZM advises several German-based wealthy private clients

WZM advises several German-based wealthy private clients on making voluntary declarations to the German tax authorities and in negotiations with foreign banks. This concerned banks in Switzerland, Liechtenstein and Luxembourg. In all cases, complete tax returns were subsequently filed in favour of the German tax authorities. Not a single case resulted in criminal convictions.

WZM advises on the sale

WZM advises on the sale of a financial company active in the transport sector from a German bank to the subsidiary of a German car manufacturer. This included in particular the support of the due diligence, the negotiation of the purchase agreements and the clarification of regulatory issues.

Claim for restitution

WZM successfully supported the complete dismissal of a claim for restitution and payment by the insolvency administrator of a former wind project developer with a volume of over € 4,500,000.00 in the first instance.

WZM advises a German Finance Company

WZM advises a German Finance Company on the due diligence and legal analysis of its loan collateral.

WZM advises the subsidiary of a German automobile manufacturer

WZM advises the subsidiary of a German automobile manufacturer on the implementation of a Europe-wide acceptance network for fuel and service cards. A particular focus is on the implementation of a contract and pricing model for contracts with charge point operators and on questions of electromobility.

Postal and logistics service provider

WZM advises an internationally active postal and logistics service provider on the consortium operating the planned car toll. This concerns the negotiation of the contract documents for the planned car toll as well as the examination of insurance law and European law issues.

WZM advises a family office

WZM advises a family office in Frankfurt am Main on the restructuring of the entire real estate portfolio and on the clarification of inheritance law issues.

WZM supports the sale of shares

WZM supports the sale of shares in a German medical products trading company with a total volume of 4 million euros.

Onshore wind farm

WZM is accompanying the sale of a German onshore wind farm with a volume of around 27 million euros.

Contract drafting

For cooperation with a German truck manufacturer, WZM represents South Korean electrical goods manufacturers for the purpose of contract drafting.

Institutional investor

Institutional investor takes a stake in a German recycling company with a volume of around 28 million euros. WZM successfully supported the project through due diligence and leading the contract negotiations up to signing and closing.

WZM advises a consortium

WZM advises a consortium of German, French and Swiss companies on the award of the planned car toll to the Federal Republic of Germany. This includes the legal review of the award procedure, the negotiation of the contract documents as well as the review of corporate and European law issues.