Sole proprietors, freelances will be able to hide private addresses in trade register next year
Starting on January 1, 2022, the Chamber of Commerce will hide all information from sole proprietors and freelancers that are in the Trade Register. Only for the Tax Authorities, lawyers and debt collectors will it be possible then to view the data with a judicial order.
The business address of many sole proprietors and freelances is the same as their home address. To prevent the misuse of the data, the Cabinet decided to make the personal information in the trade register private. The king still needs to approve the change.
The trade register is a public database where anyone can check the information of their business partner to make sure it is correct.
The Ministry of Economics has been working on the Data Vision Trade Register in which the data of sole proprietors and freelancers stays protected but which also offers security for their business partners.
In November, the Cabinet will present a number of solutions on how to solve the dilemma. The best options will then be chosen for the definite version of the Data Vision Trade Register.