Beneficial Owners, Ownership & Control Structure
An effective tool for client-companies with a more complex ownership structure.View the sample
According to the Money Laundering and Terrorist Financing Prevention Act companies are required to implement certain due diligence measures for the management of risks related to money laundering and terrorist financing and to follow the Know Your Customer principle.
For example, when business relationships are established, audit and accounting services are provided or traders are paid (or pay) an amount exceeding 10,000 euros in cash, it will be necessary to identify the identity of the persons, their right of representation and the company’s beneficial owners, to determine the customer’s location or place of business and to regularly update the data collected in the course of the implementation of due diligence measures.
We have therefore prepared the report “Beneficial Owners, Ownership and Control Structure”.
What information the report includes?
- Basic info (status, date of registration in Commercial Register, business type, capital, area of activity according to EMTAK and NACE2, legal and business address, financial year and information about the last annual account submitted)
- Current representatives
- Current members of council
- Current shareholders/stockholders
- Other persons connected to company
- Beneficial owners, including a) Creditinfo Beneficial Owner (with their participation rate in equity of the company), b) visualized ownership structure (visualized chain of connections between company and beneficial owner); c) Beneficial owner from Commercial Register
- Legal Entities Previously Connected to the Company
We have added data from the Population Register for all related persons in addition to the data recorded in the Commercial Register (related person’s name, ID code/registry code, role, start date of role, the size of ownership): Estonian citizenship identifier; information about residence permits and rights; death identifier; and person’s name according to the Population Register if it is different from the information in the Commercial Register.