Get the free Beneficial ownership statement

Beneficial ownership statement The company. Hereby confirms that: The following individuals own directly or indirectly 10% or more of the shared capital of the company, Last Name First Name Citizenship

How to fill out beneficial ownership statement

How to fill out beneficial ownership statement?

1. Start by gathering the necessary information: Before filling out the beneficial ownership statement, you will need to collect relevant details about the individuals or entities who have a beneficial interest in the company or organization. This includes their full legal names, contact information, and the percentage of ownership they hold.
2. Clearly identify the company or organization: Provide the legal name, address, and any other required identification details of the company or organization for which the beneficial ownership statement is being filled out. This information is crucial for accurately associating the beneficial owners with the correct entity.
3. List all beneficial owners: In this section, you will need to list each beneficial owner and their respective ownership percentage. Include their full legal names, residential addresses, and any additional contact information required. Ensure accuracy when providing these details to avoid any potential discrepancies.
4. Indicate the nature of the beneficial interest: Specify the nature of each beneficial owner's interest, whether it is through direct ownership, indirect ownership, or other forms of beneficial ownership. This information helps in establishing a clear understanding of the ownership structure and relationship between the beneficial owners and the company or organization.
5. Sign and certify the statement: At the end of the beneficial ownership statement, there will typically be a section for signatures and certifications. Ensure that all required signatures are obtained from the appropriate individuals, such as company directors or authorized representatives. By signing, you confirm the accuracy and completeness of the information provided.

Who needs beneficial ownership statement?

1. Financial Institutions: Banks, credit unions, and other financial institutions are often required to maintain records of beneficial ownership to comply with anti-money laundering (AML) and know your customer (KYC) regulations. These institutions may request a beneficial ownership statement from their clients as a part of their due diligence process.
2. Regulatory Authorities: Government regulatory bodies, such as tax authorities, securities regulators, and business registration agencies, may also require beneficial ownership statements for reporting and compliance purposes. These statements can help ensure transparency in business transactions and detect potential risks related to illicit activities.
3. Business Partners: Companies engaging in business transactions with other entities, such as mergers, acquisitions, or partnerships, may request a beneficial ownership statement to assess the ownership structure and any potential conflicts of interest. This allows them to make informed decisions and mitigate risks associated with the ownership arrangements.

In summary, filling out a beneficial ownership statement involves collecting accurate information about the beneficial owners, clearly identifying the company or organization, listing all beneficial owners and their ownership percentages, indicating the nature of their beneficial interest, and signing and certifying the statement. Financial institutions, regulatory authorities, and business partners often require beneficial ownership statements to comply with regulations, ensure transparency, and assess potential risks.

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