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SECURITIES AND EXCHANGE COMMISSION Metro Manila, PhilippinesFORM 23AREVISED INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 23 of the Securities Regulation Code1.

How to fill out initial statement of beneficial

How to fill out initial statement of beneficial

1. To fill out the initial statement of beneficial, follow these steps:
2. Begin by stating the purpose or objective of the statement.
3. Provide the necessary background information about the beneficial owner.
4. Include details about the nature of the ownership or control over the assets or entity.
5. Clearly state the identification information of the beneficial owner, such as their name, address, and contact details.
6. Explain the source of funds or wealth of the beneficial owner, if applicable.
7. Specify any relationships or affiliations the beneficial owner has with other entities or individuals.
8. Include any additional supporting documentation or evidence to substantiate the claims made in the statement.
9. Review the statement for accuracy and completeness before submitting it.
10. Sign and date the statement to certify its authenticity.
11. Submit the completed initial statement of beneficial to the relevant authority or entity.

Who needs initial statement of beneficial?

1. The initial statement of beneficial is required by entities or individuals who are subject to regulations or laws pertaining to anti-money laundering (AML) and know your customer (KYC) procedures.
2. Financial institutions, such as banks, investment firms, and insurance companies, often require this statement to assess the risk associated with their customers or clients.
3. Companies conducting business internationally or engaging in high-risk activities may also need to provide an initial statement of beneficial to comply with local laws and regulations.
4. Additionally, government agencies or authorities involved in regulating or overseeing financial transactions may request this statement to ensure transparency and prevent financial crimes.

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What is initial statement of beneficial?

Initial statement of beneficial is a document that discloses the details of individuals or entities who hold significant ownership or control over a company.

Who is required to file initial statement of beneficial?

Any company or entity that falls under the regulatory requirement to disclose beneficial ownership information is required to file an initial statement of beneficial.

How to fill out initial statement of beneficial?

The initial statement of beneficial can typically be filled out online through a designated regulatory authority's website or submitted in a physical form with the required information.

What is the purpose of initial statement of beneficial?

The purpose of initial statement of beneficial is to provide transparency and prevent money laundering, corruption, and other illicit activities by identifying the individuals or entities with significant ownership interests in a company.

What information must be reported on initial statement of beneficial?

The information typically includes the name, address, nationality, and percentage of ownership or control of the individuals or entities identified as beneficial owners.