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§ 3 – Beneficial Owner – AML German Version

§ 3 – Beneficial Owner – AML German Version

§ 3 - Beneficial Owner - AML German Version

§ 3 – Beneficial Owner – AML German Version

(1) Benefical Owner within the meaning of this Act means

  1. the natural person who ultimately owns or controls the customer, or
  2. the natural person on whose behalf a transaction is ultimately conducted or a business relationship is ultimately established. Beneficial owners include, in particular, the natural persons listed in paragraphs 2 to 4.

 

§ 3 – Beneficial Owner – AML German Version

(2) In the case of legal persons, excluding foundations with legal capacity, and other companies which are not listed on a register lated market as defined in § 2 paragraph of the Securities Trading Act are no subject to disclosure requirements in conformity with Community legislation equivalent international standards, with regard to voting right shares, any natural person qualifies as beneficial owner who, is rectly or indirectly,

  1. holds more than 25% of the shares;
  2. exercises control over more than 25% of the voting rights, or
  3. exercises control in a comparable manner.

Indirect control exists, in particular, if spective interests are held by one or several associations as defined in § 20 paragraph which are controlled by a natural person.  Control is deemed to exist, in particular,

the natural person is able to exercise, rectly or indirectly, controlling influence over the association as defined in § 20 paragraph 1. § 290 paragraph 2 to 4 of the Commercial Code shall apply analogously the existence of controlling influence. If natural person was identified even after excution of comprehensive investigations in the absence of facts as defined in § 43 paragraph 1 or the existence of doubts as the beneficial ownership of the identifi person the legal representative, manageing shareholder or partner of the customer shall be deemed as beneficial owner.

 

§ 3 – Beneficial Owner – AML German Version

(3) In case of foundations with legal capacity and legal structures through which funds are managed and distributed by who of trust or through which third parties a commissioned with such management and distribution, or legal structures comparal to these, the beneficial owners include:

  1. any natural person who acts as a trustor, manager of trusts (truste e) or protector, if available;
  2. any natural person who is a member ofthe board of the foundation;
  3. any natural person who has been termined as beneficiary;
  4. the group of natural persons in whose interest the funds are to be managed ordistributed, provided that the naturalperson who shall become the beneficary of the managed property has not yet been determined, and
  5. any natural person who otherwiserectly or indirectly exercises controlling influence over the asset management or the distribution of profits.

(4) In the case of action on the initiative of another person, the person on whose initative the action is taken likewise qualifies as beneficial owner. If the customer acts as trustee, he is also deemed to act on the initiative of another person.

 

§ 3 – Beneficial Owner – AML German Version – Beneficial Owner

Further information about AML-CFT – German Version you find direct here:

 

Compliance & Geldwäschebeauftragter – § 3 – Beneficial Owner – AML German Version

Unsere Praxisseminare Geldwäsche und Fraud – BasisseminarGeldwäsche und Fraud – AufbauseminarGeldwäsche & Fraud – Update und Geldwäsche & Fraud – Forum verschaffen Ihnen einen umfassenden Überblick zu den aktuellen gesetzlichen Neuerungen und unterstützen Sie dabei, Geldwäsche- und Betrugsstrukturen zu erkennen, zu bewerten und rechtzeitig zu verhindern. In den Compliance-Seminaren wie ComplianceCompliance für VertriebsbeauftragteNeue Compliance-Funktion gemäß MaRisk oder auch Compliance im Fokus der Bankenaufsicht werden Ihnen die Ausgestaltung der Schnittstellen zwischen Compliance, Datenschutz, IT, Zentrale Stelle und Interner Revision näher gebracht. Auch die Mindestanforderungen zum Aufbau eines Gesamt-IKS werden hier beispielsweise näher erläutert.

Zudem haben Sie die Chance, nach Teilnahme der Seminare die Zertifizierungslehrgänge zum Compliance Officer, zum AML & Fraud Officer oder zum Geldwäsche-Beauftragter zu absolvieren.

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