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Director Principal Shareholder Beneficial Owner Declaration  Form

Director Principal Shareholder Beneficial Owner Declaration Form

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[Music] the term beneficial ownership is now more widespread than ever but what does it actually mean in simple terms it is looking to navigate through layers of corporate entities trusts foundations Etc often across various jurisdictions to find out who are the real natural persons that ultimately enjoy the benefits from the assets or transaction understanding who you are really dealing with is critical to the onboarding and maintenance processes of customers suppliers and third parties anonymity enables multiple illegal activities such as fraud money laundering corruption terrorism financing and a whole host of other legal activities this is why governments ngos and other bodies such as the oecd G20 Transparency International and others have all made statements around the need to increase transparency around who owns legal entities and to make this available to the public this transparency is directly related to the effectiveness of a jurisdiction's ability to prevent detect and pros

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