The act on money laundering and financing of terrorism, obligates us as a credit institution to always clear our customers' ownership structures and control and i.e. the beneficial owners of the company. In addition, we are obligated to investigate whether the beneficiary owners are persons in a politically exposed position. We therefore recommend that you have information about ownership structure and beneficial owner available to complete the application.
The company's beneficial owners are natural persons who own or hold more than 25 percent of the company's shares or voting rights - either directly or indirectly through one or several legal entities (such as companies or foundations) - or control the company in any other way.
If there is no such person, however, the legal entity must still appoint a beneficial owner. This person may be, for example, the Chairman of the Board, the Managing Director, an authorized company signatory or such. The company may also appoint several different beneficial owners.
A politically exposed person means a physical person who has, or has in the past 18 months had, an important public function in a state or in an international organisation. You may also be a family member or closely related to a person in a politically exposed position.
In this context, individuals with the following connection to person in a politically exposed position are considered family:
Closely related is:
By signing the form the corporate customer undertakes to inform the bank of any essential changes in the ownership structure without undue delay in case such changes have an effect on the information that the company has previously provided the bank with. Therefore, in case the company has new beneficial owner(s) or any previous beneficial owner is no longer a beneficial owner due to changes in the ownership structure; or in case changes altering parent company's beneficial owners occur, must the company's authorized representative(s) return a signed form with updated information.