Are you ready for the stricter rules?

Stricter control of beneficial owner

The rules regarding the control of the beneficial owner may be further tightened according to Finansinspektionen. Today’s requirements are that you should have full knowledge over who is registered as the beneficial owner of all companies you do business with.

As a beneficial owner, you own more than 25% of the company’s shares and thus have significant control over the company. If no one owns more than 25%, an alternative beneficial owner is appointed. The rules today require that you continuously check who is the beneficial owner of all companies you do business with. This is to counter crime such as money laundering and terrorism. If the new rules come into force, you will also have to do the same check for the alternative beneficial owner from the beginning of January 2020.

Daily check of the beneficial owner

It is recommended to have a daily check of who is the beneficial owner of the companies you do business with. With webhooks monitoring you don’t need to submit your customer register to a third party for updates. When there is a change of beneficial owner the update is sent to you. This is the easiest and safest way to comply with the requirements of Finansinspektionen.

Click here for daily monitioring of beneficial owner!