Real Owner According to AML Act – Tax Optimization Company

By the novelty of the AML Act, the very definition of the real owner has undergone great changes, especially in the trustees’ funds. The new definition transposed part of the 4th AML Directive, where the actual owner defined the physical characteristics as a natural person, which has a direct or indirect direct or indirect influence on the legal person’s decision.

Tax optimization of the company – from the owner’s point of view

The actual owner will therefore always be a natural person, most often the one with the most decision-making powers.
The founder of the fund, the trusteeship manager or the fancier is also considered the real owner. The novel also solved a situation where it was exceptionally impossible to determine (after exhaustion of all available means) a real owner.

Here comes a legal fiction that states that the actual owner is either a natural person who is a member of a statutory body or a person who is a representative of a legal entity in such an authority or a natural person in a similar position (eg when he is in charge of the management of a legal person ).

There is an obligation for all legal entities and trustees to keep up-to-date internal records of the actual owner and to archive the data for at least 10 years.

Other responsibilities of an offshore businessman

In addition to internal records, the above persons are required to enter information about actual owners in the records of the data. This under the Act on Public Registers of Legal and Natural Persons. On January 1, 2018, a record of real owners was created, which is by its nature a non-public register. This record is kept by the registry (regional or municipal court in Prague) courts. Access to these records is only allowed to state authorities and to those who demonstrate legal interest. The registration fee for the real owner is CZK 1,000.

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