Register of Beneficial Owners (ESM)
Register of Beneficial Owners (ESM)
Do you need an advice with registration of a beneficial owner? We can provide you all the administrative work "turnkey" and for minimum cost!
Important information
A member of the statutory body is liable for registering and as the registering body, he shall care about the company having duly registered its beneficial owners. However, also the beneficial owners are obliged to provide the registering person maximum cooperation, and to inform him immediately in case where there will be a change in the ownership structure, so that the registering person can not only update the list of shareholders, but also have updated the register according to new data.
The proving of a beneficial owner is naturally connected with a considerable administrative burden and the correct identification of the beneficial owner may be difficult!
In case of non-fulfilment of this obligation you are not allowed to vote in the General Meeting and there is a risk of penalty of up to CZK 500,000. So we recommend you strongly to have this matter in good order as soon as possible.
According to the definition of law, the beneficial owner in a business corporation is every individual who:
- is the controlling person under the Business Corporations Act;
- owns or controls the corporation by: having direct share or voting rights, including bearer share, higher than 25 %;
- has direct or indirect right to a share in profit, other owned sources or liquidation balance higher than 25 %;
- can control the corporation or corporations having individual or total share or bearer share in the corporation higher than 25 %;
- can control the corporation with other means (the control shall mean among others also other criteria within the meaning of the Directive of the European Parliament and the Council).
What to do in case of a company where the beneficial owner is not so clear, as for example in a limited liability company (s.r.o.) with more shareholders, joint-stock company (a.s.) or a company with a foreign shareholder?
Are you not sure who is the final beneficiary or a person with final control? Don’t you know what and where to prove in order to have it arranged quickly and without problems?
Verification of the beneficial owner
Write the business name (name of the company)
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