Bürgel GwG Report enables companies to identify the beneficial owner(s) of a German contractual partner prior to initiation of a business relationship. The obligation to identify the natural person(s) (beneficial owner(s)) in the background of a business relationship is a fundamental principle to combat money laundering.
The beneficial owner as defined in the Prevention of Money Laundering Act is the natural person
- ultimately owning and controlling the contractual partner
- at whose instance a transaction is ultimately conducted or a business relationship is ultimately reasoned.
Beneficial owners in companies are all natural persons holding more than 25 % of the capital interest in a company or controlling more than 25 % of the voting rights. In addition to the communication data of the company in question, an indication of any existing significant negative criteria on the beneficial owner as well as the date of birth are stated in GwG Report.
- Report for the performance of a core obligation in accordance with the Prevention of Money Laundering Act including crucial information
- Quick and convenient research of the beneficial owner(s) by retrieval via NetConnect web or RCS interface
- Clearly structured research path including shares in per cent
- Indication if significant negative criteria on the beneficial owner exists