Financial institutions and all kinds of other service providers have to identify their customers. If that customer is a legal entity, VOF, partnership, limited partnership or trust, the ultimate beneficial owner (UBO) must also be identified. Notaries also have to establish this with their own clients.
In addition, subject to a number of specific exceptions, every legal person and other legal entity is obliged to register in the UBO register who its UBOs are.
Many institutions do not want to find out all this themselves and would like a statement from a notary. We then find out who the UBO is. To establish that, we want to see the following documents:
- the articles of association and company contracts of all legal entities in the structure;
- recent extracts from the trade register of all legal entities in the structure;
- the register of shareholders or certificate holders of each of the legal entities in the structure;
- outstanding purchase agreements or option agreements in respect of shares or depositary receipts for shares;
- voting agreements.
In addition, we need the following information from all UBOs:
- certified copy of their identification documents;
- address details; if the UBO does not reside in the Netherlands, certified bank statements/utility bills or a certified extract from the municipal registers are required for this.
If shares or depositary receipts for shares are part of a matrimonial community of property or community of partners, only the spouse/partner in whose name the shares/certificates are registered is relevant in determining whether he/she is a UBO and the entire interest that has fallen into the community of property is attributed to him/her.
If you need a UBO declaration or you would like us to take care of the UBO registration in the UBO register, please contact us, we will be happy to help you.
pkooijman@kooijmanautar.nl
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