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As mentioned
before the main purpose of the new act is to safeguard the high level of
integrity of the Dutch financial sector.
In this respect each trust company is, before rendering any
services to the prospect client, obliged by law to verify and determine
each prospect’s identity and in general his (financial) good standing
and integrity.
Once the above is determined by the
trust company, the trust company can formally accept the client and only
upon acceptance Dufisco is allowed to start
rendering its professional services.
In order to formally accept the client Dufisco
need to be informed about the following:
- The identity of the ultimate beneficial
owner.
This identity is to be determined by a legalized and apostilled copy of the person’s valid
passport. Also full name, private address and profession should be
informed. An original bank reference letter addressed to Dufisco stating the person is of good standing
should be submitted as well.
- Is the UBO a Political Exposed
Person?: Dufisco requires to be informed about
the UBO being a PEP, incase the UBO is political active or was
political active over the past three years. The information should
cover the level of politics (municipal, regional, national) and also Dufisco should be informed in case members of his
family have been political active during said three years.
- Information enabling Dufisco
to determine that this person indeed is the ultimate beneficial owner
of the client company. Each person having at least 10% of the direct or indirect
ownership is considered to be an “ultimate beneficial
owner”. Such information can be a written document by a lawyer,
an accountant or any other professional, confirming this
person’s interest in the company together with attached copies
of corporate documents such as register of shareholders or corporate
structure, substantiating the situation. In other words the chain
of ownership of the UBO through all interposed entities until the
Dutch company should be clarified and made fully clear to Dufisco.
- A written description regarding
the source of income of the ultimate beneficial owner. This
description should state the person’s interests, his financial
wealth, as well as a description of the person’s working career
(C.V.).
- An organogram showing the company and its parent
companies and or its subsidiaries, if any. Especially when the
ultimate beneficial owner is not the direct owner of the company, a full
disclosure of the corporate structure is required.
- A description of the purpose of the
Dutch company as well as its intended activities as well as possible (tax or
any other) reasons to form a Dutch company.
- A “Management Agreement”
should be agreed and executed with the client. This document is
submitted once agreement has been reached and confirms amongst others
our fees, etc.
We repeat that all this information is to be submitted to Dufisco in original form.
Once
the information submitted to Dufisco, is understood, verified and approved
by Dufisco, the client will be formally accepted. Only than Dufisco
is prepared (and allowed by law) to render its services.
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