Entrepreneurial consultations: company formation, an address and contact person services, accounting, VAT number, etc. specifically in Estonia, in EU.

Who is the real beneficiary of the company?

The definition of the beneficial owner is defined in § 9 of the Money Act, according to which a beneficial owner is a natural person who ultimately owns or controls a legal person through the direct or indirect holding of a sufficient number of shares, voting rights, or ownership, including participation in bearer shares or otherwise.

The real beneficiary can be through direct or indirect control. Direct control is when a natural person has a shareholding of more than 25% in a company. Indirect control is when a company that is controlled by a natural person or several companies that are controlled by the same natural person owns more than 25% of the company.

In principle, a situation is also possible where no natural person has a shareholding of more than 25% in the company. For example, it could be a private limited company with 4 shareholders with equal shares, all of whom have a 25% shareholding and the corresponding voting rights. Thus, within the meaning of the Money Act, none of them exercises control over the private limited company and such a legal person has no real beneficiary.

The Manual for adding beneficial owners:

[sociallocker] [pdf-embedder url=”http://virtualofficeinestonia.com/wp-content/uploads/2020/10/The-Manual-for-adding-beneficial-owners.pdf” title=”The Manual for adding beneficial owners”] [/sociallocker]


Category: General
Tags: Estonia, Real beneficiary
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John Doe

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