Our payment service activities are regulated by Act on Detecting and Preventing Money Laundering and Terrorist Financing. By law, we need to know who actually benefits from payments made through our service. We cannot transfer payments to a company whose actual beneficiaries are unknown to us. The actual beneficiary is always a natural person.
Add the actual beneficiaries to the Merchant panel when filling out the requested company information. We need the following information about the actual beneficiaries: name, social security number and address. In addition, it must be reported if the actual beneficiary is a politically influential person. Politically influential person means a natural person who works or has worked in a public position in the last 12 months.
Your company type determines who your actual beneficiaries are:
|Private trader||The entrepreneur is the Beneficiary|
All persons who directly or indirectly own more than 25% of the company's shares or otherwise an equivalent share of the company or use directly or indirectly more than 25% of the company's voting rights are beneficial owners. If the company is owned by another company, the de facto representatives are the people who own more than 25% of the owning company or exercise voting rights.
|Public limited company||It is not necessary to submit the information of the actual beneficiaries|
|Association||The actual beneficiaries of the association are the board members|
Body governed by public law
|Members of the board of the municipality, CEO or other person in a similar position (e.g. mayor)|
|Religious community||The board members entered in the register are actual beneficiaries|
|Foundation||Members of the board and supervisory board registered in the foundation register are actual beneficiaries.|
|The actual beneficiaries are the board members of the housing company.|
The actual beneficiaries inquiry is based on the requirement of the Act on Preventing Money Laundering and Terrorist Financing, which Paytrail Oyj is obliged to comply with.
More information on the topic can be found on the Finnish Patent and Registration Office's website.
Read also: New Paytrail: What does "Is there a politically exposed person as defined in the Money Laundering Act involved in the company's operations?" mean?