Complying with all transparency terms set forth herein is our condition for entering into a business relationship with our (Sonnleitner Ludwig, „SL“) customer and maintaining it. These transparency terms are a part of our agreement during the entire business relationship. SL is entitled to amend these terms according to changes in applicable laws. Failure to comply with these terms entitles SL to reject the business relationship and/or terminate it with immediate effect.
SL is obliged to adhere to the regulations of the „4th Anti-Money Laundry“ directive. Said directive has been put into Austrian law in the Commercial Code. Therefore, the following must be executed / complied with / documented:
IDENTIFYING THE BENEFICIAL OWNER: beneficial owner means any natural person(s) who ultimately owns or controls the customer and/or the natural person(s) on whose behalf a transaction or activity is being conducted and includes at least. The following persons are beneficial owners:
For corporate entities: the natural person(s) who ultimately owns or controls a legal entity through direct or indirect ownership of a sufficient percentage of the shares or voting rights or ownership interest in that entity, including through bearer shareholdings, or through control via other means, other than a company listed on a regulated market that is subject to disclosure requirements consistent with Union law or subject to equivalent interna-tional standards which ensure adequate transparency of ownership information. A shareholding of 25 % plus one share or an ownership interest of more than 25 % in the customer held by a natural person shall be an indication of direct ownership. A shareholding of 25 % plus one share or an ownership interest of more than 25 % in the customer held by a corporate entity, which is under the control of a natural person(s), or by multiple corporate entities, which are under the control of the same natural person(s), shall be an indication of indirect ownership. SL is obliged to keep records of information and/or documents received.
IDENTIFYING ALL INDIVIDUALS INVOLVED IN THE BUSINESS RELATION:
The customer acknowledges, that certain transactions and/or actions require further documents and/or information (for example (police records).
Information on the business operation:
1. Business Plan
2. Informationen and documents regarding the source of funds, in particular bank statements, tax declarations, tax assessments, bank letters
The aforementioned documents are preliminary informations in order to prepare the business relation. Upon knowing all details regarding the customer and /or the business operation, SL will request additional documents and or information. The customer herewith acknowledges, that downpayments are not refundable, if SL is obliged to terminate the business relation, respectively to abstain from entering into one.
OBLIGATIONS OF THE CUSTOMER: The customer is obliged to provide any and all requested documents and/or information in a transparent and truthful way as well as to inform SL immediately, if important changes in the customer’s structure and/or benficial ownership structure occur. The customer agrees to SL handling the data provided to the extent required by law. For more information about SL’s obligations, please refer §§ 365m ff. GewO and WieReG.
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