Beneficial Ownership Guide for Germany Contents

Both, the notaries public and the commercial register have the task of providing complementary legality and verification checks: • The notary public provides legal advice (e.g., on legal forms and the possibilities and limits of designing the legal documents for formation of the company) and drafts according to the founder’s demands the following documents: the articles of association, the applica. [...] The commercial registry checks that the preconditions for registration are met and conducts verification on the 2 Information on the formation of legal persons (corporation and partnerships) is publicly available on the websites of the Chambers of Industry and Clima Action (BMWK) and on the websites of the Chamber of Industry and Commerce at the Lander-level (See: www.existenzgruender.de/DE/Gruend. [...] The basic information on commercial trading companies that is recorded on the Commercial Register includes: name of company/legal person, proof of incorporation, legal form and status, address, and list of directors.3 For partnerships, information held on the Partnership Register includes the name and address of the partnership, list of partners, basic information on the nature of the partnership. [...] section 1(6) GwG), the trustees are also required to register the information on beneficial owners of trusts or similar legal arrangements on the Transparency Register.9 Beneficial ownership information obtained and recorded on the register includes the name, date of birth, place of residence and nationality, nature and extent of the beneficial interest.10 Pursuant to section 21 (1) and (2) of GwG. [...] A Nominee Director (also known as a “resident director”) is an individual or legal entity that routinely exercises the functions of the director in the company on behalf of and subject to the direct or indirect instructions of the nominator.