Beneficial Ownership Guide for United Kingdom Contents

d) Definition of “beneficial owner(s)” of legal arrangements (This includes BO definition of trusts and other similar legal arrangements, if available.) Regulation 6 of the MLR 2017 provides that: (1) In these Regulations, “beneficial owner”, in relation to a trust, means each of the following— (a) the settlor; (b) the trustees; (c) the beneficiaries; (d) where the individuals (or some of the indi. [...] To register as an LLP or an LP, the names of each of the members of the partnership must be provided—in the case of an LP, this includes both the names of each general partner, as well as the names and amount of capital contributed by each limited partner; and in the case of LLPs, addresses must also be provided. [...] In practice, trusts are usually formed in UK by a written document (“the trust instrument”), which is usually a deed, setting out the terms and conditions of the trust, the identity of the trustees, and the identity of the beneficiaries. [...] The basic ownership information for a trust is obtained from the trust deed and the identity of the trustees, who are the legal owners of the assets held in trust. [...] 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.