Why we may ask for ownership information
Beneficial Ownership Certification
Why do I need to provide this information?
International legal standards require minimum levels of transparency concerning the beneficial owners of companies, trusts, and other legal arrangements for tax purposes and to adhere to anti-money laundering regulations:
In accordance with these international standards, our provider is required to obtain, verify, and record information about key individuals who own and/or control a legal entity (i.e. beneficial owners and/or control persons, respectively).
Who needs to complete the Company Ownership form?
If your company is a privately-owned legal entity, you will need to complete the Company Ownership form (which will require you to list a control person and any beneficial owners). Legal entities include but are not limited to corporations, limited liability companies, and general partnerships. They do not include sole proprietorships or unincorporated associations.
If your company is publicly traded and you wish to distribute Mastercard EUR and/or GBP, you will be required to list a control person to adhere to EU rules. However, you will not be required to fill out the separate Company Ownership form.
What do you do with this information?
The personal information provided is used to verify your company in accordance with anti-money laundering laws. We understand that asking for this information may feel intrusive, but it is legally required. The information will be kept confidential and accessed only by Tremendous' and our provider's Risk Assessment team.