The ultimate beneficial owner is any person who effectively controls or controls a legal person, a natural person - entrepreneur or an association of assets (collectively, as "entities" or "entity") and any natural person for the benefit of which these entities carry on their activity or business. An ultimate beneficial owner within the meaning of the legal definition is any natural person who manages the entity or the activity of the entity is performed for its benefit. The company is obliged to keep records of its ultimate beneficial owner necessary for its correct identification for third parties.
The information on the ultimate beneficial owner must be updated with each change and records of its identification must be kept for another 5 years after the end of the status of ultimate beneficial owner of a particular natural person. The purpose is for everyone to be able to identify who is the ultimate beneficial owner in a particular company, without relying solely on the data in the available registers.
The ultimate beneficial owner (hereinafter referred to as "UBO") is in the Slovak Republic defined in § 6a of Act no. 297/2008 Coll. on Protection against Money Laundering and Terrorist Financing and on Amendments to Certain Acts, as amended (hereinafter referred to as the “AML Act”). The AML Act defines UBO differently for a legal entity, a natural person entrepreneur and an association of property. UBO is thus any natural person who actually controls or controls a legal person, a natural person - entrepreneur or an association of property, and any natural person for whose benefit these entities carry out their activity or business.
In a legal entity, UBO is the natural person who:
In the case of an association of property, UBO is the natural person who:
If it is not possible to identify UBO person according to the above criteria, members of the top management will be considered as one. A member of the top management is considered to be a statutory body, a member of the statutory body, a procurator and a senior employee in the direct management of the statutory body. UBO is also a natural person who does not meet the above criteria, but together with another person acting in accordance with it or by a joint procedure meets at least some of the above criteria. Data in the range of name, surname, birth number and, if no date of birth, address of permanent residence or other residence, nationality and type and number of the UBO identity document have not been assigned to the registers. Data on the basis of which this natural person has the status of UBO in a legal entity are also mandatory. By law, liable persons must provide co-operation to the authorities if, according to a special law, the register does not contain data on UBO or in case of doubts about the veracity or completeness of the data entered in the register.
Law firm Hronček & Partners provides its clients with comprehensive legal services in the area of identification and registration of UBO in the commercial or other relevant register. In addition to the identification of UBO, we prepare for our clients a Protocol on the identification of the end user of benefits in accordance with the provisions of the AML Act on record keeping for these purposes. We also provide clients with instructions on how to keep records. Leave this legal obligation to us and you will avoid the lengthy process of identifying the UBO and the administration associated with it. By leaving your duty to the law firm, you will have the correct identification of the UBO and thus avoid the risk of a fine being imposed by the competent authorities. Contact us about preparing a non-binding price offer.
Hronček & Partners, law firm is also actively developing an initiative in the field of crowdfunding regulation. In the context of Regulation (EU) 2020/1503 of the European Parliament and of the Council of 7 October 2020 on European providers of collective finance services for business and amending Regulation (EU) 2017/1129 and Directive (EU) 2019/1937, available on the link), which will enter into force on 10.10.2021, laying down uniform requirements for the provision of mass financing services, for the organization of mass financing service providers, for the authorization and supervision of such providers, for the operation of mass financing platforms, as well as for transparency and marketing communication, our law firm is ready to provide you a complete legal service on obtaining a license to perform crowdfunding services.
Startup is nowadays a modern form of business that is very popular. However, the establishment of a company and the start-up of a business is a process that is demands and requires comprehensive knowledge, including in the field of law. In the case of startup projects, we provide a complete legal service, from the establishment of the company and throughout its existence. Our law firm cooperates with a number of companies operating in various areas of the market, which can provide you with potential business partners or the entry of investors into your project. If you decide to use our services, we will provide you with:
Within our law office, we provide a comprehensive legal service for operators of online stores (e-shops). The basis for your e-shop is the correct elaboration of the General Terms and Conditions (GTC), which we prepare exclusively for the client according to his requirements. Another necessity is the processing of the complaint procedure and the setting of contracts. In this area we will provide you with:
Close cooperation with the company Top privacy sro specializing in personal data protection is a guarantee of first-class legal services also with regard to the GDPR Regulation and related obligations.
As part of solving tax issues, our law firm has been cooperating closely for many years with erudite professionals in the field, through whom we can provide you with top-level tax advice, including the assessment and preparation of transfer documentation. Professional legal services in conjunction with professional tax advice confirm the complexity of our services. Open approach and collective work of several professionals in individual projects is a great advantage for the client.
In connection with transfer pricing and elaboration of transfer documentation we provide for you:
Another of the many areas in which we provide our legal services is the area of insurance law, within which we work closely with top experts and specialists in insurance from the portal www.poistenie.sk. A team of experts from our law firm, many years of rich experience and cooperation with a contracted portal is a guarantee of providing first-class legal services and professional advice in this field. Within insurance law, we offer a comprehensive service that includes communication with insurance companies, preparation of legal submissions, assessment of your claims, representation in court proceedings and much more. In the field of insurance law, we focus mainly on:
· any recovery and subsequent enforcement of claims contracts, both out of court and in court, including legal representation throughout the proceedings until the final conclusion of the dispute,
· professional legal assessment of your claims with respect to the contractual documentation and subsequent assessment of your claims against the insurance company, preparation of legal opinions to take into account your claims and recommending further claims, preparation of any submissions addressed to insurance companies, communication with insurance companies, legal assessment of your current insurance contracts,
· verification of the correctness of insurance companies in the settlement of claims, filing objections and other remedies against incorrect,
· provision of legal assistance and advice in the application of recourse claims by insurance companies.
During several years of operation in the field of insurance law, we were able to reverse many insurance claims that insurance companies settled and with legal assistance we ensured our clients success in asserting their claims. We have also been successful in litigation as well as in resolving disputes out of court.
legal advice on sports law, particularly football and ice hockey
Do you want to know more about our activities and projects? You can also find us here: