Beneficial Owner Declaration Form for New Zealand

Beneficial Owner Declaration Form Template for New Zealand

A comprehensive declaration form designed to comply with New Zealand's Anti-Money Laundering and Countering Financing of Terrorism Act 2009 and related regulations. The document captures detailed information about the ultimate beneficial owners of legal entities, including their personal details, extent of ownership or control, and source of wealth. It includes mandatory declarations and is supported by verification requirements in accordance with New Zealand law. The form serves as a key component of customer due diligence processes and helps reporting entities meet their regulatory obligations under New Zealand's AML/CFT regime.

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What is a Beneficial Owner Declaration Form?

The Beneficial Owner Declaration Form is a critical compliance document used in New Zealand to identify and verify the ultimate beneficial owners of legal entities. It is required under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 and must be completed when establishing business relationships with reporting entities or when there are changes in beneficial ownership. The form captures essential information about individuals who ultimately own or control an entity, including those with ownership stakes of 25% or more or who exercise effective control through other means. This declaration helps reporting entities conduct proper customer due diligence and meets regulatory requirements for transparency in business ownership structures. The document is particularly important in the context of New Zealand's commitment to preventing financial crime and maintaining the integrity of its financial system.

What sections should be included in a Beneficial Owner Declaration Form?

1. Declaration Details: Date, reference numbers, and details of who is completing the form

2. Entity Information: Legal name, registration number, type of entity, registered address, and business address of the entity for which beneficial ownership is being declared

3. Beneficial Ownership Definition: Clear explanation of what constitutes a beneficial owner under NZ law (25% ownership threshold and/or effective control)

4. Beneficial Owner Details: Full details of each beneficial owner including full name, date of birth, nationality, residential address, and nature/extent of ownership or control

5. Control Structure: Description of how beneficial ownership or control is exercised through the entity structure

6. Source of Wealth/Funds: Declaration of how the beneficial owners acquired their ownership interests

7. Verification Documents: List of required documents that must be attached to verify beneficial ownership

8. Declarations and Undertakings: Formal declarations about the accuracy of information and undertaking to update if changes occur

9. Signature Section: Space for signature, name, position, and date of signing by authorized person

What sections are optional to include in a Beneficial Owner Declaration Form?

1. Nominee Directors/Shareholders: Section for declaring any nominee arrangements, required if nominees are part of the structure

2. Trust Structure Details: Additional section required when the entity involves a trust structure

3. Complex Ownership Structure: Additional section for entities with multiple layers of ownership or complex corporate structures

4. Foreign Ownership Details: Special section required when beneficial owners are foreign persons or entities

5. PEP Declaration: Section declaring whether any beneficial owners are Politically Exposed Persons

What schedules should be included in a Beneficial Owner Declaration Form?

1. Schedule 1 - Ownership Structure Chart: Visual representation of the ownership and control structure

2. Schedule 2 - Additional Beneficial Owners: Continuation sheet for entities with multiple beneficial owners

3. Schedule 3 - Document Checklist: Checklist of required supporting documents for verification

4. Appendix A - Guidance Notes: Detailed guidance on how to complete the form and definitions of key terms

5. Appendix B - Privacy Statement: Information about how the collected personal data will be used and protected

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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Free to use

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What is a Beneficial Owner Declaration Form?

What sections should be included in a Beneficial Owner Declaration Form?

What sections are optional to include in a Beneficial Owner Declaration Form?

What schedules should be included in a Beneficial Owner Declaration Form?

Authors

Alex Denne

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