{"id":38327,"date":"2018-05-15T00:00:00","date_gmt":"2018-05-15T00:00:00","guid":{"rendered":"https:\/\/augustaabogados.com\/corporate-flash-obligation-to-identify-the-real-owner-in-the-annual-accounts-documentation\/"},"modified":"2024-02-06T11:29:21","modified_gmt":"2024-02-06T11:29:21","slug":"corporate-flash-obligation-to-identify-the-real-owner-in-the-annual-accounts-documentation","status":"publish","type":"post","link":"https:\/\/augustaabogados.com\/en\/corporate-flash-obligation-to-identify-the-real-owner-in-the-annual-accounts-documentation\/","title":{"rendered":"CORPORATE FLASH – Obligation to identify the real owner in the annual accounts\u0092 documentation"},"content":{"rendered":"

OBLIGATION TO IDENTIFY THE REAL OWNER: THE NEW REQUIREMENT IN THE ANNUAL ACCOUNTS\u0092 DOCUMENTATION<\/strong><\/h3>\n

Due to the approval and effectiveness of the Ministerial Order JUS\/319\/2018, of 21st<\/sup> March (\u0093Ministerial Order<\/strong>\u0094), the new models for the preparation of the annual accounts for those entities obliged to their submission and publication have been approved. According to such Ministerial Order, specific modifications in the documentation for the mentioned annual accounts\u0092 submission have been introduced, being the most important one the obligation to include a document which identifies the real owner\/s of each entity<\/strong>. The latter document will be perceptive for all those annual accounts that must be submitted in the Commercial Registry, and which belong to all those financial years closed after the 1st<\/sup> of January 2017. <\/strong><\/p>\n

The other two (2) modifications introduced by the Ministerial Order in the annual accounts\u0092 submission forms belonging to the financial year of 2017 are, (i) a change in the instructions for the calculation of the entities which may use the \u0093abridged\u0094 model, and (ii) the entities\u0092 ability, in the submission of the \u0093normal\u0094 form, of incorporating a report regarding non-financial information separated from the management report.<\/p>\n

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As a reminder\u0085<\/span><\/em><\/p>\n

The term \u0093real owner\u0094 refers to the\/those natural person\/s who ultimately possess\/es or control, directly or indirectly, a percentage higher than a 25% of the capital or of the rights to vote within an entity, or who own the control, directly or indirectly, of the company\u0092s management. <\/span><\/em><\/p>\n

In the event there is no possible identification of the \u0093real owner\u0094, the members of the companies\u0092 administration body will be regarded as \u0093real owners assimilated natural persons\u0094.<\/span><\/em><\/p>\n

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The most relevant aspects which need to be considered for the submission of such new document are the following:<\/p>\n