The presence of the beneficiary in the bank's questionnaire is what it means. Some general thoughts

Who is the beneficiary and beneficiary?

With the development of the market, new participants and sides of the business began to appear. In order to profit from various sources, to have access to company affairs, but not to advertise their data, true business owners prefer to hide and work without drawing attention to their person. They got their name - beneficiaries, which in French means “profit”.

In business now, it is often not the first persons of companies or nominal owners who often benefit directly. They only create an appearance. All financial flows and transactions are regulated by persons who do not advertise themselves, but work at a distance. There have always been beneficiaries, but they drew special attention to themselves with the development of offshore companies. In 2012, Russia started talking about the de-offorization of domestic business. Legislation was adopted that recommended identifying the real business owners. Now all banks that work with settlement accounts of legal entities are required to identify beneficiaries in order to disclose the legality of the business and exclude the likelihood of money laundering and terrorist financing, according to 115-FZ.

Who is the beneficiary?

If you explain in simple words, then this is the person who manages the company, owns its property, makes a profit and controls the activities. This is a real master, even if formally another person is. 115FZ states that the beneficiary is the one who has a share of 25% or more. This allows all control activities to be carried out.

For example, firm A has a board of directors, a CEO, and several shareholders. For all, they are the managers and business owners. This is the visible side. On the other hand, they are just dolls doing their job. The true owner is on the sidelines and runs this theater. He is not listed anywhere in the company's documents, but he owns everything. The chain of links to the true beneficiary can be long. Each link is a formal founder.

Federal law obliges banks and other financial institutions that conduct monetary transactions to identify beneficiaries and record information about them in their databases. This is due to the need to improve business transparency and reduce the number of suspicious transactions. Beneficiaries are established not only when working with legal entities, but also with individuals.

Thus, the beneficiary is a person who is the real owner of the business. His identity is often hidden and is known only to the company's management. Its confidentiality is maintained through a formal company. You can find the beneficiary through the accounts that the company uses in the bank, transferring profits. It could even be a seller of L / C services.

How do you become a beneficiary?

Such questions are best addressed in legal aspect... The state system prevents the development of illegal business, and also strengthens control over financial flows that go past the state treasury. For this purpose, Law No. 115 was created, the purpose of which is to create a clear picture of Russian assets and their owners. Often the owners of assets are considered to be one person, but in fact the property is owned by a completely different person who hides his wealth. 115FZ defined the criteria for beneficiaries:

• The share in the company is over 25%. This share gives the right to make control decisions. This distinguishes the beneficiary from ordinary shareholders who own less than 25% for the purpose of generating income.
• Availability business activity a person interested in the financial profit of companies. This can be insurance, deals with shares, participation in meetings, etc.

By meeting these criteria, the owner of the business / firm becomes the beneficiary. Some do not hide this, others prefer to remain secret. Companies and affiliates are required to maintain lists of beneficiaries. If government agencies want to identify the true owner of the company, they have no problems. The Civil Code of the Russian Federation imposes liability for distorting information about beneficial entities in the form of fines up to 500 thousand rubles. Verifiers can easily figure out whether the declared leader is the beneficiary or whether the management is in other hands. The chain of beneficiaries is of particular interest to the tax authorities and Rosfinmonitoring.

Who is the Beneficiary?

Many people confuse the beneficiary and the beneficiary. In fact, these are identical concepts, but with some differences. They both have profits from the activities of the company, but the beneficiary has a quarter or more of the ownership share, and the beneficiary has less or no share of this share.

The beneficiary and the beneficiary may be one person or completely different. In the first case, the beneficiary has income and controls the work of the company, and in the second, he only receives income (or part of it) for fulfilling his duties.

Beneficiary in the bank.

This is the person who benefits from banking transactions. For example, when opening a deposit, the client himself is the beneficiary. He brought money in order to benefit from their placement on the deposit. However, the contribution can also be made by a third party. For example, a father puts money in the name of his son. The son in this case is the beneficiary, since he will receive interest on both deposits and the deposit itself.

If you take a legal entity, then the beneficiary is the recipient in the payment orders. For example, the company transfers dividends to the name of Mr. Ivanov I.I. Mr. Ivanov is the beneficiary. But this is not a fact that he will be the beneficiary, because he can transfer the received money further under a trust agreement. Whoever receives this income will be the beneficiary.

What is the Beneficiary Chain?

These are several related business links, through which the income is up to the real owner. The chain can consist of one link, or maybe several. The longer the chain, the more dubious the operations and the income received. The chain is used to obfuscate traces for government agencies, facilitate taxation, and launder illegal income. Through such chains, money is easily transferred to offshores and other assets.

The law requires the disclosure of information about the ultimate beneficiaries. You can find information on the website of the Federal Tax Service Inspectorate, according to an extract from the Unified State Register of Legal Entities, in the minutes of meetings. The ultimate beneficiary will be a specific person.

Example of a chain: Ivanov owns 60% of the shares of the Tsvetochek company, which in turn owns 80% of the shares of the Listik company. Ivanov leads a modest life, drives a middle class car. The general director of Listik Sidorov owns an expensive car, a Prada suit and a 24% stake in his company. At first glance, it is Sidorov who will look like the beneficiary. But counting shows that Ivanov, through his company "Flower" controls "Listik" by almost half (60% * 80% \u003d 48%). It is he who will be the beneficiary, not the pretentious Sidorov.

In the economic, financial and insurance spheres, you can often come across the concept of "beneficiary" - who is this? We tell in accessible language what key characteristics distinguish beneficiaries, how they differ from beneficiaries, and who can act in this capacity.

The meaning of the term "beneficiary"

This term is used very widely in various fields - economics, finance, banking and insurance. Each individual situation insignificantly changes its meaning. In Russian, the word “beneficiary” speaks for itself: the one who gains the benefit. However, to be clear, let's take a closer look at the concept.

In a broad sense, the beneficiary is the party to the transaction (process, agreement) that receives any benefits or income. In a narrower sense, it is the recipient of funds. Synonyms for this concept are those who came from french “Beneficiary” or “beneficiary” (we will tell about the difference between them later) or a consonant “beneficiary”.

Speaking simple language, nowadays it is customary to call a person or an organization that, as a result of any circumstances (conclusion of a transaction, leasing property) cash (less often - other benefits).

In a broad sense, the beneficiary is the party to the transaction that receives any benefits or income.

Who can act as beneficiaries

The prevalence of use of the term in different fields of activity explains the wide range of the number of those who can be "benefitted" in a given situation. Who is the beneficiary? This capacity can be individuals and legal entities that receive income from transactions, inheritance, property lease, payments under insurance contracts.

The most common acquisition situations are:

1. Delivery of property, including securities, in trust, rent or lease. For example, the owner of shares transfers them to a broker for use in order to receive the maximum dividends in the end. Or owner shop equipment leases it to another company for a fee.
2. Receiving payments under an insurance contract.
3. Receiving remuneration from property held in trust.
4. For a bank, a beneficiary is any person or organization that receives payments to their account as a result of a transaction.

Russian practice

Beneficiary term russian legislation does not occur very often. For example, in the Civil Code, it concerns only the insurance sector (Article 956), while the law does not contain a specific definition of the term. A more detailed explanation of the concept can be found in the law "On the organization of insurance business in Russian Federation».

In this way, there is currently no separate definition of this term in Russian legislative acts, and it is used mainly in the field of insurance - this is the name of the party receiving the insurance payment.

Related concepts: what does “beneficiary” mean

"Beneficiary" and "Beneficiary" - what's the difference? In practice, these concepts are most often used as synonyms, although in some cases there may be differences between them. Also it is important to know that the same person can simultaneously be both the beneficiary and the beneficiary, and sometimes - only the last.

In both cases, individuals and legal entities act in this capacity. Their main similarity lies in the fact that they receive remuneration from the provision of their property for use under a lease, trust, or other agreement.

Among the differences are:

1. The private property of the beneficiary is at least a quarter of all property, which gives him the right to manage a legal entity, take strategic decisions and appoint to leadership positions.
2. In most transactions, the beneficiary is obvious, while the identification of the beneficiary is not always easy.

The ultimate beneficiary or beneficiary of private companies is always individual.

Beneficiaries for legal entities

In fact this concept sometimes used in relation to the activities of companies with limited liability... Beneficiary legal entity - this is an organization or a citizen in whose favor the transactions are concluded, financial resources and other remuneration are paid. That is, in most cases, this is the name of the party that ultimately receives financial reward for the work of the company.

For example, the obvious beneficiaries would be the owners of leased property and capital goods. Let's say a company leases equipment. That is, one party will use it, and the real owner will receive remuneration for this.

Also, the beneficial owner of an LLC is its actual owner, who receives the main income from its activities. That is, it is not cEO, who manages the company, and the founder, who has the decisive right to vote in solving business issues and receives dividends.

Privacy of the final beneficiary

It is important to know that the real beneficiary of the legal entity (also called the "ultimate beneficiary") is not always indicated in constituent documents ... This happens for several reasons, most of which are related to violation of laws or financial fraud.

Among them are tax evasion, violation of prohibitions on engaging in any activity for those convicted of economic crimes, unwillingness to fall into the field of vision of regulatory authorities. This is not a complete list.

Currently in the field of secondary and big business the situation is common when the company is owned not by an individual, but by another organization. The result can be a very confusing scheme, within which it is difficult to calculate the real beneficiaries. It is important to remember that the ultimate beneficiary or beneficiary of private companies is always an individual.

Summary

The beneficiary or beneficiary is called individuals and legal entities who receive remuneration in the course of the conclusion of transactions. For legal entities, this is the role of founders, as well as owners of real estate and means of production.

Good evening Julia. the beneficiary is One of the participants in the insurance relationship acting on the side of the policyholder along with the insured person is beneficiary

The beneficiary is one of the key figures in insurance.

It is he who receives the money from the insurance company.

That is why it is so important to take care of its correct choice and timely appointment.

Who appoints the beneficiary?

In whose favor to sign the agreement with the insurer is usually the policyholder's decision.

He concludes a contract and pays for insurance.

It is possible to appoint a beneficiary in personal insurance only with the written consent of the insured.

If there is no consent, the money will be paid to the insured or his heirs.

For example, if a wife wants to insure the life and health of her husband and designate herself as a beneficiary in the event of his death, the husband must approve her decision in writing.

Otherwise, the contract will not be concluded.

The beneficiary in property insurance is obliged to provide a document confirming his interest in preserving the property, the owner or custodian of which he is.

Without such a document, the designated person will not be able to receive insurance compensation.

For example, a relative of the owner of a car who drives it under a power of attorney will not be able to receive insurance compensation if he insures the car in his favor.

The owner of the car will not be able to receive the payment under this agreement, since the agreement was concluded in favor of the policyholder.

Upon the occurrence of an insured event, the specified insurance contract will be invalidated.

In some cases, the beneficiary is legally appointed and cannot be changed.

An invariable beneficiary by law is:

• a person who has suffered harm, an injured person (with civil liability insurance). For example, the owner of a car crashed in a traffic accident due to the fault of the insured, a hit pedestrian, a neighbor on the ground floor, whose apartment was flooded due to a pipe break in the insured's apartment;
• a person who has suffered losses as a result of the insured's failure to fulfill contractual obligations (in case of liability insurance under a contract). For example, the customer of a consignment of goods, if the insured is engaged in production or delivery;
• the policyholder himself (in case of business risk insurance), if he organized own business and insured him for a certain amount;
• owner or custodian of collateral (in case of collateral insurance) The owner of a mortgage apartment or bank, in whose safe are, for example, securities accepted for storage as collateral.

That is, someone who is not interested in the occurrence of an insured event.

Important! Even if the contract specifies another beneficiary, this will not be taken into account.
The beneficiary may not be indicated in the contract

Then the insured person (with personal insurance) or the owner (with property insurance) has his rights under the law.

In the event of the death of the insured (or the owner of the property), the next of kin will receive the payment from the insurance company.

Not as beneficiaries, but as legal heirs - after the entry into inheritance rights. If there is a will not in favor of relatives, the heirs appointed by the testator will receive the money.

Good afternoon. I was interested in your answer "Good evening Julia. The beneficiary is one of the participants in insurance relations, speaking at the station ..." to the question http: // www .. Can I discuss this answer with you?

The issues of protecting property rights to property were significant for humanity in any historical epoch and under the most diverse socio-political formations. What is most significant in these matters?

Some general provisions

In the definition and regulation of property legal relations, there are a number of fundamental concepts on which the entire current legislative framework and legal system is based. One of the most significant terms is the concept of beneficiary. This is a legal or bearer of ownership rights to this or that property and, accordingly, receives income from such ownership. Or making a profit from some kind of commercial operation. In legislative and legal practice, there are a number of nuances, one way or another associated with this term. Let's try to consider some of them in more detail.

Who are the beneficiaries?

Sometimes in domestic legal practice such international counterpart this term as "beneficiary" ("beneficiary"). In its meaning, it completely coincides with the concept of "beneficiary". This is nothing more than a synonym, historically dating back to Roman law. In Russian legal and economic practice, both terms are encountered equally often. Who are usually the beneficiaries? Most often, the beneficiary is a person who receives income in the form of his property transferred to trust or for use by other persons or organizations. In this case, the relationship with the beneficiary among the users of his property occurs on specially agreed terms.

Beneficiary-insured

This term is also widely used in insurance. In the insurance business, the beneficiary is an individual or legal entity who receives payments under the contract in accordance with the conditions specified in the insurance policy. This term is very common in inheritance law. Here, the beneficiary is a person who receives certain property or financial rights in accordance with a will or current inheritance law. In addition, it is also customary to refer to the beneficiaries to whom the banking structures provide various kinds of financial preferences.

Legislative regulation

The current legislation properly elaborates the rights and obligations that the beneficiary has, regardless of whether he is a legal entity or an individual. So, in particular, according to the current Civil Code of the Russian Federation, the beneficiary of a legal entity has the right to receive insurance payments in the cases stipulated in the contract on insurance of its property, if it has suffered damage as a result of the occurrence of an insured event. The legislative framework in the field and financial obligations has been worked out in sufficient detail, the rights and obligations of both parties to the insurance contract are spelled out in it in an exhaustive manner. In addition to the Civil Code, insurance relations are regulated by the Law of the Russian Federation of November 27, 1992 "On Organization in the Russian Federation".

Responsibilities and

Insurance of your tangible property and other type of property gives its owner the confidence to receive financial compensation in the agreed amount if the property is damaged as a result of the impact on it of natural factors or any aggressive criminal encroachments. But the insured beneficiary, in accordance with the procedure established by law, also bears a number of obligations to the insurer with whom he has entered into an appropriate contract. The first of them is the timely payment in full of the contributions specified in the contract, or as they are often called "insurance premiums".

Additional responsibilities of the beneficiary

In addition to the mandatory payment of insurance premiums, the beneficiary policyholder has a number of obligations to the insurer, as they say, of the "second order". But that doesn't make them less important. The execution of the contract upon the occurrence of an insured event without observing these obligations is not possible. First of all, these should include the provision to the insurer of the entire documentary base for the insurance object in full. Timely informing such about all the changes that have occurred and any relevant circumstances. And most importantly, the insurer must be informed of the occurrence of an insured event within the time frame stipulated in the insurance contract. Of course, the beneficiary is obliged to fulfill this paragraph in the situation if he intends to exercise his right to receive the financial compensation due to him as a result of the occurrence of an insured event.

What makes the insurer pay?

In the event of an insured event, the insurer is obliged to fulfill, in accordance with the terms of the contract concluded by him, all financial obligations assumed to the owner of the damaged property. These payments in certain cases can be more than significant. It is not uncommon for an insurer to resort to external financial loans on onerous terms to fulfill its insurance obligations. What makes him do it? The point here is that insurance is, as they say, "playing for a long time" and "running a long distance." And only those who are able to build a strategy for the development of their business in the long term can win here. An insurer that steadily fulfills its financial obligations gains a reputation. And therefore, customer base, which will definitely be blocked for certain period time, all expenses incurred by him to fulfill his financial obligations.

Some general thoughts

The history of the insurance business goes back several centuries. Appearing for the first time in Great Britain during the formation of industrial capitalism and the rapid development of world trade, this area has steadily expanded and improved to the present day. What is the attraction for all who are the beneficiaries of the conclusion of contracts on insurance of their tangible property and other assets? Indeed, according to the agreement being concluded, the beneficiaries have to assume quite significant financial obligations. The point here, perhaps, is that property owners need a sense of confidence in the material results achieved. They are driven by the desire for stability and confidence in the future. And the beneficiaries are ready to pay for it. It is this circumstance that makes them turn to insurers. No one else can sell them the necessary sense of confidence and stability. Both parties are equally interested in this deal. It should be noted that the successful development of the insurance business is possible only in a state with a steadily developing economy and a stable legal system.

Market relations are developing, new economic entities appear. And many of ordinary people do not understand what the word BENEFICIARY means. Let's try to figure it out. This concept has several definitions. And if you are planning to do exactly foreign trade, you definitely need to understand all the variety of new concepts.

Beneficiary

The beneficiary is allowed to be a legal entity and an individual. Their income is generated from specific transactions. They are also the beneficiaries of the transactions that are performed with their property when managed on a trust basis. Interested parties, as they are also called, can hold bills of exchange, bank letters of credit.

What is a Beneficiary? If carried out foreign trade activity, it is a company that acts as a seller. If a trust operation is conducted, this is the person who benefits from the trust management of his property.

There is another definition that explains who the beneficiary is. The beneficiary can be inherited if the one who was recorded in the insurance policy as the beneficiary died before the expiration of this contract. Translated from French, this word is translated as profit.

Beneficial owner

By russian laws the beneficial owner is the person who actually owns the entire company.

The beneficiary receives profit from the client's activities under an agency agreement or trust management.

The beneficial owner is a natural person. He is the owner of the company directly or through others. Can control all client activities.

These persons may not appear in the constituent documents, but they fully control the conduct of business. According to the law, the beneficial owner has a stake in the capital of the legal entity of twenty-five percent or more.

The ultimate beneficiary is an individual, owner of the beneficiary organization. It was during the opening of offshore companies that the hidden ultimate owners of profits appeared. Information about them is known only to the bank when opening an account and to the company's agent. The ultimate beneficiary can manage the bank account.

Read also: Current account - what is it

Beneficiary and Beneficiary

Is there anything similar and what is the difference between the beneficiary and the beneficiary? Both have income from client actions... Difference. The ultimate owner has a stake in the company, a quarter or more. And he can control and manage the activities of this company. The beneficiary cannot do this. He has no share of his own.

State control is exercised over the beneficiaries. There are certain conditions when a company is obliged to provide the necessary information about them. This is necessary in order to identify criminal acts and prevent them. Also, this information helps to prevent financial fraud.

Beneficiaries and information about them

We have already said what information about these persons may be required for. Recently, one more point has been added, no less important than the above - the prevention of terrorist operations and the fight against terrorists.

Banking structures may also require necessary information, and companies are required to provide them. And from banks this information goes to Rosfinmonitoring. Banks cannot refuse to do this, because otherwise they could be fined up to half a million rubles. This applies not only to banks, but to any financial institution.

Some companies, in order to hide the data of the real owner, open an account for a person who is endowed only with the right to sign. The beneficial owner in this case is under constant control. It turns out that it is easy to identify the beneficiary, and more difficult - the real owner.

The data of the real owners are requested by both financial and other state institutions... For example, when contracts for public procurement... In the document "Information about the chain of owners, including beneficiaries", record all the data of the beneficiaries.

Rights and obligations

Beneficiary rights are protected by law. But they also have some obligations. The beneficiary can protect his property with a special trust management agreement. If the contract is violated, the ultimate owner and the nominee performer are responsible.