Certificate of beneficial ownership
The deed of beneficial ownership is a notarial document that all companies and numerous legal entities must have. As Notaries in Barcelona specialised in commercial services, we want to explain the importance of the company's deed of beneficial ownership, what it is and its functionality, as well as provide all the information on how to proceed with this procedure.
Currently, you can sign the deed of beneficial ownership in person at JLA Notarios - Notaria Barcelona or entirely online, following the approval of law 22/2023. Therefore, if you need to process the deed of beneficial ownership either in person or digitally, do not hesitate to contact us.
What is the certificate of beneficial ownership of a company?
The certificate of beneficial ownership is a notarial document where the natural persons who control the company are declared. These persons who control the company are the beneficial owners, and the certificate of beneficial ownership seeks to declare who the beneficial owners of the company are.
The certificate is governed by Law 10/2020, of 28 April, on the Prevention of Money Laundering and Terrorist Financing and is supplemented by Royal Decree 304/2014, of 5 May. Therefore, the certificate of beneficial ownership is a document that helps to prevent and combat money laundering.
Who are the beneficial owners?
This law establishes rules to determine who the beneficial owners of the company are, who may be so by control, possession or administration.
- Beneficial owner by control: refers to those natural persons owning 25% or more of the capital of a company or of the voting rights
- Beneficial owner by possession: natural persons who hold 25% or more of the share capital or voting rights.
- Beneficial owner by administration: if there are no beneficial owners by control or possession, the management body of the company shall be declared the beneficial owner.
- In trusts, such as the Anglo-Saxon trust: the settlor; the trustee; the protector, if any; the beneficiary.
What is the purpose of the certificate of beneficial ownership?
The real ownership certificate is a mandatory document for commercial companies and other legal entities. Thus, it is a document that must be presented to the banks where the companies hold accounts, and the banks must block the accounts if the real ownership is not proven. Additionally, it is a mandatory document to be presented at the notary so that the company can sign any notarial document.
When is the certificate of beneficial ownership necessary?
The beneficial ownership statement is mandatory for companies. Therefore, beneficial ownership must be granted at the time of the incorporation of a company. A beneficial ownership statement must also be granted whenever there are changes in the capital of a company that result in shareholders ceasing to hold 25% or more of the capital or when shareholders acquire more than 25% of the capital.
Companies listed on a regulated market and subject to information requirements in accordance with Union Law or equivalent international standards that ensure adequate transparency of ownership information are exempted.
How to obtain the certificate of beneficial ownership?
The granting of beneficial ownership is done by signing a beneficial ownership deed at a notary. This deed must be signed by the company administrator. It is advisable to grant the beneficial ownership deed together with the company incorporation deed, but if necessary, the beneficial ownership deed can be signed at any later time, either by physical or digital signature.
The role of the Notary in the Certificate of beneficial ownership
The Notary is a legal professional and a public official who ensures compliance with the law in the documents they authorise. In the case of granting the real ownership certificates, the Notary will certify the real ownership in the document, after identifying the company and the administrators. Thus, with the real ownership certificates, the Notary helps companies and corporations comply with anti-money laundering legislation, creating a safer legal environment.
Documents of the real ownership certificate: what is needed?
The documentation to be provided at the notary is as follows:
- Identification document of the administrator or administrators who will sign the beneficial ownership certificate.
- Personal data of the beneficial owners: first name, last name, identification document, nationality, date of birth, residence, and percentage of participation in the company.
- Additionally, if the beneficial ownership certificate is signed after the incorporation of the company, documentation of the company and the administrators must be presented. However, these items can be replaced by commercial information obtained from the notary.
Who signs the beneficial ownership certificate?
To sign the certificate of ownership, only the administrator or representative of the company must attend, without the need for the actual owners of the company to be present. After signing the certificate of real ownership, an authentic copy of the signed document will be provided.
Price of the certificate of real ownership
The price of notarial acts is regulated by the Government and complies with the regulatory framework of the NOTARIAL FEE SCHEDULE (RD 1426/1989, of 17 November, regulating the Notaries' Fee Schedule).
If you wish to receive a detailed quote, we invite you to contact us directly through the method that is most convenient for you. You can do so via the contact form on the main page of this website, through the contact section found in the footer of the website, using the direct WhatsApp access at the bottom right of this page, by sending an email to bcn@jlanotarios.com or by calling us on 93 159 17 62.
As a guideline, we can inform you that, according to current regulations, the usual price for the formalisation before a Notary of a beneficial ownership certificate is around €75, including VAT. These prices are calculated for a limited company where the certificate is signed by a single administrator in the most common cases.
Frequently Asked Questions about the Real Ownership Act
No, the certificate of beneficial ownership cannot be registered in the Mercantile Registry
The identification of the beneficial owner is generally mandatory for commercial companies, although Law 10/2020 on the prevention of money laundering establishes certain exceptions. Specifically, it will not be necessary for: public law entities of member states of the European Union, companies or legal persons controlled or participated in by public law entities of member states of the European Union, financial entities domiciled in the European Union, and listed companies whose securities are admitted to trading on a regulated market of the European Union.
In the case of foundations, the beneficial owners will be those natural persons who hold at least 25% of the voting rights of the board of trustees. If none holds this percentage, all members of the board of trustees will be considered beneficial owners.
As for associations, the beneficial owners will be those who hold at least 25% of the voting rights of the representative body, and if none exists, the members of its Board or representative body will be considered beneficial owners.
Processing a certificate of ownership of a company with JLA Notarios, in Barcelona or online
Our Notary Office in Barcelona has a team of highly qualified and experienced Notaries to draft the deed of ownership of your company. We are experts in the applicable regulations and can offer you personalised advice tailored to your specific needs.
As an online Notary Office, we manage many notarial services electronically to provide the best possible service. Therefore, you can sign your deed of beneficial ownership with JLA Notarios at our notary office on Avenida Diagonal in Barcelona or completely digitally.
Get in touch with us for an initial consultation. Book your first advisory session at JLA Notarios now. We will be happy to help you. You can contact us via WhatsApp, by phone at 931591762 or by email at bcn@jlanotarios.com.
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Wills and inheritance
Making a will, making a declaration of heirs or awarding inheritance are very important moments in people’s lives.
At JLA Notarios we offer inheritance law services, both to arrange your estate and to divide up inheritance, guaranteeing the best advice for your particular needs while studying the tax implications of each case. We never forget the human factor. We even offer a notary service at home if necessary.
Contracts and property law
Over the course of our lives, we carry out important actions, such as buying a home, declaring a new-build, lifetime gifting to our children or ending partnerships, among many others.
At JLA Notarios we are experts in property and contract law and buying and selling property. We guide our clients, analysing each particular issue and always considering the tax burden of each transaction.
In addition, some of our notarial services can be performed online, so we can assist you from anywhere in Spain. Contact us to declare a new-build or a commonhold ownership structure online.
Mortgage
Taking out a mortgage is one of the biggest moments for anyone. Just think of the fees and interest you may have to pay for much of your life. So it is essential to have a trusted notary to help you understand what you are signing, explaining the tricky legal terms and their future consequences in simple words, to provide transparency and protect our clients.
At JLA Notarios we are aware of the importance of giving complete and understandable information to people about to sign a mortgage, novation or subrogation. We also advise and guide you on your future mortgage cancellation.
Loan agreements and credit facilities
Individuals and companies often need money to fulfil their dreams or projects. This can be obtained by taking out a loan or credit facility with your bank. When you sign, it is essential to understand the details properly to avoid future surprises.
JLA Notarios can be your trusted notary office, giving you accurate advice on loan contracts, providing a very agile and specialised service for processing loan contracts.
Bear in mind that from 9 November 2023, you will be able to sign your loan contracts from anywhere in Spain electronically by videoconference with JLA Notarios, saving you time and money. Do not hesitate to contact us to find out more about the notary office’s services in order to sign a loan contract online or sign a credit facility online.
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Without entrepreneurship there is no future, so it is of vital importance to support our businesspeople and entrepreneurs.
At JLA Notaries we are familiar with companies’ life cycle, which enables us to provide legal assistance for companies in their different stages, whether incorporation, modifications of their articles of association, changes of director, share sales and purchases, capital increases and reductions, dissolution and closure, and everything related to commercial matters.
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There are moments in life when a person needs to delegate. The law provides a tool for this: powers of attorney. Though a power of attorney, one person allows another person to act on their behalf.
At JLA Notarios we make sure that you understand the significance and risks of delegating or revoking powers of attorney, from a special power of attorney or power of attorney for lawsuits, to general powers of attorney or preventive powers of attorney for cases of incapacity.
We provide an agile service to sign powers of attorney. You can take your copy away immediately, saving you unnecessary trips, and from 9 November 2023 our clients will be able to sign all powers of attorney that are not general or preventive by videoconference through our digital notary office.
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A prosperous society is based on the family and its protection. Family Law provides you with the tools to protect your family and its members, so its foundations are solid and its purposes can be achieved.
At JLA Notarios we provide legal advice on marriage or civil partnerships; property aspects of the family through marriage contracts or civil partnership contracts; the moments when the family relationship is ended, in cases such as divorce or separation; and protection of vulnerable people, such as minors or people with modified capacity, through deeds of appointment of guardians or executors or creation of protected assets. We do all of this in a way that makes everyone involved feel equally supported and secure.
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It is common knowledge that notaries attest. That important and simple action can guarantee things of vital importance, such as ensuring that the signature on a document is authentic or certifying that a copy of a document matches the original.
At JLA Notarios we will help you to certify a document or notarise a signature in accordance with the law and tailored to your specific needs.
In addition, these notarial procedures can be carried out conveniently through electronic means from 9 November 2023.
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How many times have you wanted to leave a record of an event, of a statement, of the condition in which an object is found, or notify someone of any matter. To provide a solution to these issues, the Law provides us with notarial records.
At JLA Notarios we adapt to you, reflecting in the record what you require and carrying out the notifications and requests that you demand.
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Behind every nationality oath there is a story of overcoming, sacrifice and waiting.
At JLA Notarios we understand what this moment means and offer an empathetic, agile and quick service, advising beyond the oath itself, anticipating the future requirements that the new Spanish citizen will need.
We are your reference Notary to carry out the nationality oath before a Notary in Barcelona.
Apostille of the hague convention
Globalisation enables the free movement of people and documents of all kinds. How can you guarantee that a document has been officially issued? With an apostille of the Hague Convention.
JLA Notarios can obtain an apostille for all documents executed before us so they are valid and recognised abroad. We do this transparently and save you all the bureaucratic procedures involved.
Tax and registry procedures
Tax bureaucracy can cause a lot of headaches.
So JLA Notarios offers its clients the possibility of assessing and paying the many different taxes by the executing deeds and carrying out other procedures before the notary. We can also file them with the Land or Companies Registry so you do not have to concern yourself with it and can spend your time on the things that matter. We support you from start to finish.
