When 2Shakes finds the beneficial owners for Identity verification it will show you when a company is owned by a possible trust. If the possible trust owns more than 25% of the company’s shares then the Trust is above the Beneficial Owner threshold.
In such cases you will need to record the additional information for Trusts (2Shakes has the Trusts tab for this), and verify the identity of the natural persons who are the Beneficial Owners of the Trust itself. This is the same process described above.
The difference is that being owned by a Trust does not in itself require Enhance Customer Due Diligence to be performed on the company or the Trust.
There may be other factors that require EDD in any situation, and your Programme may require you to still do EDD, so always check!
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