Article 58 Identification of beneficial owners for express trusts and similar legal arrangements

1. the settlors;

2. the trustees;

3. the protectors, if any;

4. the beneficiaries, unless Article 59 or 60 applies;

5. any other natural persons exercising ultimate control over the express trustmeans a trust intentionally set up by the settlor, inter vivos or on death, usually in a form of written document, to place assets under the control of a trustee for the benefit of a beneficiary or for a specified purpose; by means of direct or indirect ownership or by other means, including through a chain of control or ownership.

The beneficial ownersmeans any natural person who ultimately owns or controls a legal entity or an express trust or similar legal arrangement; of other legal arrangementsmeans an express trust or an arrangement which has a similar structure or function to an express trust, including fiducie and certain types of Treuhand and fideicomiso; similar to express trustsmeans a trust intentionally set up by the settlor, inter vivos or on death, usually in a form of written document, to place assets under the control of a trustee for the benefit of a beneficiary or for a specified purpose; shall be the natural persons holding equivalent or similar positions to those referred to in paragraph 1.

1. the natural persons listed in paragraph 1; and

2. the beneficial ownersmeans any natural person who ultimately owns or controls a legal entity or an express trust or similar legal arrangement; of the legal entities that occupy any of the positions listed in paragraph 1.

Member States shall notify to the Commission by 10 October 2027 a list of types of legal arrangementsmeans an express trust or an arrangement which has a similar structure or function to an express trust, including fiducie and certain types of Treuhand and fideicomiso; similar to express trustsmeans a trust intentionally set up by the settlor, inter vivos or on death, usually in a form of written document, to place assets under the control of a trustee for the benefit of a beneficiary or for a specified purpose; which are governed under their law.

1. the form and basic features of those legal arrangementsmeans an express trust or an arrangement which has a similar structure or function to an express trust, including fiducie and certain types of Treuhand and fideicomiso;;

2. the process through which those legal arrangementsmeans an express trust or an arrangement which has a similar structure or function to an express trust, including fiducie and certain types of Treuhand and fideicomiso; can be set up;

3. the process for accessing basic informationmeans:in relation to a legal entity:legal form and name of the legal entity;instrument of constitution, and the statutes if they are contained in a separate instrument;address of the registered or official office and, if different, the principal place of business, and the country of creation;a list of legal representatives;where applicable, a list of shareholders or members, including information on the number of shares held by each shareholder and the categories of those shares and the nature of the associated voting rights;where available, the registration number, the European Unique identifier, the tax identification number and the Legal Entity Identifier;in the case of foundations, the assets held by the foundation to pursue its purposes;in relation to a legal arrangement:the name or unique identifier of the legal arrangement;the trust deed or equivalent;the purposes of the legal arrangement, if any;the assets held in the legal arrangement or managed through it;the place of residence of the trustees of the express trust or persons holding equivalent positions in the similar legal arrangement, and, if different, the place from where the express trust or similar legal arrangement is administered; and beneficial ownership information on those legal arrangementsmeans an express trust or an arrangement which has a similar structure or function to an express trust, including fiducie and certain types of Treuhand and fideicomiso;;

4. the websites at which the central registers containing information on beneficial ownersmeans any natural person who ultimately owns or controls a legal entity or an express trust or similar legal arrangement; of those legal arrangementsmeans an express trust or an arrangement which has a similar structure or function to an express trust, including fiducie and certain types of Treuhand and fideicomiso; can be consulted and the contact details of the entities in charge of those registers.

The notification shall also be accompanied by a justification detailing the reasons why the Member State considers the notified legal arrangementsmeans an express trust or an arrangement which has a similar structure or function to an express trust, including fiducie and certain types of Treuhand and fideicomiso; to be similar to express trustsmeans a trust intentionally set up by the settlor, inter vivos or on death, usually in a form of written document, to place assets under the control of a trustee for the benefit of a beneficiary or for a specified purpose; and why it concluded that other legal arrangementsmeans an express trust or an arrangement which has a similar structure or function to an express trust, including fiducie and certain types of Treuhand and fideicomiso; governed under its law are not similar to express trustsmeans a trust intentionally set up by the settlor, inter vivos or on death, usually in a form of written document, to place assets under the control of a trustee for the benefit of a beneficiary or for a specified purpose;.

The Commission may adopt, by means of an implementing act, a list of types of legal arrangementsmeans an express trust or an arrangement which has a similar structure or function to an express trust, including fiducie and certain types of Treuhand and fideicomiso; governed under the law of Member States which should be subject to the same beneficial ownership transparency requirements as express trustsmeans a trust intentionally set up by the settlor, inter vivos or on death, usually in a form of written document, to place assets under the control of a trustee for the benefit of a beneficiary or for a specified purpose;, accompanied by the information referred to in paragraph 4, second subparagraph of this Article. That implementing act shall be adopted in accordance with the examination procedure referred to in Article 86(2).