Article 67 Foreign legal entities and foreign legal arrangements

1. enter into a business relationshipmeans a business, professional or commercial relationship connected with the professional activities of an obliged entity, which is set up between an obliged entity and a customer, including in the absence of a written contract and which is expected to have, at the time when the contact is established, or which subsequently acquires, an element of repetition or duration; with an obliged entity;

2. acquire real estate in the Union, whether directly or through intermediaries;

3. acquire, whether directly or through intermediaries, any of the following goods from persons trading as referred to in Article 3, points (3) (f) and (j), in the context of an occasional transaction:

   1. motor vehicles for non-commercial purposes for a price of at least EUR 250 000or the equivalent in national currency;

   2. watercraft for non-commercial purposes for a price of at least EUR 7 500 000 or the equivalent in national currency;

   3. aircraft for non-commercial purposes for a price of at least EUR 7 500 000or the equivalent in national currency;

4. are awarded a public contract for goods or services, or concessions by a contracting authority in the Union.

1. they enter into a business relationshipmeans a business, professional or commercial relationship connected with the professional activities of an obliged entity, which is set up between an obliged entity and a customer, including in the absence of a written contract and which is expected to have, at the time when the contact is established, or which subsequently acquires, an element of repetition or duration; with an obliged entity that is associated with medium-high or high money launderingmeans the conduct set out in Article 3, paragraphs 1 and 5, of Directive (EU) 2018/1673 including aiding and abetting, inciting and attempting to commit that conduct, whether the activities which generated the property to be laundered were carried out on the territory of a Member State or on that of a third country; knowledge, intent or purpose required as an element of that conduct may be inferred from objective factual circumstances; and terrorist financingmeans the conduct set out in Article 11 of Directive (EU) 2017/541 including aiding and abetting, inciting and attempting to commit that conduct, whether carried out on the territory of a Member State or on that of a third country; knowledge, intent or purpose required as an element of that conduct may be inferred from objective factual circumstances; risks pursuant to the risk assessment at Union level or the national risk assessment of the Member State concerned referred to in Articles 7 and 8 of Directive (EU) 2024/1640; or

2. the risk assessment at Union level or the national risk assessment of the Member State concerned identifies that the category of legal entity or the sector in which the legal entity created outside the Union operates is associated, where relevant, with medium-high or high money launderingmeans the conduct set out in Article 3, paragraphs 1 and 5, of Directive (EU) 2018/1673 including aiding and abetting, inciting and attempting to commit that conduct, whether the activities which generated the property to be laundered were carried out on the territory of a Member State or on that of a third country; knowledge, intent or purpose required as an element of that conduct may be inferred from objective factual circumstances; and terrorist financingmeans the conduct set out in Article 11 of Directive (EU) 2017/541 including aiding and abetting, inciting and attempting to commit that conduct, whether carried out on the territory of a Member State or on that of a third country; knowledge, intent or purpose required as an element of that conduct may be inferred from objective factual circumstances; risks.

1. for the cases referred to in paragraph 1, point (a), prior to start of the business relationshipmeans a business, professional or commercial relationship connected with the professional activities of an obliged entity, which is set up between an obliged entity and a customer, including in the absence of a written contract and which is expected to have, at the time when the contact is established, or which subsequently acquires, an element of repetition or duration;;

2. for the cases referred to in paragraph 1, points (b) and (c), before completion of the purchase;

3. for the cases referred to in paragraph 1, point (d), before signature of the contract.

For the purposes of paragraph 1, point (a), obliged entities shall inform the legal entities where the conditions laid down in paragraph 2 are met and require a certificate of proof of registration or an excerpt of the beneficial ownership information held in the central register to proceed with the business relationshipmeans a business, professional or commercial relationship connected with the professional activities of an obliged entity, which is set up between an obliged entity and a customer, including in the absence of a written contract and which is expected to have, at the time when the contact is established, or which subsequently acquires, an element of repetition or duration; or occasional transaction.

In the cases covered by paragraph 1, legal entities created outside the Union and trustees of 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; or persons holding an equivalent position in a similar legal arrangementmeans 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; that are administered outside the Union or that reside or are established outside the Union shall report any change to the beneficial ownership information submitted to the central register pursuant to paragraph 1 without undue delay, and in any case, within 28 calendar days thereof.

1. for the cases referred to in paragraph 1, point (a), for the entire duration of the business relationshipmeans a business, professional or commercial relationship connected with the professional activities of an obliged entity, which is set up between an obliged entity and a customer, including in the absence of a written contract and which is expected to have, at the time when the contact is established, or which subsequently acquires, an element of repetition or duration; with the obliged entity;

2. for the cases referred to in paragraph 1, point (b), for as long as the legal entity or legal arrangementmeans 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; owns the real estate;

3. for the cases referred to in paragraph 1, point (c), for the period between the initial submission of the information to the central register and the completion of the purchase;

4. for the cases referred to in paragraph 1, point (d), for the entire duration of the contract.

Where the legal entity, the trustee of 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; or the person holding an equivalent position in a similar legal arrangementmeans 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; meets the conditions laid down in paragraph 1 in different Member States, a certificate of proof of registration of the beneficial ownership information in a central register held by one Member State shall be considered as sufficient proof of registration.

Where, on 10 July 2027, legal entities created outside the Union or 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; administered outside the Union or whose trustee or person holding an equivalent position in a similar legal arrangementmeans 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; resides or is established outside the Union own, whether directly or through intermediaries, real estate, the beneficial ownership information of those legal entities and 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; shall be submitted to the central register and accompanied by a justification for that submission by 10 January 2028.

However, the first subparagraph shall not apply to legal entities or 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; that have acquired real estate in the Union prior to 1 January 2014.

Member States may decide, on the basis of risk, that an earlier date applies and notify the Commission thereof. The Commission shall communicate such decisions to the other Member States.

Member States may, on the basis of risk, extend the obligation set out in paragraph 1, point (a), to business relationshipsmeans a business, professional or commercial relationship connected with the professional activities of an obliged entity, which is set up between an obliged entity and a customer, including in the absence of a written contract and which is expected to have, at the time when the contact is established, or which subsequently acquires, an element of repetition or duration; with foreign legal entities that are ongoing on 10 July 2027 and notify the Commission thereof. The Commission shall communicate such decisions to the other Member States.