Obligation to declare until 31 October 2019

About the beneficial owner and the data of the beneficial owner of the legal entity or business organisation without legal personality

Pursuant to the Act on the Prevention of Money Laundering (Act LIII of 2017 (Pmt.)), the representative of all legal entities or business organisations without legal personality that has a business relationship with our bank shall re-declare about the beneficial owner and the data of the beneficial owner of the legal entity or business organisation without legal personality as the scope of data required by law is extended.

Deadline: 31 October 2019 in accordance with the modified act.

What kind of declarations shall be submitted?

Legal entities or business organisations without legal personality shall submit at least one, at most three, declarations.

  1. The authorised representative shall make a statement in any case about the relevant data of beneficial owner in the form (surname, first name, surname and first name at birth, nationality, place and date of birth, address – or place of residence instead –, nature and extent of ownership interest, politically exposed person status).

  2. The form on the politically exposed person status should only be completed if the beneficial owner is a politically exposed person or an immediate family member of a politically exposed person or a close associate of a politically exposed person. In this case the exact point in Section 4 Subsection (2) of the law shall also be declared which the beneficial owner is considered as a politically exposed person.

  3. The declaration on the ownership structure entitled should only be filled in by those organisations which have a corporation or an organisation in their ownership. In this case, the entire ownership structure shall be outlined up to the ultimate natural person owner. For this, the explanation under the Frequently Asked Questions can be helpful. The corporation or organisation does not need to complete this declaration if it has only natural person owners.

How shall the declaration be submitted?

We ask our clients to fill-in and duly sign the declaration as soon as possible and:

  • to hand over personally to the OTP branch where their accounts are kept or
  • to send back by regular mail to the OTP branch where their account are kept.

If you have any questions please contact the account managers at the branch where your account is kept.


For further information, please read the Frequently Asked Questions that helps you to get information about who is a beneficial owner or politically exposed person.


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