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  3. Law: Contract(s)

Nahestehende / nahestehende Personen

English translation: related persons/related parties

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Nahestehende / nahestehende Personen
English translation:related persons/related parties
Entered by: Camilla Seifert

05:35 Feb 16, 2008
German to English translations [PRO]
Bus/Financial - Law: Contract(s) / also finance-related
German term or phrase: Nahestehende / nahestehende Personen
Geschäftsbeziehungen mit Nahestehenden / ODER AUCH nahestehenden Personen

With reference to a previous entry: http://www.proz.com/kudoz/830949

Can I use "business relationships with INTERESTED PARTIES resp. PERSONS" - in this context? Close person - could work. But then "Nahestehende" on its own?? How would this best be translated? Many thanks.
Camilla Seifert
South Africa
Local time: 04:04
related persons
Explanation:
Example:

"Glossary

Related Persons

For purposes of related party transactions:

1. Members of your family, including only your brothers and sisters, half-brothers and half-sisters, spouse, ancestors, and your lineal descendents (child, step-child or foster child, and grandchildren.)


2. Businesses, organizations, and persons who have certain business relationships with you or your business and whom the IRS does not consider disinterested parties. For specific rules, see "Related Party Transactions" in IRS Publication 17, Your Federal Income Tax."


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Note added at 3 hrs (2008-02-16 08:55:54 GMT)
--------------------------------------------------

Hi Camilla, I can't tell without having more context. Affiliated would state that they are already in a contractual relationship, which makes a huge difference. Can you provide the full sentence please? TIA!
Selected response from:

Nicole Schnell
United States
Local time: 19:04
Grading comment
Thank you for all your help.
4 KudoZ points were awarded for this answer



Summary of answers provided
3 +10related persons
Nicole Schnell
4 -1closely connected (persons)
KARIN ISBELL
4 -1closely related/closely related persons
Vittorio Ferretti
3 -2associated person, person close to me
babli
4 -3affiliated person
Andries Conradie


Discussion entries: 5





  

Answers


1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): -1
Nahestehenden/nahestehende Personen
closely connected (persons)


Explanation:
Romain, Dietl/Lorenz

KARIN ISBELL
United States
Local time: 19:04
Works in field
Native speaker of: Native in EnglishEnglish, Native in GermanGerman
PRO pts in category: 23
Notes to answerer
Asker: Looking at Little Balu's reply (thank you for this!) - what do you feel about "affiliated associations"? The context is all to do with financial and business relationships.


Peer comments on this answer (and responses from the answerer)
neutral  Trans-Marie: Steht so weder im Romain noch im Dietl bzw. in welcher Auflage soll das sein?
8 hrs
disagree  Ulrike Kraemer: Sorry, aber "connected" ist in diesem Zusammenhang nicht gebräuchlich.
9 hrs
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1 hr   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): -2
Nahestehenden/nahestehende Personen
associated person, person close to me


Explanation:



Nahestehende Personen also means loved one.


    Reference: http://leo.dict
babli
Local time: 07:34
Works in field
Native speaker of: Native in HindiHindi
PRO pts in category: 8
Notes to answerer
Asker: Looking at Little Balu's reply (thank you for this!) - what do you feel about "affiliated associations"? The context is all to do with financial and business relationships.


Peer comments on this answer (and responses from the answerer)
disagree  Steffen Walter: These terms are not used in this context (finance, accounting).
4 hrs
disagree  Cetacea: Wrong in this context.
5 hrs
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2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): -1
Nahestehenden/nahestehende Personen
closely related/closely related persons


Explanation:
"closely" is a must to reneder "nahe..."

Vittorio Ferretti
Local time: 04:04
Native speaker of: Native in GermanGerman
PRO pts in category: 16
Notes to answerer
Asker: Looking at Little Balu's reply (thank you for this!) - what do you feel about "affiliated associations"? The context is all to do with financial and business relationships.


Peer comments on this answer (and responses from the answerer)
neutral  Steffen Walter: "closely" is not commonly used in this case (accounting, finance) in English.
3 hrs
disagree  Cetacea: Not only is "closely" not a must, it is wrong. What's more, you can't translate "Nahestehend" (noun) as simply "related"; you need either person or party to go with it.// Exactly! Problem is, "related" is not a noun...
5 hrs
  -> "nahestehende Personen" is the issue, an adjective + a noun
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11 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +10
Nahestehenden/nahestehende Personen
related persons


Explanation:
Example:

"Glossary

Related Persons

For purposes of related party transactions:

1. Members of your family, including only your brothers and sisters, half-brothers and half-sisters, spouse, ancestors, and your lineal descendents (child, step-child or foster child, and grandchildren.)


2. Businesses, organizations, and persons who have certain business relationships with you or your business and whom the IRS does not consider disinterested parties. For specific rules, see "Related Party Transactions" in IRS Publication 17, Your Federal Income Tax."


--------------------------------------------------
Note added at 3 hrs (2008-02-16 08:55:54 GMT)
--------------------------------------------------

Hi Camilla, I can't tell without having more context. Affiliated would state that they are already in a contractual relationship, which makes a huge difference. Can you provide the full sentence please? TIA!


    Reference: http://209.85.173.104/search?q=cache:kzPuN1cUNr8J:moneycentr...
Nicole Schnell
United States
Local time: 19:04
Native speaker of: Native in GermanGerman
PRO pts in category: 36
Grading comment
Thank you for all your help.
Notes to answerer
Asker: Looking at Little Balu's reply (thank you for this!) - what do you feel about "affiliated associations"? The context is all to do with financial and business relationships.

Asker: Nahestehende Personen mit Einfluss auf die XXX GmbH & Co. KG m laufenden Wirtschaftsjahr überschreitet die Summe der Entgelte aus Geschäftsbeziehun‧gen mit nahestehenden Personen i. S. d. § 1 Abs. 2 AStG aus der Lieferung von Gütern oder Waren € cccc


Peer comments on this answer (and responses from the answerer)
agree  Ulrike Kraemer: related parties or related persons respectively
2 hrs
  -> The full version - perfect! Thanks, LittleBalu!
agree  Steffen Walter: w/ LittleBalu - "affiliated associations" would be inappropriate since this would not relate to individuals but organisations.
4 hrs
  -> Same here. Thanks, Steffen!
agree  Susan Zimmer
6 hrs
  -> Thanks, SusieZ!
agree  babli: agree
7 hrs
  -> Thanks, babli!
agree  Cetacea: or "related parties"; see e.g. http://ftp.aicpa.org/public/download/news/relpty_toolkit.pdf
7 hrs
  -> Thanks, Christa!
agree  Julia Lipeles
7 hrs
  -> Thanks, Julia!
agree  Trans-Marie
9 hrs
  -> Thanks, LegalTrans!
agree  KARIN ISBELL
10 hrs
  -> Thanks, Karin!
agree  RobinB: Although the higher-level term is "related parties", which refers to both entities and individuals. The more common term is actually "related party individuals", which you'd only really use in apposition to "related party entities".
1 day 4 hrs
  -> Thanks, Robin!
agree  Tatjana Dujmic: Yes - or "related parties", see also IFRS (IAS 24) http://www.ax-net.de/inhalt/standards/ias_24/ias24_inhalt.ht...
2 days 4 hrs
  -> Thanks, Tatjana!
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5 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): -3
affiliated person


Explanation:
In business context.

--------------------------------------------------
Note added at 5 hrs (2008-02-16 10:52:00 GMT)
--------------------------------------------------

http://www.dict.cc/deutsch-englisch/nahestehende Personen.ht...

Andries Conradie
Local time: 04:04
Specializes in field
Native speaker of: Native in EnglishEnglish

Peer comments on this answer (and responses from the answerer)
disagree  Ulrike Kraemer: Sorry, but "affiliated" is not used in this context.
17 mins
  -> Don't appologize - it is a valid option
disagree  Steffen Walter: No, the term of art in finance/accounting is "related parties/persons". / That's what I did - I stand by my comment. / Yes, "term of art" in the sense of conventionalised usage.
50 mins
  -> term of art???
disagree  Cetacea: An affiliated person is something different. See e.g. http://www.investopedia.com/terms/a/affiliatedperson.asp // I don't doubt your intentions are honorable, but you're still wrong.
2 hrs
  -> I read Camilla's question and am trying to help, not to win an argument.
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