English translation: to be the beneficiary owner (of assets, a company etc.)
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21:51 Oct 31, 2006
German to English translations [PRO] Bus/Financial - Law: Contract(s) / banking
German term or phrase:wirtschaftlich berechtigt
"Aufgrund der Informationen ist anzunehmen, dass an obigen Vermögenswerten folgende Personen wirtschaft berechtigt sind.
Economically justified? Perhaps, but that seems to result in an awkward sentence. "Financially qualified" exists in Kudoz but may not apply in the context of justifying the existence of a (Swiss) bank account. - Perhaps "economically qualified" or "financially justified" as a compromise? (But I do not like compromises!)
Explanation: This is a technical term widely used in connection with the financial market and money laundering and indicating the person or company that gets the financial benefit out of a company which might be registered in the name of another person or entity. It has nothing to do with justified, qualified, or entitled.