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English to Romanian translations [PRO] Bus/Financial - Finance (general)
English term or phrase:beneficial ownership
1. A system of central registration (or up front disclosure system) where a national registry records the required ownership and control details for all companies and other legal persons registered in that country. The relevant information could be either publicly available or only available to competent authorities. Changes in ownership and control information would need to be kept up to date.
2. Requiring company service providers to obtain, verify and retain records of the beneficial ownership and control of legal persons.