Q&As

What should be entered in the PSC register of a UK private limited company where the shares are held by an individual via a Dutch foundation entity or Stichting Administratie Kantoor (StAK)? What are the obligations of the company (and the individual) if the Dutch entity refuses to supply details of its investors?

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Published by a ÑÇÖÞÉ«ÇéÍø Corporate expert
Published on: 28 September 2016
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This Q&A relates to the use of a Dutch Depository Foundation or Stichting Administratie Kantoor (StAK) as a special purpose vehicle to potentially reduce the transparency of an individual’s beneficial ownership in a UK private limited company.

Under Part 21A of the Companies Act 2006 (CA 2006), the two main categories of entity that should be recorded on a persons with significant control (psc) register are registrable individuals with 'significant control', and any other registrable 'relevant legal entity' (RLE). RLEs are legal entities under the law by which they are governed, would be individual PSCs if they were an individual, and are 'subject to their own disclosure requirements'.

Legal entities will not be RLEs if they are not subject to their own disclosure requirements, for example unlisted overseas

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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
PSC definition
What does PSC mean?

A person (or people) with significant control, as defined under CA 2006, Pt 21A. See also PSC register.

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