- The guide clarifies which are the subjects and services that determine the obligation to register and present the annual document on corporate activity
The Ministry of Economy and Business has published in public hearing a guide that clarifies which are the subjects and services to be provided that determine the obligation to register in a register of service providers to trust societies and trusts, as well as to present the annual document about your corporate activity.
This obligation derives from the transposition of the IV Directive of the European Union on the prevention of the use of the financial system for money laundering and terrorist financing.
The rule was transposed into Spanish legislation through the modification of Law 10/2010, which states that legal entities, "business natural persons" and "professional natural persons" that provide services to companies and trusts must be registered of the trust type.
The unique additional provision of Law 10/2010, after its modification last September, establishes that the competence to create and manage this registry of suppliers corresponds to the Ministry of Justice and will be established within the Mercantile Registry. The providers of these services must register in the Mercantile Registry and subsequently submit a declaration to carry out these activities. Once they have been registered in the registry, they must submit an annual document for their deposit in the registry with information on the activity carried out to be determined.
The Ministry of Justice will approve a registration model for professional natural persons and the form to declare annually the specific activities related to the provision of these services.