188ÌåÓý

Requirement for businesses within a group structure to registerÌý

Only businesses within a group structure that engage in relevant activity must be registered for anti-money laundering supervision. Each separate legal entity must be registered in its own right unless it is acting as an agent. Further guidance on agent registrations is available in ECSH44425Ìý- Agent guidance.

If a business within a group structure does not engage in relevant activity, there is no requirement for that business to be registered for anti-money laundering supervision.Ìý

Unless the parent company in a group structure is engaging in relevant activity, it does not need to be registered for anti-money laundering supervision.Ìý

Guidance on group structures that extend overseas is available in ECSH43040.

Beneficial ownersÌý

While the parent company may not be required to register for anti-money laundering supervision, the beneficial owners of the group will need to be included as relevantÌýpersons in any application to registerÌýthe groupsâ€� subsidiaries who undertake relevant activity. For further guidance on whether beneficial owners should be included in a businessâ€� application to register with HMRC for anti-money laundering supervision, see ECSH45791.Ìý