# The Swiss beneficial-owner split **Why this matters:** the AMLR works with a single concept of *beneficial owner*. Switzerland works with **three distinct concepts**, in two different instruments, serving two different purposes. Mapping an AMLR beneficial-ownership article onto one Swiss provision therefore always captures only part of the picture. ## 1. Kontrollinhaber — the controlling person (GwV-FINMA Art. 56–58) Who ultimately controls an **operating legal entity or partnership**. Art. 56 Abs. 1 applies where the contracting party is a non-listed operating legal entity or partnership, or a subsidiary majority-controlled by one, and requires the financial intermediary to obtain a declaration identifying the controlling person. - Art. 56 — Grundsatz (principle) - Art. 57 — Erforderliche Angaben (required particulars) - Art. 58 — Ausnahmen von der Feststellungspflicht (exemptions) ## 2. Wirtschaftlich berechtigte Person — the beneficial owner of the assets (GwV-FINMA Art. 59–64) Who is economically entitled to the **assets**. Art. 59 Abs. 1 requires a written declaration as to the beneficial owner where the contracting party is not identical with that person, or where there is doubt. - Art. 59 — Grundsatz · Art. 60 — Erforderliche Angaben - Art. 61 — Kassageschäfte · Art. 62 — Geld- und Wertübertragungen - Art. 63 — Sitzgesellschaften (domiciliary companies) - Art. 64 — Personenverbindungen, Trusts und andere Vermögenseinheiten **The two are not interchangeable.** Control over the entity and economic entitlement to the assets are separate questions, established by separate declarations. Swiss practice keeps *Feststellung* (establishing the controlling person / beneficial owner) distinct from *Identifizierung* (identifying the contracting party). ## 3. The register definition (TJPG Art. 4) — new, in force 1.10.2026 The Transparency Act introduces a **third** definition, for the beneficial-ownership register rather than for financial-intermediary due diligence. TJPG Art. 4 Abs. 1 treats as beneficial owner any natural person who ultimately controls a company by holding, directly or indirectly, alone or in concert with third parties, **at least 25 per cent of the capital or votes**, or who controls it in another way. The operative duties sit in **TJPG Art. 7** (identify and verify), Art. 8 (documentation) and Art. 9–10 (report to the register); trusts are dealt with in Art. 15–16, penalties in Art. 43–44. > **Trap:** *TJPG Art. 35 is the audit power of the EFD control body* > (Prüfung der Informationen im Transparenzregister durch die Kontrollstelle) — **not** > beneficial-owner identification. ## Reading the mappings - A **due-diligence** obligation on the intermediary → GwV-FINMA Art. 56–64 (which of the two concepts depends on whether it is about control or economic entitlement). - A **register / transparency** obligation on the company itself → TJPG Art. 4, 7–10. - Where the AMLR article does both, expect the Swiss side to be split across both. ## Sources - GwV-FINMA SR 955.033.0, Art. 56–58 (Kontrollinhaber), Art. 59–64 (wirtschaftlich Berechtigte) - TJPG BBl 2025 2900, Art. 4 (definition), Art. 7 (identification and verification), Art. 35 (audit power)