# VSB 20 Art. 35 — Condominium owner and common ownership collectives - **Rubric (DE):** Stockwerkeigentümergemeinschaften und Miteigentümergemeinschaften - **Rubric (EN):** Condominium owner and common ownership collectives - **Chapter:** 4. Kapitel — Feststellung des wirtschaftlich Berechtigten an den Vermögenswerten (2. Abschnitt: Ausnahmen von der Feststellungspflicht) - **Scope:** Banks & securities firms (incorporated via [[GwV-FINMA Art. 35 - Identification, controlling person and beneficial|GwV-FINMA Art. 35]]) - **Status:** In force (since 1 January 2020) ## Description For condominium ownership communities (*Stockwerkeigentümergemeinschaften*), co-ownership communities entered in the land register (*im Grundbuch eingetragene Miteigentümergemeinschaften*) and other communities with a similar purpose, the beneficial ownership (*wirtschaftliche Berechtigung*) does not have to be established. ## Context & interpretation The SBA commentary gives, as examples of other communities with a similar purpose, company forms from the agricultural sector, such as forest, field, livestock-owner, fountain and land-improvement corporations (*Wald-, Flur-, Viehbesitzer-, Brunnen-, Meliorationskorporationen*), and burial funds (*Grabfonds*). ## FATF - [[FATF R.10 - Customer due diligence|FATF R.10]] — related: this article exempts certain communities from establishing the beneficial owner. ## Swiss counterparts - [[VSB 20 Art. 27 - Establishing the beneficial owner|VSB 20 Art. 27]] — the declaration duty from which this exemption applies (Art. 27 Abs. 5 reserves Art. 29–36). - [[VSB 20 Art. 26 - Condominium and co-ownership communities|VSB 20 Art. 26]] — same wording, but for the controlling persons (*Kontrollinhaber*) of such communities. - [[GwV-FINMA Art. 59 - Beneficial owner – principle|GwV-FINMA Art. 59]] — counterpart for GwV-FINMA Title 5 entities: written declaration of the beneficial owner, required there where the contracting party is not identical with the beneficial owner or this is in doubt (Abs. 1). - [[GwG Art. 4 - Establishing the beneficial owner|GwG Art. 4]] — statutory basis for establishing the beneficial owner. ## Part of - [[VSB 20]] ## Sources - VSB 20 (Vereinbarung vom 13. Juni 2018, in force 1.1.2020), Art. 35 - SBVg Kommentar zur VSB 20 (2020), Art. 35