Supervision on Trust offices

Supervision on Trust offices

The Supervision of Trust Offices Act aims to safeguard the integrity of (part of) the Dutch financial system by regulating the Dutch trust sector and incorporating recommendations by the Financial Action Task Force on money laundering (FATF) and OECD. As a result of the Act, Dutch trust companies may only operate under a license issued by the Dutch Central Bank and are obliged to comply with strict regulations. Before accepting a client and therewith providing such a client access to the Dutch financial system, we perform “knowing your client” (KYC) checks, by way of identifying the ultimate beneficial owner (UBO) of the structure, the source and allocation of funding and establish that the structure as such is not contra legem.

Needless to say, all information will be handled with the utmost confidentiality. If you choose to engage Residence CS, we will provide you with all the necessary agreements, including a detailed description of the nature and scope of our services as well as an understanding of our mutual rights and obligations. Upon request we will provide you with our client acceptance procedure and guide you efficiently through the process.