Primus Trust Bizalmi Vagyonkezelő Zrt. is committed to ensuring the reliable and stable operation of our company for our existing customers. Therefore, we only accept new customers who strictly adhere to the original purposes of fiduciary asset management. We are fully committed to complying with domestic and international regulations aimed at preventing money laundering and terrorist financing (AML).
Since the beginning of our operation, we have placed great emphasis on preventing money laundering at a high level. We have a compliance department and a responsible compliance manager designated for monitoring money laundering and notified to the MNB and NAV FIU. The main elements of our compliance activities are customer identification and due diligence, identification of the basic business activity, investigation of the source of funds and the origin of assets, as well as continuous monitoring of existing customers and ongoing transactions.
We strive to make the compliance process transparent and predictable for new partners who choose us. Our goal is to guide potential customers quickly and smoothly through the steps of this essential process.
The most important documents of the compliance process are the following:
1, CLIENT REGISTRATION SHEET: By completing this sheet, the potential Client provides us with fundamental data and information on the trust to be established (e.g., the person of the beneficiaries, the composition of the trust assets, FATCA-related information etc.). The Client Registration Sheet is not an AML document, rather a KYC sheet.
2, PRELIMINARY DECLARATIONS SHEET: By completing this sheet, the potential Client provides us with more detailed information related to his/her contact data, personal data and can confirm the fundamental data on the prospective trust structure (settlor-trustee-beneficiaries-protector etc.). By signing this sheet, the potential Client makes a declaration that might have AML-relevance.
3, COMPLIANCE CHECKLIST: This supportive/informative document provides the potential Client with information that is useful for the Customer Due Diligence proceedings of Primus Trust Corp. The statutory formalities of the documents to be submitted to Primus Trust Corp. shall be considered mandatory and do have AML-relevance.
4, PT FEES FOR TRUST OF 2023: The potential Client shall pay to Primus Trust Corp. different fees during the onboarding proceedings (e.g., onboarding fee of the compliance measures, set-up fee for the establishment of a standalone trust etc.). This list contains all the fees of Primus Trust Corp.
5, AML ID SHEET: This statutory AML Sheet is mandatorily applied by Primus Trust Corp. Based on the information provided by the potential Client, Primus Trust Corp. fills in the mandatory data and the potential Client needs to sign the Sheet. By signing this Sheet, the Client unveils if he/she is ‘Politically-Exposed-Person’. The content of the Sheet shall not be amended.
6, AML BO DECLARATION: This statutory AML declaration is mandatorily applied by Primus Trust Corp. Based on the information provided by the potential Client, Primus Trust Corp. fills in the mandatory data and the potential Client needs to sign the Declaration. The content of the Declaration shall not be amended.
7, SOURCE OF WEALTH DECLARATION: This statutory AML declaration aims to obtain in-depth information from the Client regarding the composition of his/her assets in general. It is important that we need information not just about the assets to be transferred into the trust. The content of the Declaration shall not be amended.
8, KYC QUESTIONNAIRE: Primus Trust Corp. shall mandatorily categorize each Client as low/medium/high risk partner. The risk category serves as the base of the monitoring measures during the trust relationship. This questionnaire aims to obtain in-depth information from the Client regarding his/her financial/family/business background.
At Primus Trust Bizalmi Vagyonkezelő Zrt., we establish customer relations with potential new customers only after a successful compliance inspection. We are fully committed to filtering out individuals who have obtained their assets illegally and those who intend to misuse this legal structure for illegal purposes by evading trust management rules.