ECSH43040 | Carrying out business in the United Kingdom (UK): group structures that extend overseas

Premises

If a business is carrying out business in the UK and also has branches or offices overseas, only the UK premises need to be included on the application form.

Beneficial Owners, officers and managers (BOOMs)

All BOOMs must be included in the business’ anti-money laundering registration even if they do not live in the UK.

Third Country Branches

When a business group structure extends overseas regulation 20(3) of The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017) requires the relevant parent undertaking to ensure third-country branches and subsidiaries in countries with weaker AML requirements than the UK apply measures equivalent to those in the UK.

Further guidance on group structures based in the UK is available in ECSH40545.