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List of professionals

The following organizations and persons, listed in Article 1 of Act 1362 of 3 August 2009 amended on the fight against money laundering, terrorist financing and corruption are subject to the provisions of this Act:

1°) persons carrying out banking or bank intermediation activities on a regular basis;
2°) payment institutions and electronic money institutions;
3°) persons carrying out the activities covered by Article 1 of Act 1338 of 7 September 2007 on financial activities amended;
4°) insurance companies mentioned in Article 3 of Sovereign Order 4178 of 12 December 1968 instituting State supervision of insurance undertakings of all types and of capitalization undertakings and organizing the insurance industry, insurance intermediaries, agents and brokers established in the Principality concerning life insurance and other forms of insurance related to investments;
5°) persons appearing on the list specified in Article 3 of Act 214 of 27 February 1936 amending Act 207 of 12 July 1935 on trusts, amended;
6°) persons usually carrying out operations of formation, management and administration of legal persons, legal entities or trusts in favour of third parties and who, in this capacity either:

  • Intervene as agents to constitute a legal person, a legal entity or a trust;
  • Intervene or carry out the necessary arrangements so that another person may carry out the duties of administrator or company secretary of a partnership, shareholder in a joint stock company or hold a similar position for other legal persons or entities;
  • Provide a registered office, commercial address or premises, or an administrative or postal address for a partnership or joint stock company  or any other legal persons or entities;
  • Are involved in or carry out the necessary arrangements so that another person may act in the capacity of trust administrator;
  • Are involved in or carry out the necessary arrangement so that another person may intervene in the capacity of a shareholder acting on behalf of any other person;

7°) gambling houses and all gambling service providers;
8°) bureau de change;
9°) fund transmitters;
10°) professions subject to Act 1252 of 12 July 2002 on occupation entry requirements for some transactions relating to real estate and goodwill;
11°) property traders;
12°) consultants of advisers in business, legal or tax matters;
13°) surveillance, protection and cash-in-transit services;
14°) dealers and persons organizing the sale of or regularly involved in the trade of the following goods: antiques, work of art, precious materials, precious stones, precious metals, jewellery, clocks and watches, leather goods and other valuable assets;
15°) agents of those granting loans secured by pledges;
16°) multifamily offices;
17°) professionals regulated by Act 1231 of 12 July 2000 pertaining to the occupations of chartered accountants and certified accountants;
18°) crowd-funding advisers and intermediaries;
19°) persons exercising the occupation of sports agent;
20°) persons not mentioned above and in Article 2 who, professionally, carry out, monitor or give advice on transactions leading to the movement of capital, solely for the said transactions.

Organisations and persons carrying out financial activities that fulfil the following conditions are not subject to the provisions of this Act of the activities:

  • Generate a turnover which does not exceed a maximum amount determined by Sovereign Order;
  • Are limited to transactions which must not exceed a maximum amount per client and per transaction, determined by Sovereign Order , and the transaction must be carried out in a single operation or several operations appearing as related;
  • Do not constitute the main activity and generate a turnover not exceeding a percentage of the total turnover of the organization or person concerned, the amount of which is to be determined by Sovereign Order;
  • Are accessory to a main activity which is not mentioned in 5°) to 7°), 10°) to 12°) and 17°) of the first paragraph of this Article and are directly linked to it;
  • Are carried out solely for clients of the main activity and not generally offered to the public.

 

Where these provisions of the Act 1362 of 3 August 2009 amended expressly state this, they are also applicable to the persons mentioned in Article 2 of this act :

1°) notaries;
2°) bailiffs;
3°) senior attorneys (avocat –défenseur), lawyers and junior barrister if;

  • They assist their clients in the preparation or conduct of transactions concerning the purchase or sale of property or commercial enterprises, in the arrangement of the capital contributions required to set up, manage or run companies, or to set up, manage or run trusts, companies or similar entities;
  • They act for their clients and on their behalf in any financial or property transaction.

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