According to Law No. 83/2017, a Politically Exposed Person (PEP) is someone who holds or has held prominent public or political positions in the last 12 months, as well as their immediate family members and people with close ties to these figures.
Examples of PEPs
These include, among others:
Heads of State or Government, Ministers and Secretaries of State;
Members of Parliament and members of parliaments;
Judges of high courts, members of the Constitutional Court or the Court of Auditors;
Heads of the Armed Forces, GNR and PSP;
Mayors;
Leaders of political parties;
Members of the management or supervisory bodies of central banks, public companies or international organisations.
What does it mean to be a close family member of a politically exposed person?
Close family members are considered to be:
Spouse or civil partner;
Relatives up to the 2nd degree (parents, children, siblings, grandparents, grandchildren);
Persons in a civil partnership with family members of the PEP, under the same terms.
What does it mean to be a person closely associated with a politically exposed person?
These are persons who:
Own companies or assets jointly with a PEP;
Are beneficial owners of entities controlled by a PEP;
Have known business or professional relationships with a PEP.
If you need further clarification, please contact us via support@daskapital.eu.
