What is a Related Person?
A related person is someone who is in a relationship with, family of, or has control over another person.
A person can either be a natural person (e.g. an individual) or a juristic person (e.g. company or trust).
In terms of an individual, a related person is someone who is in a relationship with or family of the other person. This relationship could be marriage or something similar, such as living together. Family means separated by no more than two degrees of blood, marriage or adoption.
In terms of a company or trust, a related person is an entity that is controlled or has control over the other person. This control could be direct or indirect, such as a subsidiary or someone with majority voting rights.
A person can either be a natural person (e.g. an individual) or a juristic person (e.g. company or trust).
In terms of an individual, a related person is someone who is in a relationship with or family of the other person. This relationship could be marriage or something similar, such as living together. Family means separated by no more than two degrees of blood, marriage or adoption.
In terms of a company or trust, a related person is an entity that is controlled or has control over the other person. This control could be direct or indirect, such as a subsidiary or someone with majority voting rights.
Updated on: 23/08/2023
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