A. Definition of the reporting entity

Notaries are law professionals vested with public functions that, according to Law 11/2017, of 25 of May, on Notaries, have authority to attest contracts and other extra-judiciary acts, preserve them in notarized acts and issue copies of these. 

Notaries are reporting entities that participate, by acting on behalf of and for their client in relation to any financial or real estate transaction, or by assisting in the planning or execution of transactions for the benefit of the client concerning the:

- Purchase, sale or any other disposition act concerning real estate property or legal entities;

- Management of the funds, securities or other types of assets of the client;

- Opening or management of banking, savings or securities accounts;

- Organization of necessary contributions for the creation, functioning or management of legal entities;

- Creation, functioning or management of trusts legal entities, associations, foundations, or similar structures.

For more information:

- Law 11/2017, on 25 May, on Notaries and article 2 letter b) of Law 14/2017.

B. Obligations of the reporting entity

The main obligations attributed to the notaries in the matter of the prevention of money laundering and terrorist financing are the following: