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Operating Legal Entity (OLE)
An operating legal entity is a registered organization actively conducting business or operational activities. In Switzerland, operating entities are differentiated from domiciliary companies and the two are required to submit different AML documentation, with the former submitting form K and the latter form A.
Synonyms
Active company, operating business
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Acronyms
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OLE
Examples
Atfinity is a company that provides services to its clients, has employees and has a physical presence – thus it is considered an operating legal entity.
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FAQ
What is the difference between an operating legal entity and other types of entities?
An operating legal entity actively conducts business while holding or domiciliary companies are primarily used to manage investments and assets or for structural reasons.
How can you verify a legal entity’s operational status?
A legal entity’s operational status is verified by looking at their financial statements, tax filings, and public business records.
Why is identifying an operating legal entity important for compliance?
AML frameworks such as the one in Switzerland makes a difference between operating and domiciliary companies when tackling beneficial ownership.
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