The beneficiary is who in simple words for dummies

The term “beneficiary” began to be actively used in business practice in connection with the development of offshore business. And since people started talking about the “deoffshorization” of Russian assets in 2012, a whole series of legislative acts have been adopted aimed at identifying the real owners of domestic companies and clarifying their status. Meanwhile, the term has other meanings, which are also widely used in economics. Let's talk about who can call themselves a beneficiary, what this term means, where it is applied and how it is regulated by law.

Who is a beneficiary - detailed explanation

The beneficiary is the beneficiary. Translated from French, the concept means “profit”. Let's look at an example of how this works. Let's say you go to the bank and deposit money into a deposit account.

After some time, you withdraw interest from your account. That is, you make a profit. This is your benefit. If you act on this principle, then you can also be called a beneficiary. In the banking industry, this concept is often used.

Who else could it be? If you are an investor and hold a block of shares, then you receive a certain percentage of the profit, which means you are a shareholder and beneficiary in one person.

The easiest way to become an investor and receive shares of up to 25,000 rubles as a gift by completing free training is offered by Tinkoff Bank.

Thus, the beneficiary can be either an individual or a legal entity. The following types of assets can serve as a source of profit for the beneficiary:

• Inheritance. If a person is included in the will, then he is a potential beneficiary. Once the testator dies, the individual becomes the beneficiary.
• Investments. If a person invests money in a manufacturing company, then he also benefits. Based on the results, the investor receives a profit. (Investments can be made in securities, for the purchase of goods and equipment).
• Insurance payments. When an insured event occurs, the beneficiary receives payments made by the insurance company. Social transfers are often used as monetary compensation.
• Contributions to trust funds. The owner of the assets transfers them to professionals who, within a specified period of time, make monetary investments in the development of various brands, technologies, and companies. As a result, the income generated is given to the asset owners. Moreover, the intermediary also has a certain percentage.
• Property. Commercial real estate or residential premises also become sources of profit. That is, the person who rents out a room or a complex of premises makes a profit.

There may also be a lot of sources for the beneficiary. For example, owners of companies, bank accounts, shopping centers, as well as owners of information sites are beneficiaries.

What else to read: How to use a Tinkoff credit card, How to open a Yandex Wallet, What is reinvestment.

Who is the ultimate beneficiary?

The ultimate beneficiary can be called a person who is the owner of a network of companies or corporations. At the same time, the person receiving profit from production also has the right to manage it, control development, and make contributions.

On a note! It is impossible to gain access to the personal information of the ultimate beneficiary. These materials are confidential and only the owner of the company has the right to provide the necessary data.

Also, the founders always stand between profit and beneficiary. This can be either a branch of the enterprise or an individual who has a power of attorney for management. In turn, the intermediary has the right to provide the necessary information to banks and government services for security purposes.

This type of control appeared in 2013 and is necessary for the following cases:

• involving a nominee director in signing important company documents;
• opening bank accounts for individuals with signature rights;
• occurrence of tax crimes.

These checks are mandatory if a person wants to become an investor, share assets, or open their own production. As a result, when drawing up an agreement for the investment of financial resources, the final beneficiary provides the following list of documents:

• Personal INN;
• A copy of your passport;
• A completed questionnaire about yourself;
• Information about the actual place of residence.

If for some reason this package of documents is missing or does not pass verification, the contract can be terminated unilaterally.

Why beneficiaries don’t like to advertise themselves

Historically, in Russia, company owners have not sought to advertise their involvement in them. At first, because of not always legal methods of acquiring property, as well as because of the threat to one’s own safety, then because of the reluctance to come under the close attention of tax and other government authorities. The reluctance to bear public responsibility in the event of a company bankruptcy or violations of the law also plays a role.

Therefore, almost all large and most medium-sized companies have organizations, rather than individuals, as their formal owners. Often they are lined up in a chain in such a way that it would be difficult to trace the final owner. Everyone remembers how after the terrorist attack in 2011 at Domodedovo airport, even the Prosecutor General’s Office for a long time was unable to find out who is now the owner of this very large facility. As a result, it turned out that since 1993 the formal owner has changed 10 times, while the same businessman Dmitry Kamenshchik remained the beneficiary.

Another textbook example is Roman Abramovich. The ownership structure of his companies has not been officially confirmed by anyone and exists only in the conjectures of stringer journalists. It is believed that he owns the company Millhouse Capital UK Ltd, which, in turn, owns Evraz 8 securities, but not directly, but through the Cyprus offshore Lanebrook. Other assets of Abramovich are managed in equally complex ways - OJSC Holding Moscow-Invest, LLC Diall Alliance, etc. And it belongs to Abramovich through the Cypriot offshore Nevern Overseas.

However, legislation makes it possible to find out who is the beneficiary of a particular company.

Rights, obligations and functions of the beneficiary

Each owner, including the beneficiary, has individual rights and obligations. They are as follows:

1. Disposal of shares in the company. Then if a person is a co-founder, he has the right to make sales, donations, and sign.
2. Participation in shareholder meetings, expressing personal opinions and arguments.
3. Dismissing a person or hiring him without necessarily warning his superiors about this.
4. Inspection and control of general directors and secretaries for the period established by the document.
5. Appointment of a nominal owner of the enterprise, he in turn will represent the interests of the final beneficiary.

Please note that the beneficiary has the right to protection of his identity by the state. The main condition is official confirmation of ownership of the business or its shares.

Beneficiaries can also go to court for protection in cases where:

• the main owner of the business does not fulfill obligations;
• illegal actions were discovered in the company;
• there is a serious delay in license in the company;
• The powers to manage the company are not legally reduced.

Who is called the beneficial owner and who can become it

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Based on financial relationships and situations that arise during property management, the role of the “beneficiary” has minor differences.

The beneficial owner may be:

• heirs noted in the will as subjects receiving specific ownership of the estate or management of it. In addition, entities that are beneficiaries of any payments in the event of the death of the recipient;
• lessors who provide their property on lease for a constant payment;
• owners of bank accounts;
• clients of trust institutions who provided property or capital to confidential management for the purpose of making a profit;
• holders of letters of credit;
• persons receiving insurance payments;
• actual owners of companies.

To ensure their safety or to exclude claims from municipal authorities, the current economic community often resorts to concealing information about the real owner of specific assets. Most often this refers to the ownership and management of the economic activities of legal entities.

What documents are needed to confirm the rights of the beneficiary?

Without the appropriate package of documents, neither an individual nor a legal entity can be a beneficiary. To have the right to call yourself a beneficiary, you must prepare the following package of documents.

• Bank guarantee. It represents some kind of agreement between the bank and the recipient of the profit. The bank in this case is the executor (principal). If the latter does not fulfill his obligations to the client, he is obliged to compensate for the loss of funds.
• Trust management agreement. Such a document is needed if the beneficiary plans to make contributions to trust funds or companies. The second party to this agreement is the trustee.
• Insurance contract. This document is valid only if the recipient of the profit is registered with one of the insurance funds: for example, takes out insurance for movable, immovable property, life and health.
• Deposits. This document is drawn up in case of investing precious metals and large amounts of funds in different currencies.

Sometimes the beneficiaries are the workforce. That is, these are employees of different classes - mechanics, turners, accountants and others. They work for profit - getting paid.

The legislative framework

The legislation of our country will help you understand the concept of a beneficiary more specifically. The main regulatory act in this area is the so-called. “anti-money laundering law” 115-FZ. It defines the term “beneficial owner” (paragraph 13, article 3 of law 115-FZ):

The same federal law stipulates the obligation of banks and other financial institutions involved in transactions with funds to identify beneficial owners. The law also specifies the specifics of identifying these persons.

The latest amendment to the law was approved on June 23, 2016 and recorded in 215-FZ. It clarifies the specifics of the disclosure of information by legal entities. According to this regulatory act, they must record data on beneficial owners in their databases.

There is a requirement to regularly update this information at least once a year. They are required to provide this information upon request:

• authorized bodies,
• tax authorities;
• federal executive body.

A legal entity that does not provide this information will be fined.

The improvement of the legislative framework was caused by the need to increase the transparency of the activities of organizations and reduce the risks of their involvement in questionable activities, including those related to money laundering and the financing of terrorist activities.

The legislative framework regulating relations with beneficiaries was supplemented by Bank of Russia Regulation No. 499-P dated October 15, 2015. It prescribes the specifics of identifying beneficiaries and beneficial owners by credit institutions to ensure anti-income purposes. The Regulations specify:

• criteria for identifying beneficiaries by credit institutions;
• documents provided by its clients for these purposes;
• features of maintaining a client’s file;
• other questions.

At the same time, the Central Bank of the Russian Federation regularly explains to credit institutions the specifics of the operation of these laws and examines exceptional cases. These points are covered both in letters from the Central Bank of the Russian Federation and in conferences, round tables, etc.

Can the beneficiary be absent?

The beneficiary may not be present in companies conducting non-profit activities. In accordance with current legislation, individuals do not have the right to build a business and receive benefits.

The tasks of such companies include organizing public events, city meetings, and creating unions and associations. Also in the field of charity there are no beneficiaries.

However , there is always money on the balance sheet of non-profit organizations. This is the profit from the activities of the enterprise. It does not go into the hands of the owner, but is directed towards the improvement and development of the organization.

As for financial institutions, there is a turnover of funds in them, so it is impossible to do without a beneficiary.

Participation in insurance and inheritance

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One of the most important tasks when purchasing life insurance is naming a beneficiary. The beneficiary is the person who will receive the insurance benefit if the policyholder passes away. Selecting one or more beneficiaries is as simple as writing a name on a life insurance application. However, there are a number of potential tax, financial and legal consequences if beneficiaries are not named properly.

The beneficiary may be identified either by name or by class, such as “children of the insured.” When designating a class of people as a beneficiary of a life insurance policy, additional clarification may be required. For example, Nikolai intends to leave his insurance policy for 500,000 rubles to his children. However, he has been married twice, and has two stepchildren in addition to his three biological children . Nicholas will need to clarify whether he wants the proceeds from the insurance to be distributed among all of his children, both biological and adopted, or whether the proceeds should be paid only to his biological children.

This still leaves the question of the names of the primary and secondary, or "contingent" beneficiaries. For example, Nikolai indicates that his life insurance is divided equally between his biological children: Andrey, Ivan and Elena. Unfortunately, Andrei died in a car accident five years before Nikolai's death. Does this mean that the income will be divided equally between Ivan and Elena? Or will Andrei's part be divided between Andrei's wife and children? This situation needs to be planned for by naming each beneficiary and their “heirs and assigns,” which makes it possible to allocate portions of the beneficiary to their heirs or someone they designate themselves.

A person naming a minor child as a beneficiary of a life insurance policy must also indicate whether the money should be paid to the child while he is still a minor or whether the money should be deposited into a trust account to be paid out at a specified age.

IT IS IMPORTANT TO KNOW! Life insurance companies are usually reluctant to pay money to a minor child, preferring to pay the proceeds to the legal guardian. A guardian can be appointed in accordance with the Law on Unified Transfers to Minors, eliminating the need to appoint a guardian (Federal Law of April 24, 2008 N 48-FZ “On Guardianship and Trusteeship”).

Life insurance proceeds do not go through the probate process because the insured has already named a beneficiary.

Information that is provided to the beneficiary includes:

• type of life insurance - whole or some term;
• who are the beneficiaries;
• how much the insurance company will pay.

When the time comes to claim life insurance benefits, the beneficiary should call the insurance company. He will be asked to fill out an application form and provide a copy of the death certificate of the insured person.

Are there differences and similarities between a beneficiary and a beneficiary?

Both the beneficiary and the beneficiary have the only similarity - they receive profit from their own property. Otherwise, they are distinguished by the following two points.

Share in property

The percentage of the beneficiary's share in the property is 25%, no less. Thus, the person has the right to control all processes: make appointments, conduct interviews, staff meetings.

The beneficiary does not have this opportunity, since the share of his property is less than 25%.

Individual and legal entity

Beneficiaries can be individuals and legal entities. If we are talking about the final beneficiary, then he can be exclusively a legal entity.

Who are the controlling persons?

The modern concept of controlling persons was introduced into legislation in connection with the activities of foreign companies, the real owners of which were Russian businessmen. We are talking, first of all, about offshore companies.

So, the controlling person of a foreign organization is:

• an individual or legal entity owning more than 25% of the shares or shares of a controlled company;
• a person (individual or legal entity) owning 10% of shares or shares in a company, provided that more than 50% of such shares or shares (in total) are owned by residents of the Russian Federation;
• a person who does not fall under the first two points, but controls a foreign company in his own interests or in the interests of a spouse or minor children.

A few words about publicity

If a company lists its shares on major world exchanges, then the obligation includes providing personal information about the beneficiary.

In some cases, its activities can be hidden by creating offshore companies. However, the authorities have the right to obtain the necessary information through legislation.

On a note! If the corporation is large enough, then information from the beneficiary’s personal file must be indicated on popular Internet resources.

List of information about which a legal entity is obliged to have about its beneficial owner

A legal entity is obliged to know its beneficial owners and have the following information about them:

• surname, name, patronymic (unless otherwise follows from the law or national custom);
• citizenship;
• Date of Birth;
• details of the identity document;
• details of a migration card, a document confirming the right of a foreign citizen or stateless person to stay (reside) in the Russian Federation;
• address of place of residence (registration) or place of stay;
• Taxpayer Identification Number (if available).

Who is the Beneficial Owner?

A beneficial owner is a person who has direct influence over the company, whether or not he or she is considered to have a formal record of the corporation's operations.

That is, if the premises in which the office is located is your property, and you rent it out, then you will be the beneficial owner.

Who requests this information?

First of all, inspection authorities need to obtain reliable information about beneficial owners. This information is so important for several reasons. They are needed to organize counteraction:

• “laundering” of criminal proceeds;
• financing of terrorist activities;
• tax fraud;
• illegal withdrawal of funds abroad, etc.

In addition to inspection bodies, creditors also need this information when making an informed decision about the possibility of providing funds.

Credit institutions in which clients open accounts are required to identify information about beneficial owners. In the questionnaires, they are required to indicate whether they are acting in their own interests or for the benefit of third parties. The credit institutions themselves transmit this information to Rosfinmonitoring.

To combat money laundering, credit institutions must establish the following information about their client’s beneficiary: full name, nationality, date of birth, residential address, tax identification number, passport or migration card details.

A sample of filling out this information is given in 115-FZ.

You can download a sample of filling out information about the beneficial owner in the form of forms: HERE (PDF file) and HERE (Word file).

Foreign trade activities

When carrying out foreign trade activities, the beneficiary can be either an individual or a legal entity. First, traditionally this is a company that acts as a seller of services or goods. The second is the owner of the bank account through which monetary benefits are received.

In case a company or person owns shares, then they have the right to:

• change the capital of branches and the entire corporation as a whole;
• transfer your shares to another beneficiary;
• choose a nominee director of the company;
• participate in boards of directors;
• adjust the scope of the company's activities.

Note! If the beneficiary has an insurance policy, he will be the recipient of the amount of transfers between the seller and the buyer.

Useful links: How to buy bitcoins for rubles step-by-step instructions, Tinkoff brokerage account conditions, Allocation of expenses.

Explanation of the concept of “Beneficial Owner”

On December 21, 2016, the Federal Law of June 23, 2016 No. 215-FZ “On Amendments to the Federal Law of August 7, 2001 No. 115-FZ “On Combating the Legalization (Laundering) of Proceeds from Crime and the Financing of Terrorism” came into force "

The purpose of the law is to combat money laundering, unjustified receipt of tax benefits, and deoffshorization of the Russian economy.

A beneficial
owner , according to 115 Federal Law
, is an individual who ultimately directly or indirectly (through third parties) owns (has a predominant participation of more than 25 percent in the capital) a client - a legal entity or has the ability to control the actions of the client. The beneficial owner of a client who is an individual is considered to be this person, unless there are grounds to believe that the beneficial owner is another individual.

The IRSOT company has prepared an excellent video on this topic, be sure to watch:

What obstacles may arise for the beneficiary?

Unfortunately, not everyone can become beneficiaries. When trying to register yourself as such a person, some obstacles may arise. You will not be able to register yourself as a beneficiary if:

• the business has existed for less than three months or has been operating in this direction for no more than 90 days;
• Previously, there were situations with non-fulfillment of certain financial obligations, as well as lost court proceedings on this issue;
• there is no property for collateral or it is under arrest;
• the requested monetary amount exceeds the final annual balance.

Guarantors are often interested in experience in carrying out such work. It is advisable to provide them with the positive results of conducting such activities in large organizations. The solution process can take a long time. This is due to the desire to minimize risks for the client and the performer.

Participation in real estate registers

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In most countries, property registries show the names of the owners. In some cases, beneficial owners may not want their name to appear on public records. In such cases, trustees or other entities usually act as legal owners instead of the actual owner. For example, famous artists or politicians may not want their home address to be easily found in public records, so they do not appear personally on property deeds.

What to read

If you want to understand more about investing and managing your own finances, we recommend reading the following free books and guides:

• Educational PDF manual “5 ways to effectively invest 1000+ rubles” from the City of Investors project. Here you will find a detailed analysis of each method with examples, as well as recommendations from the authors based on personal experience.
• For people with an analytical mindset, the free instruction book “How and where to invest in 2021-2022” will be useful. The material is presented in simple language and specific recommendations are given.
• For the most ambitious, the guide “How to become financially independent in 1 year” is suitable. The book outlines a step-by-step strategy for gaining financial independence and provides practical tools.
• If you want more stability in your life, we recommend the “6 Steps to Financial Security” guide. You can download it for free here.

The material in the presented guides is small in volume; it will not take much time to study, but it will help you take the first steps towards personal financial well-being.

We also recommend a useful master class from Evgeny Khodchenkov, “Investing without a million in your pocket.” Participation is free, you just need to register here.

The role of the beneficiary in payments

If an insured event specified in the policy occurs, the beneficiary receives the insurance payment. In this case, the beneficiary may not be a beneficiary, that is, the owner of the property, for example, if a mortgage is insured.

Or here’s another example: a spouse insured his life, and when an insured event occurs, the spouse will be the beneficiary, but the beneficiary here is still the spouse. Read more about life and health insurance here.

In inheritance cases, the circle of beneficiaries is determined by the will of the testator. Thus, the persons indicated in the will, or claiming the inheritance according to the law, will be beneficiaries in the inheritance matter.

Let's sum it up

In this article we looked at who a beneficiary is. They explained in simple terms where he worked and what duties he performed. Based on this information, you can decide for yourself how profitable it is to have such a way of earning money.

Sincerely, Victoria Chernyshenko specially for the proudalenku.ru project

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Rules for providing information about the beneficial owner

Decree of the Government of the Russian Federation dated July 31, 2022 No. 913 approved the Rules for the provision by legal entities of information about their beneficial owners and the measures taken to establish in relation to their beneficial owners the information provided for by the Federal Law “On Combating the Legalization (Laundering) of Proceeds from Crime and Financing terrorism”, at the request of authorized government bodies.

Terms to be differentiated

Who is the beneficiary? Beneficiaries are both individuals and organizations. In insurance companies, this is the person entitled to receive payment. This may not only be the owner of the insured property. For example, a bank has the right to receive funds. In this case, the beneficiary is the credit institution.

The term under discussion is widely used in the insurance industry.

In life insurance, not only the insured person is considered as such, but also the spouse and heir.

In the field of lending, a bank can also be a beneficiary. Here this mechanism is called a bank guarantee.

An agreement is concluded between 3 parties (financial institution, borrower and insurance company), according to which the first, in the event of unfavorable events for the second, receives payment from the third. When applying this practice, the level of various risks associated with non-payment of debt due to accidents and other circumstances of the borrower is reduced.

Important! The definitions of beneficiary and beneficial owner have different meanings. The first makes profit for the company. A beneficial owner is a person who directly or indirectly influences the work of the company, can manage it and receive income. Government authorities are trying to find out everything about the beneficial owners of the company.

The term “beneficial owner” is defined quite specifically in the law. This is a subject that has actual power in making decisions in the organization due to the ownership of shares in the authorized capital of more than 25%. Its key activities may be carried out directly or indirectly through third parties. As an example, we can say that these include the founders of enterprises, holders of large blocks of shares (in joint-stock companies), as well as participants with a large share of the organization’s capital.

Establishing a beneficiary for legal entities - features, nuances

No commercial organization a priori can exist without a beneficiary, since the purpose of its creation, enshrined in the statutory documents, is to make a profit.

The exception is non-profit structures, the purpose of which is not to make a profit as such.

Often they prefer not to advertise information about the final owner, for security reasons or possible claims from regulatory authorities.

They also prefer not to disclose company information:

• optimizing taxation and evading taxation;
• implementing their activities using offshore zones;
• laundering money obtained through criminal or illegal means.

Also, in the company’s title documents, the beneficial owner may be absent, or his share may be reduced to a minimum, but de facto he is the owner of the company’s assets, with influence on its activities and receiving profit from it.

In order to establish the final beneficiary, you must first ask the founders of the company for the necessary information about the beneficiaries (individuals) - they will be required to provide you with this information.

They must be confirmed by relevant documents. Record the collected information, complete it in accordance with internal regulations and set it aside until you receive a request from the Federal Tax Service or Rosfinmonitoring.

Beneficiary in a bank guarantee

Legal entities actively use bank guarantees.

Its essence is that the bank (guarantor) vouches for the company (principal) that applied for the guarantee, to a third party (beneficiary) with whom the company (principal) has concluded an agreement, or for the full performance of the agreement by the parties.

The principal here acts as a debtor to the beneficiary, and if he does not fulfill his obligations to him, then the guarantor assumes his obligations, usually calculated in monetary terms.

Bank guarantees are provided:

• as a payment return guarantor;
• payment, in some cases;
• as a guarantee of performance of work, services, supplies;
• as a customs guarantee;
• as a guarantee of repayment of loan money.

If the principal fails to fulfill the terms of the agreement, under which the bank acts as the Guarantor, monetary compensation is paid to the beneficiary, who is also the beneficiary.

Take action!

Guide to action:

1. Collect information about the beneficial owners (requests, letters, etc. to the founders);
2. Draw up a schematic chain of companies up to the final beneficiary, indicating the shares;
3. Calculate the formula to determine the share of ownership of the final beneficiaries;
4. Identify beneficiaries with participation shares of 25% or more;
5. Fill out the forms: list of beneficiaries, information about the chain of owners, questionnaire.
6. Wait for a request from the Federal Tax Service, Rosfinmonitoring or a bank, etc.

Protecting the rights of beneficial owners

When a person transfers part of his assets to trust management, there are always certain risks.

The main risks include:

• concealment of the real state of affairs at the enterprise by the current management;
• use of fraudulent schemes in work;
• violation of the terms of the trust agreement;
• failure to meet deadlines and agreed amounts of income;
• reducing the influence of the beneficiary on decisions made.

To minimize risks, it is necessary to draw up a trust agreement , providing for serious sanctions for its violations, and insist on the unconditional implementation of all points.

Obligation to record and notify beneficiaries

If a company wants to participate in transactions with government agencies or sign agreements with credit institutions, it will have to collect complete information about its activities and owners. Everyone. Including the ultimate profit recipients.

In order to confirm their own reliability, those wishing to open a deposit or make other financial transactions must provide information about their activities. If a criminal case is opened against a client, financial institutions are required to provide data to the investigative authorities.

The list of documents required to be provided includes:

• identification card of each owner;
• address of place of actual residence;
• a completed special profile questionnaire.

If the information is not provided in full or if it contains inaccurate or deliberately distorted information, the other party will not sign the agreement.

Liability for failure to notify

From December 21, 16, legal entities in Russia were required to keep records and notify the Federal Tax Service of the Russian Federation and Rosfinmonitoring about their own beneficial owners annually. Otherwise, such organizations will be fined up to half a million, and their owners up to 40 thousand rubles.

How to submit information about beneficiaries

Information about beneficiaries is provided in free form, indicating their full name, date of birth, citizenship, information about place of residence, and passport details. To update data, you need to keep records of the following documents:

1. rules for collecting and storing information about the beneficial owner;
2. rules for accounting for measures used to identify beneficial owners;
3. list of beneficial owners (similar to the list of participants);
4. a questionnaire containing identification information about the beneficial owners;
5. information about the chain of ownership.

Thus, any person who receives income from a drawn up agreement, a debt document or from the activities of a company can be called a profit recipient. Government supervisory authorities pay great attention to the beneficiaries of commercial enterprises. Control is necessary to respect the rights of citizens and protect the state from corruption, the activities of criminal organizations and terrorist groups. As a rule, companies have a negative attitude towards control. Therefore, they often withdraw money to offshore companies, where they hire nominee managers to fictitiously manage the company. If you use the right schemes and countries, the likelihood of confidentiality violation is extremely small, but it still exists: information leakage, changes in the political situation and laws in offshore jurisdictions can, in theory, lead to the transfer of information to interested states.

The concept of a beneficiary in itself does not have a negative meaning. This is a common economic and legal term used to characterize a certain group of persons. You, too, may be classified as one of them depending on your field of activity and involvement in a special type of legal relationship. Therefore, do not rush to judge everyone whom the media names as a beneficiary.