14/01/2023
Who are considered UBOs?
UBOs are the individuals who ultimately own or control an organization, company, foundation or association (called a legal entity).
Consider, for example, people who own more than 25% of the shares in a company or people who have more than 25% direct or indirect ownership interest in a partnership or corporation.
Ultimate beneficiaries include, for example:
persons owning more than 25% of the shares of a company or legal entity, or
persons who own more than 25% of the voting rights of a company, or
persons who are statutory directors of a company, or
persons who effectively control the company.
For example, is the company part of a holding company? Then the owner of the holding company is the ultimate beneficiary (UBO) of the organization.
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