Identifying Ultimate Beneficial Owners

This article explains who is considered to be an Ultimate Beneficial Owner (UBO) of an organisation.

bronID defines Ultimate Beneficial Owners (UBOs) to be individuals who own or control 25% or more of the organisation (such as a trust, an association or a company). Ownership and control may be direct (such as through shares) or indirect (such as shares held by a third party on the individual’s behalf). ‘Control’ means having the ability to determine decisions about the entity’s financial and operating policies (e.g. the roles of CEO, Chairman, Director, etc.).

An organisation may have more than one beneficial owner. By default, bronID first determined the beneficial ownership by the “rule of ownership”, and then by the “rule of control”.

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