What is an Ultimate Beneficial Owner (UBO)?

A UBO refers to the natural person(s) who ultimately owns or controls an entity. For a company, any shareholder with a share holding >25% of the voting or economic rights, or who otherwise exercise effective control over the company, is classified as a UBO.<br/><br/>

UBOs of other entities include:<br/><br/>

Partnerships - partners with >25% share holding;<br/>
Charities - the trustees who control the charity's funds;<br/>
Trusts - the settlor who contributed the initial funds, the trustees who control the funds, and any other individual with control over the trust.

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