UBOs and Their Role
UBOs are natural persons who ultimately own or control a legal entity, either directly or indirectly. It is important to note the following:
— UBOs are always individuals and can never be companies themselves;
— Any natural person who owns or controls 25% or more of the business is considered a UBO, regardless of whether they have direct control over the entity;
— Other shareholders or individuals with controlling interests or significant influence in the company may also be considered UBOs;
— In case no such persons exist, we must consider the senior managing official (CEO or similar role) of your business as the UBO.