Atlantic Money

What is a UBO, and why do you need to know about them?

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.

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