Who is a UBO?
The ultimate beneficial owner is the individual who ultimately owns or controls a company.
The test
Anyone who directly or indirectly owns 25% or more of the shares or voting rights, or controls the company through other means. If nobody qualifies, the senior managing official is recorded.
Why it matters
Companies must keep a UBO register, banks verify UBOs on every account, and authorities use the information for AML purposes. See UBO register.
Common questions
Is a company a UBO?
No. A UBO is always an individual. Corporate shareholders are traced through to the individuals behind them.
Official sources
We check our guidance against these official sources. Always confirm current fees and rules before acting.