What is a UBO?
An Ultimate Beneficial Owner (UBO) is the final person who owns or manages a company. This person does not have to be known directly as the owner, they may own the company through another company. A company cannot be the ultimate beneficial owner, it must be a person.
Information to be aware of before moving forward with KYB
As a UBO we understand an individual who:
- holds, directly or indirectly, more than 25% percentage of shares in the company;
- holds, directly or indirectly, more than 25% percentage percentage of voting rights in the company;
- holds, directly or indirectly, the right to appoint or remove a majority of the board of directors of the company;
- has the right to exercise, or actually exercises, significant influence or control over the company.
Note! In a sole proprietorship, the ultimate beneficiary is the sole proprietor.
If you have any questions about this topic, you can contact our customer support team by emailing support@paybis.com or using our live chat feature.