This video will help you better understand beneficial ownership legal structures and their complexities.

It is in line with the global standard The Financial Action Task Force (FATF) who defines a UBO as “the natural person(s) who ultimately owns or controls a customer and/or the natural person on whose behalf a transaction is being conducted. It also includes those persons who exercise ultimate effective control over a legal person or arrangement.” FATF sets out guidance for establishing beneficial owners, which may be identified as:

Persons that own at least 25% of share capital
Persons that exercise at least 25% of voting rights
Beneficiaries of at least 25% of an entity’s capital
Persons with power of attorney
Guardians of minors
Corporate directors or nominee directors that are appointed to conceal the true owners of a given firm
Shareholders, including the holders of bearer shares that may be transferred anonymously

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