Ultimate Beneficial Owner

An ultimate beneficial owner (UBO) is a person who directly or indirectly owns, controls, or benefits from a business. If companies are known to have "branches", you could say that UBOs are something like the roots. In concrete terms, a person is considered an ultimate beneficial owner if: !) their ownership percentage is equal or greater than the local authority's disclosure threshold, ranging between 5-25%; 2) they control a percentage of votes equal or greater to that of the disclosure threshold; 3) they have the power to appoint or remove the majority of the board of directors; and (4) they have influence over decision-making.

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