- The UBO is the natural person who possesses 25% or more of the company’s shares.
- The UBO is the natural person who has the authority to appoint or remove the majority of its directors.
- In cases where no specific natural person can be identified as the UBO, the individual holding the position of a higher management official shall be considered the UBO.
The Ultimate Beneficial Owner (UBO) refers to the individual who ultimately owns or manages a company. This person may not necessarily be publicly recognized as the owner. While such structures are not inherently illegal, they are frequently utilized for clandestine purposes, including criminal activities and fraudulent schemes.