Ultimate Beneficiary Ownership (UBO)

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 If you find this video interesting, please subscribe and click the like button. You can also visit us on: greynblack.co.uk or email us on: [email protected] THANK YOU :)