UBO
‘Beneficial owner of corporate entity’ refers to a natural person who ultimately:
1) directly or indirectly owns more than 25% of the shares in a legal person or otherwise has an equivalent ownership interest in the legal person;
2) directly or indirectly exercises more than 25% of the votes in a legal person and these votes are based on ownership, membership, articles of association, partnership agreement or equivalent instrument; or
3) in any other way effectively exercises control of a legal person.
If the beneficial owner cannot be identified or the conditions set out above are not met, the relevant legal person’s board of directors or active partners, managing director or another person holding an equivalent position are to be considered the beneficial owners.
The beneficial owners of housing companies, mutual real estate companies, religious communities and registered associations are considered the registered members of the board of directors. The beneficial owners of foundations are considered the registered members of the board of directors and the supervisory board.
1) directly or indirectly owns more than 25% of the shares in a legal person or otherwise has an equivalent ownership interest in the legal person;
2) directly or indirectly exercises more than 25% of the votes in a legal person and these votes are based on ownership, membership, articles of association, partnership agreement or equivalent instrument; or
3) in any other way effectively exercises control of a legal person.
If the beneficial owner cannot be identified or the conditions set out above are not met, the relevant legal person’s board of directors or active partners, managing director or another person holding an equivalent position are to be considered the beneficial owners.
The beneficial owners of housing companies, mutual real estate companies, religious communities and registered associations are considered the registered members of the board of directors. The beneficial owners of foundations are considered the registered members of the board of directors and the supervisory board.