Ultimate Beneficial Owner (UBO)

Ultimate Beneficial Owner (UBO)

Usually owns 75% or more. The abbreviation means Ultimate Beneficial Owner, i.e. the person or entity that is the ultimate beneficiary of the company. Certain financial and other organisations, including banks, currency exchange offices and insurers, are subject to mandatory disclosure of the UBO if doing business with any party.

Business plan for banks & financial institutions KYC. The Ultimate Beneficial Ownership (UBO’s) refers to the natural person(s) who ultimately owns or controls a customer and/or the person on whose behalf a transaction is being conducted.

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