What is ubo?

UBO stands for Ultimate Beneficial Owner and refers to the natural person who ultimately owns or controls a legal entity such as a company or trust. Identifying the UBO is important for understanding the ownership structure and potential risks associated with a business entity, as well as for complying with anti-money laundering and know-your-customer regulations.

In many jurisdictions, companies are required to disclose information about their UBOs to relevant authorities, such as financial institutions or government agencies. The UBO is typically the individual who holds a significant ownership interest in the company, has the ability to influence or control its management, or otherwise benefits from its operations.

Identifying the UBO can be challenging, especially in cases where ownership structures are complex or involve multiple layers of ownership. However, it is important for ensuring transparency and accountability in the business sector, and for preventing illicit activities such as money laundering and tax evasion.