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What does Ultimate Beneficial Owner mean?

The Beneficial Owner means 'Natural Person', who, whether acting alone or together, or through one or more juridical person, exercises control through ownership or who ultimately has a controlling ownership interest of / entitlements to:

  • More than 25% of shares or capital or profits of the juridical person, where the juridical person is a company;
  • More than 15% of the capital or profits of the juridical person, where the juridical person is a partnership; or
  • More than 15% of the property or capital or profits of the juridical person, where the juridical person is an unincorporated association or body of individuals.