Beneficial owner
A beneficial owner is an individual who ultimately, directly or indirectly, owns a company (usually a stake of 25% or more) or controls its actions. Information about them is disclosed to the bank and government authorities as part of compliance and AML/CFT.
The bank establishes the beneficial owners to assess sanctions and other risks. Concealing the real owner is grounds for refusing a transaction.
We will advise which information to disclose to the bank for your structure.
Related terms
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