What does UBO mean? What is the full form of UBO?
The Full Form of UBO is Ultimate Beneficiary Ownership.
Countering fraud, money laundering and terrorist financing have become top priorities for regulators in recent years. Fraudulent parties use off-shore accounts to mask their activity and investigators regularly trace suspicious transactions to fictional addresses, PO boxes or the private homes of unsuspecting residents.
A UBO or Ultimate Beneficial Owner is the person or entity that is the ultimate beneficiary when an institution initiates a transaction. A UBO of a legal entity is a person who:
- Holds an interest of minimum 25% capital of the legal entity
- Has minimum 25% voting rights at the general meeting of shareholders
- Receives minimum 25% of said legal entity’s capital as beneficiary
UBO
means
Ultimate Beneficiary Ownership
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