What does UBO mean?

What does UBO mean?

Ultimate Beneficiary Owner (UBO) is the owner who ultimately owns or controls a company or an entity. As per IFSCA guidelines, in case of a company “Controlling ownership interest” means ownership of or entitlement to more than (10) ten per cent. of shares or capital or profits of the company. For trust, beneficial interest means 10% or more. For partnership, unincorporated association or body of individuals, ownership more than 15% of capital or profits.

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