Avallone offers a range of special rights that allow you to set specific rules for identifying Ultimate Beneficial Owners (UBOs) according to your needs. This can be configured individually for each legal entity, providing granular control over UBO rules tailored to your specific use case.
Board of Directors
Board of Directors members - will be identified as a UBO if the entity is assigned as a self-owned organization when creating it or in the Details tab of the company.
Executive Management
Daily management / senior management - will be identified as a UBO if there is no other individuals holding more than 25% ownership or voting rights
Veto
Right to veto - will be identified as a UBO even if person does not have more than 25% ownership or voting rights
Change the board of directors
Right to select or replace the majority of the Board of Directors members - will be identified as a UBO even if person does not have more than 25% ownership or voting rights
Articles of association
Based on rights in the articles of association - will be identified as a UBO even if person does not have more than 25% ownership or voting rights
Ownership agreement
Based on rights in the Ownership agreement - will be identified as a UBO even if person does not have more than 25% ownership or voting rights
Pledge agreement
Based on rights in a Pledge agreement - will be identified as a UBO even if person does not have more than 25% ownership or voting rights
Other
Other reasons (write a description) - will be identified as a UBO even if person does not have more than 25% ownership or voting rights
Propagate UBO to subsidiaries
Special rights can be automatically applied to all subsidiaries of the company of interest by clicking on Propagate UBO to subsidiaries. This does not apply to the special rights Board of Directors or Executive Management.
Adding multiple special rights to one individual
You can add multiple special rights to the same individual. When this is the case the rest of the special rights take precedence over Executive Management and Board of Directors. For example, if you have an individual who has the special rights Executive Management and Veto, Avallone calculates the UBO status based on the Veto not Executive Management.