A company without any UBO based on ownership and voting rights in a parent company
In this case, the company’s CEO will be the UBO since there are no UBOs based on ownership and control structure.
In the below example:
- There are five owners in which each is the owner of 20 % of the company
- The CEO is the UBO since there are no beneficial owners who have more than 25 % of the ownership or voting rights
This is how the ownership and control structure is created
The CEO is created with a special right called “Executive Management” as a part of the “ownership and/or voting rights” feature.
This “special right” can be used for all relevant executive managers if they should be considered as UBO if there is no UBO based on ownership and voting rights.
The special right will only come into force if there is no UBO based on ownership and voting rights.
In the UBO tab (Ultimate Beneficial Ownership), you can see all the officers defined as UBO.
The reason for UBO status, in this case, is the special right Executive management.