A company is a self-owned institution, and the members of the board of directors should be considered as UBO - the subsidiary of a self-governed institution.
In this case, the company of interest is a subsidiary of a self-governed institution. The board of directors members from the self-governed institution will be considered as UBO based on the ownership and voting right between the self-governed institution and the company of interest.
In the below example:
- There are four board members who are considered as UBOs
- Since the ownership and voting right between the companies is 75 %, the board members will also be UBOs with 75 % in the company of interest
This is how the ownership and control structure is created.
The UBO status is calculated based on the registration of UBOs in the self-governed institution.
In the UBO tab (Ultimate Beneficial Ownership), you can see all officers defined as UBO.
The reason for UBO status is ownership and voting rights and the board of directors special right.