Ultimate Beneficial Owner
/ˈʌltɪmət bɛnɪˈfɪʃəl ˈoʊnər/
Definitions
- (n.) The natural person who ultimately owns or controls a legal entity or arrangement, or on whose behalf a transaction is conducted.
The bank conducted due diligence to identify the ultimate beneficial owner of the corporation.
Forms
- ultimate beneficial owner
- ultimate beneficial owners
Related terms
See also
Commentary
Identification of the ultimate beneficial owner is critical in regulatory and compliance contexts to prevent fraud and money laundering.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.