A beneficial owner is defined as a physical person “who directly or indirectly owns or controls a sufficient part of the shares or the voting rights, or who practices control through other means.”. If a company is owned by another company (e.g. a holding company), it is the physical person(s) who ultimately own(s) the company who shall be registered as beneficial owner(s). Identifying Ultimate Beneficial Ownership (UBO) can be challenging due to complex and opaque ownership structures. But Prop...