An Ultimate Beneficial Owner (UBO) is a person who stands behind a legal entity, such as a company, and actually has beneficial ownership of the company. In many countries, there are legal rules that determine who is considered the UBO of a company.
Influence of an Ultimate Beneficial Owner
A UBO’s influence over a company depends on several factors, such as the type of company, the size and structure of the company, and the roles and responsibilities within the company. In general, however, a UBO has an important role in the management and governance of the business, helping to influence the direction and success of the company.
In some cases, a UBO may also be directly involved in the decision-making of the company, for example, by exercising the power to vote at general meetings or by appointing members of the board of directors. In other cases, however, the Ultimate Beneficial Owner may have only a passive role, supporting the company by providing funding or other resources without being involved in the day-to-day management of the company.
Public information about the UBO
It is often required by law that companies disclose their UBOs to increase transparency and ensure compliance with anti-money laundering laws.
Generally, information about a company’s UBO can be found in publicly available business registries. These registers are maintained by the respective governments or regulatory authorities and contain information about the owners and controllers of companies. The exact conditions under which one can access these registers may vary by country and region. It may be helpful to contact the relevant regulatory authority for more information.
In Germany, for example, information about a UBO can be accessed via the portal https://www.unternehmensregister.de.
Integrate UBOs easily via APIs
You can seamlessly integrate systems, databases and services via the Marini Integration Platform. Even detailed information on companies and beneficial owners can be easily and quickly integrated into your systems via Marini.
With Marini you can easily integrate information about UBOs from corresponding databases via APIs into your systems (e.g. CRM, ERP, MDM, MDG). Thus, the UBO data is automatically imported into your systems and kept up to date.