Ultimate Beneficial Owner (UBO)

Tax Glossary Definition

Ultimate Beneficial Owner (UBO)

 The Ultimate Beneficial Owner is the individual who ultimately owns or controls an entity, directly or indirectly, even if ownership is exercised through layers of intermediaries or subsidiaries. Identifying UBOs is important for regulatory compliance, anti-money laundering (AML), and tax reporting.

Example: An NRI shareholder who indirectly owns multiple subsidiaries through a holding company is considered the UBO of those entities.

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