Who is the ultimate beneficiary owner (UBO) of the company and how are they identified?

In all instances, the ultimate beneficiary owner of the company is defined as an individual who holds direct or indirect ownership or control over the company, with a significant stake in terms of shares or voting rights. Direct ownership is indicated by a shareholding of 25 percent plus one share or an ownership interest exceeding 25 percent in the customer, held by a natural person. An individual who exercises control over the company that owns 25 percent plus one share or ownership interest of more than 25 percent in the customer's shares is considered an indirect owner. In cases where it is impossible to identify private individuals, whose shareholding makes 25 percent plus one share, ownership interest of more than 25 percent in the customer, the natural person holding a senior managerial position shall be identified as the beneficiary owner, and a company executive.