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Beneficial Ownership and determining thresholds of ownership
Beneficial Ownership and determining thresholds of ownership
Maria Vargatu avatar
Written by Maria Vargatu
Updated over a week ago

The FATF (Guidance on Transparency and Beneficial Ownership) has defined beneficial ownership as being a natural person(s) who ultimately either:

Beneficial Owner(s) are defined as:

1) owns or controls a customer;

2) and/or the natural person on whose behalf a transaction is being conducted. It also includes those persons who exercise ultimate effective control over a legal person or arrangement.

Threshold for Simplified Due Diligence - This threshold for beneficial ownership is set at 25% or more for these type of entities or Jurisdictions

Threshold for Enhanced Due Diligence - This threshold for beneficial ownership is set at 10% or more for these type of entities or Jurisdictions

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