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What does control mean in the context of identifying an Ultimate Beneficial Owner?

Updated over 2 years ago

When you are identifying the Ultimate Beneficial Owner of a company, one of the tests is to assess who "controls" the company. In this context, control means a person who:

  1. holds, directly or indirectly, 25% or more of the company’s shares;

  2. holds, directly or indirectly, 25% or more of the voting rights in the company; or

  3. holds the right, directly or indirectly, to appoint or remove a majority of the board of directors of the company.

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