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:
holds, directly or indirectly, 25% or more of the company’s shares;
holds, directly or indirectly, 25% or more of the voting rights in the company; or
holds the right, directly or indirectly, to appoint or remove a majority of the board of directors of the company.