Beneficial Owners and Company Compliance Requirements

Who is a “Beneficial owner”?

The Companies Act Cap 212 defines a “beneficial owner” as a natural person: –

  • who directly or indirectly ultimately owns or exercises substantial control over an entity or an arrangement;
  • who has a substantial economic interest in or receives substantial economic benefit from an entity or an arrangement directly or indirectly whether acting alone or together with other persons;
  • on whose behalf an arrangement is conducted; or
  • who exercises significant control or influence over a person or arrangement.

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