1A beneficial owner is every individual who owns 25% or more of the company.
If there are no individuals who own 25% or more of the company, there are two options to determine effective control:
- Any individual who controls the company through their capacity to determine decisions about financial and operating policies (including but not limited to the CEO, Managing Director, CFO etc.); or
- Any individual who is entitled to exercise 25% or more the voting rights (including the power of veto).