Beneficial Owners

The exact rules vary by country, but beneficial owners can include one or both of the following types of individuals:

• Owner: any individual who owns a significant percentage of your company (often 25% or more)

• Executive (sometimes referred to as a “controller”): any individual who exercises significant control over your company.

  • Individuals considered to “exercise significant control” over your company are those responsible for managing and directing the business and may include executive officers or senior managers, such as CEO, CFO, COO, Managing Member, General Partner, President, Vice President, or Treasurer.

Directors

Similar to beneficial owners, the definition of a director varies by country, but typically includes individuals who are:

• Members of the governing board of your company, and/or

• Responsible for ensuring the company meets its regulatory obligations.

Additional Information

• If your company is owned by a legal entity instead of an individual, find out what to collect for them.