Who do we need to identify at your corporate entity? – Bitsafe

You are in a corporation or corporate entity if your business is a corporate entity that has one or more of the following characteristics:

a) the corporate entity is a legal entity of its own and/or

b) the corporate entity has issued shares and/or

c) the corporate entity pays corporate income tax.

We require to identify all ultimate beneficial owners ("UBO") to be identified.

An ultimate beneficial owner is the individual that could identify him/herself with one or more of the following:

The individual that has a direct or indirect capital interest of 10% or more in the business;
The individual that could exercise 10% of more of the votes at any general meeting held by the business;
The individual that effectively controls the business;
The individual that is the beneficiary of 10% or more of the capital of the business;
The individual that has extraordinary control of 10% or more of the capital of the business.

Next to the ultimate beneficial owner(s) we also identify one or more directors of the corporate entity.

Optionally, at at Bitsafe's discretion, Bitsafe also identifies certain staff members operating one or more Bitsafe accounts for the corporate entity.

Related articles