The U.B.O. (Ultimate Beneficial Owner)
By providing a (postal) address as a gatekeeper under the Law for the Prevention of Money Laundering and Financing of Terrorism (WWFT), PriPost has an obligation to identify the Ultimate Beneficial Owner (UBO) of our business customers.
This UBO statement can easily be completed digitally in the online customer portal.
Do you have any questions about this? Please contact us and we will be happy to help you!
In certain specific cases, a person or persons belonging to the senior management staff may be listed as UBO(s) (the ‘Pseudo-UBO’). For example, if there is no UBO on the basis of shares, voting rights or ownership. This also applies to listed companies. This arrangement guarantees that a UBO can be registered for every legal entity. The designation of the senior management staff is a last resort option and can only be done after exhaustion of all possible means of identifying the UBO and provided that there are no grounds for suspicion, or if there is any doubt as to whether the UBO is indeed the ultimate owner or has control.
For the purposes of the concept, ‘senior management staff’ must mean the statutory management of the client.
Each UBO statement is made for one company. In case you have several companies, a UBO statement will have to be drawn up for each company, regardless of the number of Postboxes. If you have multiple Postboxes for one company, only one UBO statement needs to be provided.
Do you have the legal form private company, limited partnership, limited company or partnership?
Then we ask you in the UBO statement to fill in one or more Ultimate Beneficial Owner(s) (LYOs) with an interest of 25%.
Do you have the legal form association, foundation or church society?
Then we ask you to fill in the director(s) in the UBO statement.
Do you have a sole proprietorship, are you a natural person or don’t you have a UBO with an interest of 25% or more?
Then only step 1 (the company data) and the signing of the UBO declaration is sufficient.
No, this is completely unrelated to that. The UBO statement is a document that is only used by us and has nothing to do with the UBO registry. You will therefore not be included in the Register of the KvK by completing the UBO declaration.
Yes, unfortunately you do. We understand that in a sole proprietorship, the entrepreneur himself is of course always the UBO. However, it happens regularly that sole proprietorships grow into, for example, a private company.
By filling in the UBO statement, we place the responsibility on you as an entrepreneur to inform us when your business (legal entity) changes. This is on the one hand to prevent us from being fined, because your legal identity has changed but our administration is not aware of it. On the other hand, to keep the administrative burden as low as possible, otherwise we would have to periodically ask all our business customers to update the UBO statement again.
It is irrelevant for the law where a company is located. A UBO certificate should also be provided by companies established abroad.
If we do not receive the UBO statement from you, we will not be able to carry out the mandatory check. This may mean that we cannot process mail for you because your Postbox is still on STANDBY. Of course we would prefer not to do that. That is why it is important that you fill in the UBO statement correctly and upload it as quickly as possible via the customer portal.
Actually nothing at all… We only need to check and store it so that we comply with the legislation.
Because we grant domicile (which includes postal addresses), we are obliged to ask you to do so. But the UBO statement is actually intended for financial institutions, which we are not. However, the government has also placed this administrative burden on us, which means that we are obliged to request this from our customers.
- UBO stands for Ultimate Beneficial Owner.
- A UBO is a natural person who holds at least 25% shares or can exercise control in the non-listed legal entity.
- Or is he who is a beneficiary or has special control of 25% or more of the assets of the foundation or trust.