@Yahweh - Thanks for the comment. Yes we agree with the same, many countries are adopting that format, although they would still need the underline evidence.
@kandi Snigdha - Thanks for the suggestion, that would be a great topic to cover - it should a summary video of all the different sanction regulatory bodies or at least the main ones and other video of the overall ML/TF regulatory bodies. 👍
thanks for the clear presentation. Is there any change in BO related procedure since last 2 years? espcially from the FATF? Happy to take ur points. thanks
@iwannaquit6200 thanks for the comment/question. Hard to tell without the details of the company on how ita been setup. The best place to start if its a large corporation is the annual report or share register, from there you can gain a better idea of the setup. They dont always have a Trust Deed.
There is a business opportunity in mauritius where i can get a financing.a huge sum but the business has a very good profit i want to buy this business .what i have to do .? Thank you
@nilkumarramnarain3560 thank you for the comment. Withoit the full detail it is hard and not responsible to advice what decision to make. I would recommend to speak to a local legal advisor who would have more knowledge of the local way of raising funds for a business.
@ZuruckEQ Thanks for the comment. Beneficial Owner can be any shareholder however doesnt have significant control of the entity or a company with the ownership structure. Whereas the Ultimate Beneficial Owner will hold significant equity within the company and will therefore be considered a decision maker. In the case of big companies with no shareholders holding a siginificant share the day to day person in charge will be considered the Ultimate Beneficial Owner. Hope the above helps 👍
@@KYCLookup Wow thanks for the swift response that was really helpful! Another question, if Person A and Person B each has 13% shares in a company and everyone else has less than 13%, and lets say that in order to be the UBO of this company, the person needs to hold at least 25%, therefore in this case, there will be no UBO but what if Person A and Person B are family, then together they have 26%, does that make them the UBO because as far as I know, a beneficial owner can only be a natural person.
@@zuruckEQ No problem. Part of the 2021 resolutions to answer comments are quick as possible. ;) In the scenario raised above you would have to see the exact relation between Person A and B. Is it husband and wife, brothers. Father and son. Based on the details provided i would see them as the UBOs, as the only shareholders with the majority %. They may have have a role in the running of the business like CEO, CFO, board members etc which would confirm the positions of UBOs. 👍
This makes no sense to me - how can someone own a customer? "the term beneficial owner means one or more natural persons who ultimately own or control a customer or the natural person or persons on whose behalf a transaction is being conducted and includes those natural persons who exercise ultimate effective control over a legal person or a legal arrangement."
Please do some kind of videos regarding Trust, Charity, and Foundations. Thank you.
Good suggestion... 👍
Customer self declaration is used in our country to establish the benifical owner
@Yahweh - Thanks for the comment. Yes we agree with the same, many countries are adopting that format, although they would still need the underline evidence.
Please do a video on what is FATCA,FINCEN , OFAC and who all are considered regulatory bodies .
@kandi Snigdha - Thanks for the suggestion, that would be a great topic to cover - it should a summary video of all the different sanction regulatory bodies or at least the main ones and other video of the overall ML/TF regulatory bodies. 👍
Great job 👍
❤
Thank you
@Nadeem Abbas Thank you for the support and for the comment. Hope you enjoy our other videos too 👍👍👍
thanks for the clear presentation. Is there any change in BO related procedure since last 2 years? espcially from the FATF? Happy to take ur points. thanks
Thanks for the comment, yes there has been some enhancements to the UBO definition, would be good to release a new video on that.
Great Initiative 👍 From Great Britain 🇬🇧
@Mayur Murudkar thanks for the comment, Yes, totally made in the UK :)
Thank youuu ❤️❤️
@dee dee - no thank you for the comment and the Hearts!! ;) 😀
Is a trust deed the document most would use if a family is collectively the beneficial owners of a large corporation?
@iwannaquit6200 thanks for the comment/question. Hard to tell without the details of the company on how ita been setup. The best place to start if its a large corporation is the annual report or share register, from there you can gain a better idea of the setup. They dont always have a Trust Deed.
Could you explain the FATF recommendations.
@Ankit Srvastava Thanks for the comment. Thats a great suggestion and one which we had in the pipeline. 👍👍
Good video. Is there any video on fallback beneficial owners?
@Aparna Dey Thank you for the comment.
great video
@niel Roy Great!! We are glad you enjoyed it. New Video this Thursday on Shell Companies 👍
Can you please do video on wealth management
@Srinikhitha Mali Thank you for the support and comment. Very good suggestion 👍
There is a business opportunity in mauritius where i can get a financing.a huge sum but the business has a very good profit i want to buy this business .what i have to do .? Thank you
@nilkumarramnarain3560 thank you for the comment. Withoit the full detail it is hard and not responsible to advice what decision to make. I would recommend to speak to a local legal advisor who would have more knowledge of the local way of raising funds for a business.
Please upload more videos
@UA-cam Channel Thanks for asking. NEW Video being released tomorrow. 👍
Regulation rules please make a video
@puskar Ghosh Thanks for the suggestion. Thats a good one.
What is the difference between beneficial owner and ultimate beneficial owner?
@ZuruckEQ Thanks for the comment. Beneficial Owner can be any shareholder however doesnt have significant control of the entity or a company with the ownership structure.
Whereas the Ultimate Beneficial Owner will hold significant equity within the company and will therefore be considered a decision maker. In the case of big companies with no shareholders holding a siginificant share the day to day person in charge will be considered the Ultimate Beneficial Owner.
Hope the above helps 👍
@@KYCLookup Wow thanks for the swift response that was really helpful!
Another question, if Person A and Person B each has 13% shares in a company and everyone else has less than 13%, and lets say that in order to be the UBO of this company, the person needs to hold at least 25%, therefore in this case, there will be no UBO but what if Person A and Person B are family, then together they have 26%, does that make them the UBO because as far as I know, a beneficial owner can only be a natural person.
@@zuruckEQ No problem. Part of the 2021 resolutions to answer comments are quick as possible. ;)
In the scenario raised above you would have to see the exact relation between Person A and B. Is it husband and wife, brothers. Father and son. Based on the details provided i would see them as the UBOs, as the only shareholders with the majority %. They may have have a role in the running of the business like CEO, CFO, board members etc which would confirm the positions of UBOs.
👍
@@KYCLookup Thank you so much!! :)
@@zuruckEQ Your welcome. 👍
ADD SUBTITLE TO THE VIDEOS......IT WOULD BE MORE BENEFICIAL FOR US
@Haidar Khan Thanks for the comment. What language subtitles would help you??
English, Tamil
English
Hello. Please do tax return, APS, and fillings
Thanks for the suggestion.
This makes no sense to me - how can someone own a customer? "the term beneficial owner means one or more natural persons who ultimately own or control a customer or the natural person or persons on whose behalf a transaction is being conducted and includes those natural persons who exercise ultimate effective control over a legal person or a legal arrangement."
Customer is a company or entity.
@@Chelleyshall thank you
thanks for the contribution, hope you are still enjoying our videos
Please do a video on how to trace for footprint of dirty money in the financial system (general is ok)
Thanks
@Long Q Nguyen thanks for the comment and suggestion
Can u please explain one of the live project
thank you for the comment, can you please elaborate on what you mean
It's means all its my control, but Malaysia politic always block all income
Thanks for the comment