For Non-profit Organisations (NPOs) such as associations, foundations and charities, you can list individuals as Ultimate Beneficial Owners (UBOs) who meet any of the following criteria:
Directors holding more than 25% of voting rights
Individuals with veto power or the unilateral authority to appoint directors
Individuals holding more than a 25% ownership interest in the distribution of the organisation’s assets in the event of liquidation
Chairmen/chairwomen
Please note:
For associations and foundations classified as for-profit organisations, individuals holding more than a 25% ownership interest in the distribution of profits should also be included in the list of UBOs.