The UBO check (only available for Dutch companies)
Find out the UBO (Ultimate Beneficial Owner), or the potential UBO, within minutes with the SCOPE CDD On Demand solution.
Within one minute you will receive a report that provides insight into the company structures and indicates a UBO or makes a prediction of the possible UBO.
How can SCOPE CDD On Demand help you find the UBO?
CDD On Demand offers an online platform in which the Chamber of Commerce registrations of your client can be requested. You enter a company name and the place of business, or the Chamber of Commerce number, and CDD On Demand finds out the (possible) UBO. Within one minute you get an overview of the company structure, in which the CDD On Demand solution indicates;
- which person (s) is the UBO.
- which person (s) the possible UBOs are.
- which person (s) can lead you to the UBO.
When you are in a meeting with a client, you can immediately verify the company structure with the help of CDD On Demand.
Enter a company name and/or place of business or Chamber of Commerce number.
The CDD On Demand solution obtains the company structures and contacts.
You will receive a (possible) UBO and company structure, which you can verify with your client.
Example of a UBO report of the CDD On Demand solution. The names and companies are fictional.
De Ultimate Beneficial Owner (UBO)
UBO stands for “Ultimate Beneficial Owner” and Dutch. An institution subject to the AMLD is obliged to find out the identity of the UBO. The reason that a UBO must be established is to prevent - unknowingly - doing business with natural persons who have malicious intentions (such as money laundering) and who want to hide behind a legal person.
There are several criteria on which a person is classified as an UBO. These criteria concern the holding of ultimate ownership or ultimate control of a legal entity through the holding of shares, voting rights, ownership interest or other means.
Once you have identified a UBO, it is important to screen the UBO. You must perform a compliance check to find out whether the UBO poses a higher risk of money laundering or financing of terrorism.
When is someone a UBO?
According to the Dutch tax authorities, a UBO is a natural person who:
- has an interest of more than 25% in the capital of the legal person;
- can exercise more than 25% of the voting rights in the general meeting;
- is a beneficiary of more than 25% of the assets of the legal person.
Sources for the UBO investigation
CDD On Demand's UBO check tries to find out who the UBO is of a company. The check automatically requests extracts from the Chamber of Commerce. These extracts are analyzed and the persons and companies involved are identified. When the structure is clear, an attempt is made to determine which person (or persons) is / are the UBOs.
The results of the research comprise natural persons and related companies.
This service is only available for Dutch companies. If the search leads to a company outside the Netherlands, an attempt is made to indicate a so-called ‘UBO connection’. This is the person most likely to know who the UBO is.