When opening your Finom Business Account, once you have entered your business details, you will be asked to add the information about owners and UBOs.

What is a UBO?

The UBO, or Ultimate Beneficial Owner, refers to any natural person who ultimately owns more than 25% of the company's shares, and the person on whose behalf a transaction is being conducted.

To open a Business Account with Finom you have to be the legal representative of the company. It is important to note that the legal representative and UBO may be the same person (in this case, you). If not, it is important to specify all names of those involved, including their personal information.

For SMEs, in most cases the UBOs are the co-founders of the company.

You can find all the details about the UBO in the statement of your company.