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Explanation note on who is the beneficial owner

Within the structure of companies, it is the ultimate individual who enjoys benefits of owning the company’s shares. In other words, it is an individual who enjoys the benefits of ownership even though title to the ownership is in another name. For example, there is an intermediary company in which name shares are issued. Even though the shares are issued in that company’s name, the true beneficial owner of the shares, for safety/convenience or privacy, is the individual. Also, any individual that either directly or indirectly has the power to vote or influence the decisions within the company through beneficial ownership of the shares, is the beneficial owner of that company.

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