In domestic and international commercial law, a beneficial owner is a natural person who ultimately owns or has a controlling interest in a legal entity or arrangement, such as a company, a trust, or a foundation.
The beneficial owner exercises a controlling influence over the company using Surfpay. If any of the following is true, you are deemed to be the beneficial owner:
- You control more than 25 percent of the total number of votes in the legal entity.
- You have the right to appoint or remove more than half of the directors or equivalent officers of the legal entity.
- By virtue of an agreement with the owner, a member or the legal entity, a provision in the articles of association, memorandum of association or similar documents, you are able to exercise control within the meaning of 1 or 2.