During the KYC (Know Your Customer) verification process of your account you are required to provide a diagram of your company's shareholder structure. Identifying ultimate beneficial ownership (UBO) is an essential component of the client KYC onboarding process and required by financial regulators.

Ownership of an entity can be either direct, where the shares/units/percentage holding is directly held by the parent person or entity, or indirect, where the shares/units/percentage holding is through additional entity(ies).

A UBO must always refer to a natural human. A UBO has to be a person and cannot be a legal entity, and follows the ownership chain upwards till all persons having the ownership have been identified.

Example: