Ultimate beneficial owners


MultiSafepay is legally required under the Wwft to establish and verify the identity of each merchant enterprise’s ultimate beneficial owners (UBOs).

About the Wwft

The Wet ter voorkoming van witwassen en financieren van terrorisme (WWFT), or Money Laundering and Terrorist Financing Prevention Act, prevents companies and individuals from laundering money or financing terrorist activity. It was based on the Disclosure of Unusual Transactions or Financial Services Act, but goes one step further. It focuses on both individuals involved in suspect transactions and the risk of such transactions.

For more information, contact your account manager or email the Risk Team at [email protected]

About UBOs

A UBO is a natural person who directly or indirectly holds an equity interest in or exercises control of the enterprise. Most commonly, an individual holds an equity interest of 25% or more of the shares or capital of the enterprise, or exercises:

  • 25% or more of the voting rights, or
  • De facto control over the affairs of the enterprise, or
  • Other special rights of 25% or more over the capital of the enterprise and specific control over, for example, rights granted in the pages of incorporation.
Multiple UBOs

If the enterprise consists of a number of (intermediate) holding companies, then the UBO(s) are all the individuals who, through various companies, have 25% or more control of the underlying enterprise.

No UBOs

Enterprises are not required to have a UBO. For example, if an enterprise has five owners with an equal distribution of capital and control, none of them owns 25% or more of the enterprise.

Example

The limited company Good Ltd has a sole shareholder: Better Ltd. The shares of Better Ltd are held equally by two other limited companies:

  • Anders Ltd. which has two equal shareholders: Mr A. Jansen and Ms B. Jansen - de Jong

  • Best Ltd. which has one sole shareholder: Ms D. Best

The three ultimate beneficial owners are therefore:

  • Mr A. Jansen
  • Ms B. Jansen - de Jong
  • Ms D. Best

UBO form

Provide the details of all UBOs in the Statement of ultimate beneficial owner form. Upload in your MultiSafepay account color copies of the identity documents of all UBOs.

Download the UBO form

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Other languages

For an explanation in another language, contact your account manager.