What is a UBO (Ultimate Beneficial Owner) and why does Juuli ask for it?
A UBO is the real person — or people — who ultimately own or control a business. Here's what it means and why it's a legal requirement.
What is a UBO?
UBO stands for Ultimate Beneficial Owner. It refers to any individual who directly or indirectly owns or controls 25% or more of a company's shares or voting rights — or who otherwise exercises significant control over the business. For most small businesses, the UBO is simply the founder or owner.
Why does Juuli ask for UBO information?
EU anti-money laundering (AML) law requires all regulated financial institutions to identify and verify the real people behind the businesses they serve. This applies to every regulated payment account in the EU/EEA. The purpose is to prevent the misuse of corporate structures to conceal the true ownership of funds.
What UBO information do I need to provide?
- Full legal name of each UBO
- Date of birth
- Country of residence
- Percentage of ownership or nature of control
- Valid government-issued ID for each UBO
What if the UBO is the same person as the account holder?
That's the most common scenario for small businesses. In this case, your KYC documents (already submitted) cover the UBO requirement — you just need to confirm your ownership percentage.
What if there are multiple UBOs?
Each UBO with 25%+ ownership must be individually identified and verified. You'll be prompted to add each one during the KYB process.
Still have questions? Email our support team at support@juuli.com — we'll guide you through the UBO process for your specific business structure.