UBO Verify will search for beneficial ownership of natural people through companies associated with the root company. Several layers of a company structure may need to be unwrapped before a UBO is found, data charges apply per entity.
There are several configurations available to users of UBO Verify, to ensure a flexible service that meets the needs of different use cases.
Max Credit Charge: Users can set a maximum credit charge which can cap the amount of data that can be retrieved and how much of a company ownership structure is unwrapped.
Max credit cost aims to give more control over how much a UBO check will cost initially, this applies to the recursive unwrapping fee for every successful match to a company in the ownership chain as well as enhanced profile data charges. Each jurisdiction is different so this needs to be set appropriately.
- Users can set the values between 1 and above.
- This is a required field *.
Max Layers: Max layers is a cost control method in which the user can set how many layers they would like to explore in an ownership tree; layer 1 and layer 2 make up the root and the initial shareholding company structure. Any subsequent levels of the tree can be restricted in which the results will return a reason for non-continuation on additional branches that exceed the maximum layers set. There is a fixed cost of 2 credits per successful unwrap; if unwrap fails there is no unwrap fee.
- Users can set the values between 3 and above.
- This is an optional field.
- Default: no maximum
UBO Threshold: Users can set a specific threshold of UBO which corresponds to their own compliance framework, or national legal requirements. This definition will be used by UBO Verify to determine whether an individual appears as an ultimate beneficial owner in the report created. By default, the threshold is set to 25% but can be adjusted to between 0% - 100%. This is an optional field.