Ultimate beneficial owner (UBO)
An individual who owns 25% or more of a company, either directly or indirectly through other companies. Indirect ownership is calculated by multiplying through each level. For example, if Jane owns 100% of Company B and Company B owns 60% of Company A, Jane indirectly owns 60% of Company A and is a UBO. When someone owns shares through more than one path, every path is added together. If Jane owns 15% of Company A directly and another 15% through Company B, her total is 30% and she's a UBO, even though neither holding reaches 25% on its own.
How ownership is calculated
Ownership is based on the number of shares held, as recorded by ASIC, not the value of those shares or any voting or control rights attached to them. Percentages are rounded to 2 decimal places.
Share ownership isn't the same as control. Under the AML/CTF Act, a beneficial owner can also be someone who controls a company without owning shares, for example through a trust or an agreement. Officeholders such as directors are listed in every check to help you consider control.
Beneficially held
Shares the shareholder owns for their own benefit. This is the usual case for an individual or company holding shares in their own name.
Non-beneficially held
Shares the shareholder holds on behalf of someone else. Common examples are:
a trustee holding shares for the beneficiaries of a trust, such as a family trust or self-managed super fund
a nominee holding shares on behalf of another person ASIC records show that shares are held non-beneficially, but not who they're held for. That's why non-beneficial holdings often end up as blocking entities.
Blocking entity
A shareholder that owns 25% or more, where an individual owner couldn't be identified from ASIC records. Common blocking reasons include:
Blocking reason | What it means | What you can do |
|---|---|---|
Non-beneficial organisation | The company holds its shares on behalf of someone else, usually as a trustee. | Request the trust deed or nominee arrangement to identify the beneficiaries. |
Country not supported | The shareholder is a foreign company outside ASIC records. | Request ownership information for the foreign company, or use the ultimate holding company listed under officeholders. |
No shareholders found | No shareholders are recorded for the shareholder company. | Ask the customer for details of the company's ownership. |
Other owners
Shareholders that own less than 25%. They're shown for completeness but aren't UBOs.
Joint holding
Shares held together by more than one person, for example a husband and wife. Each joint holder is treated as if they own the whole holding, so that no beneficial owner is missed. As a result, ownership percentages can add up to more than 100%. If two people jointly hold 100% of a company, both are identified as 100% UBOs.
Linked company
A company that sits between the company you checked and its ultimate owners, for example a holding company or corporate trustee. Linked Australian companies are investigated automatically and saved as associated checks.
Ultimate holding company
The company at the top of a corporate group, as recorded by ASIC. It's usually listed under officeholders for subsidiaries of large or overseas groups.