Your UBO details
Keep your details up to date
UBOs (Ultimate Beneficial Owners, or in Dutch: Uiteindelijk Belanghebbenden) are the ultimate beneficiaries of an organisation. In other words, the persons who own or have control over a business or organisation. It is important that the UBO details of your organisation are always complete and up to date. That is why we ask you to provide a UBO declaration every once in a while. Why is this so important? And how can you determine who the UBOs are in your organisation? We are happy to explain that to you.
Who is a UBO?
A UBO (Ultimate Beneficial Owner, or in Dutch: Uiteindelijk Belanghebbende) is a person who holds an (in)direct interest in an organisation. This is the case if this person:
- owns more than 25% or the organisation
- has more than 25% of the voting rights in the organisation
- has de facto control of the organisation (for instance a former owner who is still involved in day-to-day business, or a board member of an association or foundation)
Does no one in your organisation meet any of the above descriptions? Then all the board members in your organisation are a UBO. These are the directors listed in the articles of association or registered with the Chamber of Commerce (KVK).
Read more about determining who the UBOs are in your organisation.
Why we need your UBO declaration
The law requires us to record your business details, and to make sure that these details are correct and up to date. If we don’t do that, we are not allowed to do business with you. Your UBO declaration is part of this requirement. That is why we ask you to check the UBO details that we have of your organisation. We also ask you to change or update them, if necessary.
Frequently asked questions about the UBO declaration
When is someone a UBO?
UBO stands for ‘Ultimate Beneficial Owner.’ This is a natural person who holds a direct or indirect interest in an organisation. This is the case if this person:
- owns more than 25% or the organisation
The person owns more than 25% of the shares or deposits. Or the person has a right to more than 25% of the proceeds or assets of the organisation.
- has more than 25% of the voting rights in the organisation
Apart from voting rights, this can also include the power to appoint or dismiss the board. But also, the power to change a partnership of a corporation. It can also be a person who (co-)finances the organisation.
- has de facto control of the organisation
This person cannot be categorised in the groups mentioned above. However, they do (co)determine the policy of the organisation. This could, for example, be the former owner of a family business. Or a board member of an association or foundation.
Does no one in your organisation meet any of the above descriptions? Then all the board members in your organisation are a UBO. These are the directors listed in the articles of association or registered with the Chamber of Commerce (KVK).
Having trouble determining who the UBOs are in your organisation? Then take a look at our page about UBO examples for various legal forms. Or ask your accountant or bookkeeper for advice.
Why do I need to provide my UBO declaration?
The law requires us to record your business details, and to make sure that these details are correct and up to date. If we don’t do that, we are not allowed to do business with you. Your UBO details are part of this requirement. We may collect part of your UBO details from the Chamber of Commerce (in Dutch: Kamer van Koophandel or KVK), but not all details. That is why we ask you to provide a UBO declaration every once in a while. Before you submit the UBO declaration, please check the UBO details that are already filled in and change or update them if necessary.
Requesting a UBO declaration is part of our Know Your Client investigation. This ongoing client research is conducted by all banks and other financial institutions in the Netherlands. You will find more information on this page.
When should I submit my UBO declaration?
Every once in a while, we will ask you to check and update your UBO information. You will receive a letter from us when it is time for you to do so. In this letter, we explain the steps you need to take. We will also send you a message in your secure environment, so in the ABN AMRO app or in Internet Banking. If your e-mail address is in our records, we will also send you an e-mail.
Did you not receive a request from us? Then you cannot submit your UBO declaration yet.
What information do I need to fill in the UBO declaration?
To fill in the UBO declaration, you need the (personal) data of the UBOs. Is your organisation part of a holding company structure? Then you will also be asked questions about that. Part of the UBO declaration will be pre-filled by us. We ask you check these details and to change or update them if necessary.
Among other things, we need to know the following about the UBO’s:
- date of birth
- name as stated in the passport or driving license
- country of residence
Information about your UBO’s can be found in:
- the extract from the Trade Register or UBO register of the Chamber of Commerce (KVK)
- the certificate of incorporation
- the articles of association
- the management declaration
About intermediary organisations, we need to know the following:
- KVK number or foreign registration number
- name of the organisation
- legal form
Having trouble determining who the UBOs are in your organisation? Then take a look at our page about various UBO examples for different legal forms. Or ask your accountant or bookkeeper for advice.