UBO: What and why?
A UBO is the Ultimate Beneficial Owner of a company.
The ultimate beneficial owner (UBO) is:
- Anyone who controls the company or on whose behalf a transaction is carried out, including at least individuals who own more than 25% of the shares (directly or indirectly).
- If no one falls under the first category, the executive person or persons are considered the UBO.
The Payconiq Merchant contract must identify - in compliance with money laundering legislation and to avoid terrorist financing - all persons falling into one or both of the above categories. This means that for each person, their full details, including a copy of their proof of identity, must be provided.
For more information on identifying a UBO in your company, non-profit organisation or foundation, please see the UBO manual on the Federal Public Service Finance website.
Other FAQs
- Payconiq solution
- My Payconiq payouts
- Managing my merchant account
- Payconiq solutions for merchants
- Request a Merchant contract
- Get going with the Merchant Portal
- My Payconiq invoice
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About meal vouchers via Payconiq
- How do Payconiq meal vouchers work for customers?
- How can you activate or ask payments with meal vouchers via Payconiq?
- How is a ‘combined’ transaction involving meal vouchers and Payconiq paid out?
- Meal voucher payments are missing from my payment statement.
- How can I track my ‘combined’ meal vouchers and Payconiq transactions?
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Operating fee
- What is included in the yearly invoiced operating fee of 18 €?
- I have multiple Payconiq Merchant accounts (Merchant IDs) for my business. How can I merge these accounts?
- Who does the operating fee apply to?
- Does the operation fee still apply when no transaction has been made?
- Is VAT included in the annual operating fee invoice of € 18?
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