Persons who have over 25% of the voting rights in the organisation can be designated UBOs. It concerns voting rights for statutory amendments, if the articles of association allow it. Make a note of the percentage of the UBOs’ voting rights:
- over 25%, and less than or equal to 50%
- over 50%, and less than or equal to 75%
- over 75%, and less than or equal to 100%
Foundation Q has 3 directors, each of whom has one vote, which is 33.3% of the votes. These directors may - on the basis of the articles of association - decide to amend the articles of association. In this example, all 3 directors are UBOs.
Foundation K has 3 directors: A, B, and C. Director A may cast 4 votes. Director B and C may both cast 1 vote. Director A is a UBO in this example, because they have voting rights for 4 out of 6 votes (66.6%). B and C both have voting rights for only 16% of the votes, and are therefore not UBOs in this example.
A foundation has 4 directors; each director has 1 vote. That means that each director has voting rights for 25% of the votes. None of the directors in this example is a UBO on the basis of voting rights, because none of them has voting rights for more than 25%.
Example of document to include if this stake applies
Deed of investiture (containing the article on amendment of the articles of association), articles of association (containing the article on amendment of the articles of association).