The term UBO or beneficial owner refers to the natural person(s) who ultimately own(s) or control(s) an entity. Different categories of UBOs exist depending on the type of control they have, the role of the person concerned and the type of the entity concerned.

A "direct" UBO is a natural person who owns or controls the party responsible for providing information without going through one or more other entities or legal structures.

A UBO is identified as “indirect” when it owns or controls the party responsible for providing information through one or several entities or legal structures.

• First category: The natural person(s) who directly or indirectly hold(s) a sufficient percentage of the voting rights or a sufficient shareholding in the capital of the company. The shareholding by a natural person of more than 25% of the voting rights or more than 25% of the shares or capital of the company is an indication of a sufficient but not necessary percentage of voting rights or sufficient direct holding. This means that a person may be registered under the first category even if they hold less than 25% of the capital or voting rights.
• Second category: Natural person(s) who control(s) the company by other means (e.g. right to appoint or revoke main directors, veto right, etc.);
• Third category: If none of the persons referred to in the two points above has been identified, or if there is any doubt as to whether the identified person or persons are the beneficial owners, the UBO will be the natural person or persons holding the position of main director.

Categories 1 and 2 are cumulative.

• First category: The persons who are member of the Board of Directors; 
• Second category: The persons who are authorised to represent them; 
• Third category: The persons tasked with day-to-day management;  
• Fourth category: The founders (only for foundations);  
• Fifth category: The category of natural persons in whose primary interest the (international) non-profit association or foundation was established or operates. An example is a (international) non-profit organisation whose purpose is the support of war victims (the beneficiaries are, for example, war victims). 
• Sixth category: Any other natural person exercising control over the party responsible for providing information by other means. 

The categories of UBOs of aforementioned (international) non-profit associations and foundations are cumulative.  

• First category: The settlor(s); 
• Second category: The trustee(s); 
• Third category: Any protectors; 
• Fourth category: The category of natural persons in whose primary interest the trust was established or operates. 
• Fifth category: Any other natural person exercising ultimate control pursuant to the fact they have direct or indirect ownership or by other means.

The categories of UBOs of trusts as well as aforementioned similar legal structures are cumulative. These parties responsible for providing information must therefore mention all persons who are considered as UBOs, as well as all categories to which they belong.

The bare owner will be registered as a UBO of the first  category if they own a sufficient percentage of the company's shares (i.e. possession of a sufficient percentage of the shares). The usufructuary will be registered as a UBO of first category if they own or hold a sufficient percentage of the voting rights related to the securities representing the capital (i.e. possession of a sufficient percentage of the shares).

Please indicate in the field “Remarque” that the person concerned is the usufructuary of the securities held by the bare owner.

The legal representatives of the parties responsible for providing information are obliged to attach, when registering UBOs, any document showing that the information relating to their identity (if they do not have a Belgian national number) and the nature and scope of their control is adequate, accurate and current. 

Such documents may be, depending on the case, an extract from the register of shares, the articles of association of the entity or legal structure, a shareholder agreement, the minutes of a general meeting, a notarial deed, an extract from a foreign trade register, or any other document that demonstrates the adequacy, accuracy and up-do-date nature of the information provided about the registered beneficial owners.

Reporting entities and members of the general public do not have access to supporting documents.

In case of infringement of the provisions on the identification and disclosure of information on beneficial owners, administrative fines between 250 and 50,000 Euro can be imposed.

Prior to the imposition of a fine, a remind letter is sent to the home address of the legal representatives inviting them to be heard within 30 days of receipt of the letter. Following the examination of the defences of the entity concerned or in the absence of a request to be heard, a fine may be sent to the home of the legal representatives because of the infringement of the UBO legislation.

The legal deadline for registering UBOs is one month as from the incorporation of the entity or any change in your UBO information. 

The UBO information must also be confirmed annually.

If you wish to register the beneficial owners of your entity, you should log in as an enterprise.

If you wish to consult the UBO register as a member of the general public, without registering beneficial owners, you should log in in your own name.

Check that you are listed as a function holder at the Crossroads Bank for Enterprises, via the following URL link.

If not, you should update this information at the CBE by sending an email to kbo-bce-functions@economie.fgov.be.

If you are listed as a function holder at the CBE, check that you have logged in on behalf of an enterprise. If you are still unable to log in to the UBO register for your entity, please contact the UBO team at: ubobelgium@minfin.fed.be

If a UBO is a foreign citizen, the entity of which it is a UBO is required to complete the register in the same way as if the beneficial owner were a Belgian citizen.

The unique identification number issued by the country to which the UBO belongs must be mentioned at the time of registration, as well as the nationality and country of residence. If the data is not in the national BIS register or at the CBE, it should be recorded manually by the party responsible for providing information.

If you are the legal representative of an entity and you have a Belgian national register number, you can give a mandate to a third party via the "Mandats" application in order to fill in the UBO register for you.

If you are the legal representative of an entity but you do not have a Belgian national register number and you cannot obtain a Belgian means of identification, you can fill in the paper form available here to grant a mandate to a third party, and send it to the e-mail address mandats.ict@minfin.fed.be

The UBO Royal Decree requires entities to confirm the accuracy of their UBO information annually. If the information on your beneficial owners has not changed, you do not have to re-register it, but simply confirm it at the latest one year as from the date of the last change.