What is a beneficial owner?

Beneficial owner

Alex avatar
Written by Alex
Updated over a week ago

The term “beneficial owner” refers to the person to whom the deposited assets (used in the business relationship with Bity) can be economically ascribed.

If you are the sole beneficial owner, you will just need to click on "Yes".

If you are NOT the beneficial owner of the assets (you use somebody else's funds), you have to declare that person(s) as the beneficial owner(s) of the assets involved in the business relationship.

You will need to fill all the details of the person(s) and will need to upload the ID document of all beneficiaries declared


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