noun Owner of shares in a company whose name is not listed on the company's records
In real estate transactions, the beneficial owner is the individual who ultimately benefits from owning a property, even if the property is held in the name of a trust or corporation.
In the finance field, a beneficial owner refers to the individual who has the ultimate control or ownership of a financial asset, even if the asset is held in another name.
In legal contexts, a beneficial owner is the person who enjoys the benefits of ownership of a property or asset, even if the legal title is held by someone else.
For tax purposes, identifying the beneficial owner of assets is important for determining tax liability and reporting requirements.
In corporate governance, understanding who the beneficial owners are is crucial for transparency and accountability in decision-making processes.
In the financial industry, a writer may refer to the beneficial owner of a security in articles discussing ownership and investment strategies.
Psychologists may encounter the term beneficial owner when working with clients who are navigating complex financial arrangements or dealing with issues related to ownership and control of assets.
Accountants may need to determine the beneficial owner of certain assets or investments when preparing financial statements or conducting audits for their clients.
Lawyers may represent beneficial owners in legal matters related to ownership rights, inheritance, or disputes over control of assets.