The Concept Of The Ultimate Beneficial Owner In The Legislation Of Ukraine

Abstract

The article deals with the concept of «ultimate beneficial owner (Controller)», which means the party that actually has the ability to exercise decisive influence on the management or business activities of a legal entity, directly or through others. It was established that the definition of the controlling person (s) in order to bring it (them) to account, if proven dishonesty, illegality of their actions while performing their duties that led to the inability of the legal entity responsible for its obligations, is quite effective way to protect the rights of creditors from unscrupulous debtors as a consequence of the final identification of the beneficial owner should be significantly simplified procedure for seizure of the property of such persons in the cases provided for in onodavstvi. Determined that subjects can control a corporate structure (controlling person) can be both direct owners, who created the corporation, but directors, shareholders and other participants that are able to determine the direction of the corporation and influence decision-making, thereby making control of the corporate structure.