Why is there a UBO register?
The UBO register (Ultimate Beneficial Owner register) is intended to provide clarity about who ultimately owns or controls an organization. This ensures transparency and helps with compliance with legal obligations.
Why does Pay. ask for this document?
As a payment service provider, Pay. is legally required to verify who the ultimate beneficial owners (UBOs) of an organization are. This is part of the identification and verification processes stemming from the Anti-Money Laundering and Anti-Terrorist Financing Act (Wwft).
Pay does not have direct access to the Chamber of Commerce's UBO register. That's why we ask you to provide an official extract of your organization's UBO register. This helps us comply with our legal obligations and ensures your account can be used safely and correctly.
What is this document?
This document contains information about who the UBOs are within your organization. It provides insight into who directly or indirectly holds a significant interest, such as shares or voting rights. This information is legally recorded and can be requested from the Chamber of Commerce (KvK).
Where can you request this?
You can easily order an official extract of your organization's UBO register via the KvK website:
https://www.kvk.nl/producten-bestellen/kvk-uittreksel-ubo-register/
What does a UBO register look like?
In the image below you can see an example of a correct document:
