The
person,
or entity, that ultimately owns or controls a
U.S.
affiliate of a foreign company and that derives the benefits
associated with ownership or control. The UBO of a U.S. affiliate is
that person, or entity, proceeding up the affiliate’s ownership
chain beginning with the
foreign
parent, that is not owned more than 50 percent by another
person, or entity. Unlike the foreign parent, the UBO of a U.S.
affiliate may be located in the United States.
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