Beneficial Owner

The actual or economic owner of an offshore company, who is the ultimate beneficiary of a company or trust. This is distinct to the registered or nominal owner.

It is common practice in offshore financial secrecy jurisdictions to interpose entities, individuals, or both as stated owners. The beneficial or true owner is contractually acknowledged in side agreements, statements or by other devises. The beneficial owner receives (or has the right to receive) proceeds or other advantages as a result of the ownership.