> ## Documentation Index
> Fetch the complete documentation index at: https://rain-sandbox-trial.mintlify.site/llms.txt
> Use this file to discover all available pages before exploring further.

# Ultimate Beneficial Owner (UBO)

> What an Ultimate Beneficial Owner (UBO) is, who qualifies, and how UBOs are added and verified in a corporate card application.

<Check>
  **Corporate program only:**

  This page applies to Corporate Programs.
</Check>

In the Rain system, an Ultimate Beneficial Owner (UBO) is an individual who holds significant control over a company applying for a corporate card program. This concept is required under compliance rules and is essential to the company application process.

## UBO definition under compliance rules

A UBO is any individual who meets at least one of the following criteria:

* Owns 25% or more of a company’s shares.
* Controls 25% or more of a company’s voting rights.
* Exercises significant influence over the company in another way.

All companies have at least one UBO, but UBOs do not need to be Rain users. Instead, they are listed as part of the corporate application.

## What representatives and UBOs submit

Verifying a business also means verifying the people behind it. A corporate application includes its **representatives** (authorized signers) and its UBOs, and the two submit different things:

* **Representatives** provide the same personal information as a consumer applicant and are screened as soon as they are added.
* **UBOs** provide the same personal information and an identity document, but no selfie. Under **Standard Compliance**, UBO checks are reviewed by Rain's compliance team rather than requested automatically; under **Hybrid Compliance**, UBO checks run automatically alongside representatives.

For the consumer field list both roles draw on, see [Verification requirements & screening](/docs/verification-requirements).

## UBOs in the Rain system

Identifying UBOs is a crucial step in the corporate application process, ensuring compliance and verification of company ownership. The following questions cover UBOs and their role in the application process.

<AccordionGroup>
  <Accordion title="Is the UBO required in the corporate application?">
    Yes. A company application cannot be fully approved until all UBOs have been processed.
  </Accordion>

  <Accordion title="Is the UBO the same as the user created during the company application?">
    No. The individual created in the application step is not necessarily a UBO. UBOs are listed in the application's own `ultimateBeneficialOwners` array, separate from its `representatives`; a person who is both appears in both.
  </Accordion>

  <Accordion title="What types of users exist in a corporate application?">
    There are two distinct roles in a corporate application:

    * **UBOs:** individuals who own 25% or more of the company.
    * **Representatives:** people authorized to act on behalf of the company during the application.
  </Accordion>

  <Accordion title="Can a company application be started without adding UBOs?">
    Yes, but Rain does not recommend this. The company will not be fully approved until all required UBOs are added and verified.
  </Accordion>

  <Accordion title="How many UBOs can a company have?">
    There is no fixed limit. Depending on its ownership structure, a company may have one UBO or hundreds.
  </Accordion>

  <Accordion title="Are UBOs necessary before issuing cards?">
    Yes. UBOs must be processed and approved before the company can start issuing cards.
  </Accordion>

  <Accordion title="How are UBOs verified?">
    Each UBO provides personal information and an identity document; a selfie is not required for UBOs. Who runs the check depends on your compliance model, as described in [What representatives and UBOs submit](#what-representatives-and-ubos-submit). For accepted document types, see [KYC/KYB documents](/docs/kyc-kyb-documents).
  </Accordion>
</AccordionGroup>

## What's next

<Columns cols={3}>
  <Card title="Verification requirements" icon="shield-check" href="/docs/verification-requirements">
    The field-by-field tables a corporate application draws on.
  </Card>

  <Card title="KYC/KYB documents" icon="file-lines" href="/docs/kyc-kyb-documents">
    Documents required for people and businesses.
  </Card>

  <Card title="Application states" icon="list-check" href="/docs/application-states">
    Track the corporate application's outcome.
  </Card>
</Columns>