The beneficial owner of a legal entity is a person who:
Holds an interest of minimum 25% capital of the legal entity
Has minimum 25% voting rights at the general meeting of shareholders
Receives minimum 25% of said legal entity’s capital as beneficiary
Because Gig Wage provides banking services to our business customers, we must collect and verify beneficial owner information in accordance with the U.S. Patriot Act, Anti-Money Laundering and Anti-Terrorist Financing Act, and all KYC/KYB/AML regulations.
The primary user of a Gig Wage business account must be a beneficial owner.