Who is a controlling owner?
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A controlling owner of a financial service provider (FSP) is any person (including another company or entity) who beneficially owns 50% or more of the FSP.
For the purposes of the FSPR, the controlling owner is the person who enjoys the benefits of owning the majority interest in the FSP, not necessarily the person named in official documents - such as a company’s share register - as the legal owner. The beneficial owner is not always the registered owner (often otherwise known as the nominee owner).
We recommend you seek legal advice if you are unsure which person or entity to name as the controlling owner.
The name of the controlling owner will not be made public on the FSPR. It is collected by the Registrar for the purposes of disqualification checks.
![[image] flowchart icon portlet.](http://www.business.govt.nz/fsp/image-library/Flowchart.jpg)
![[image] registration guides.](http://www.business.govt.nz/fsp/image-library/resources/rules-is-rf.gif)
