3. Information flows
The guidance in this document assumes an information flow as described in the systems diagram below.
Figure 1. Beneficial ownership systems diagram (example)
Individual declarations of beneficial ownership are made on behalf of entities. These might be on paper or via electronic forms. This data is entered into a central database which can publish beneficial ownership records that comply with the BODS schema.
There are good practices in form design that help ensure good quality data is provided in entities’ declarations of beneficial ownership.