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Ultimate Beneficiary Owner

Ultimate Beneficiary Owner

What is Ultimate Beneficiary Ownership, UAE?

To increase corporate transparency, the UAE government issued a resolution that affects all legal entities that are registered in the UAE mainland and freezones to regulate the Ultimate Beneficiary Owner Procedures. The crux of this resolution is to create and maintain a register of their Ultimate Beneficiary Owner (UBO) and a register of partners or shareholders. A UBO is an individual or a party who ultimately owns or controls a company, whether directly or indirectly through at least 25% of the capital. This information must be shared with the competent licensing authority and the non-compliance with the filing of the UBO declaration may lead to penalties by the authorities.

Requirements and responsibilities for UBO compliance

Companies are expected to provide all the details accurately at the time of their registration and licensing. They must also identify and declare relevant details of the UBO in the register and keep it updated. Any change in the data shared regarding this must be intimated to the registrar without delay and any legal entities that fail to comply with this law will face repercussions.

Expertise that guides your business through legislation and regulatory challenges

Aceptive Corporate Servicescan make a huge difference in your business by assisting you to adhere to governmental compliance accurately and punctually easing you from the extensive and delicate process of compilation, documentation, and submission of UBO. Our experienced group of legal experts provides necessary guidance in collecting, verifying, organizing, and compiling all the information that you must register according to the guidelines.

How can we help your business to run smoothly?

  • Assures accurate submission of registration which is free of errors and following the resolution.
  • Quick and reliable ongoing support during the registration process for more data or any updates.
  • Regular review of the amendments and notify authorities within the time limit.
  • Efficient support during the process of deregistration.
  • Assurance of data confidentiality.

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Free Consultation

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