Ultimate Beneficial Owner (UBO)

Our UBO Services ensure compliance with the latest regulations, providing a smooth and hassle-free process. We aim to ensure transparent and compliant ownership information in line with UAE regulations.

Declaration of Ultimate Beneficial Ownership in UAE
In compliance with stringent Anti-Money Laundering Regulations in the United Arab Emirates (UAE), Cabinet Decision No. 58 of 2020 mandates that all business entities create, maintain, and submit a Beneficial Owner Register to their licensing authorities. This framework aims to uphold UAE’s international economic standards, disclose obligations related to Beneficial Owners, and establish effective regulatory measures to combat Money Laundering and Terrorism Financing.

Applicability and Exemptions
Scope of UBO Regulations in UAE
The Cabinet decision on Ultimate Beneficial Ownership (UBO) carries a wide-ranging scope, encompassing all companies operating within the United Arab Emirates, whether they are located onshore or within free zones. This comprehensive approach underscores the commitment to transparency and accountability in corporate structures.

It is essential to note that certain entities are exempt from the provisions of this resolution. These exemptions are specifically applicable to two categories:

Companies in financial free zones such as Abu Dhabi Gold Markets and Dubai International Financial Centre and
Companies directly or indirectly owned by the Federal or Emirate Government.

Identifying the Ultimate Beneficial Owner
According to Cabinet Resolution No. (58) of 2020, a Beneficial Owner or Real Beneficiary can be defined as:

A Natural Person who definitively owns or controls the establishment through direct or indirect ownership of 25% or more of shares.
Someone who holds the right to vote by 25% or more or the right to appoint/dismiss a majority of the establishment’s managers or exercises ultimate control through any other means.
In cases where UBO cannot be identified through the above two conditions, a Natural Person holding the position of a Senior Management Official in the company may be considered the UBO.
If two or more natural persons jointly own or control a ratio of capital in the Legal Person, all of them shall be deemed as jointly owners or controllers of such ratio.