Understanding UBO Compliance in the UAE
The UAE government requires all corporate entities to maintain and submit a register of Ultimate Beneficial Owners (UBO). This transparency measure is designed to combat financial crimes and align with international regulatory standards.
Key Comprehensive Filing Process
- Identification of the natural persons who ultimately own or control the legal entity.
- Preparation of the Real Beneficiary Register and Partners/Shareholders Register.
- Submission of data to the relevant Licensing Authority (DED, Free Zones, or ADGM/DIFC).
- Ongoing monitoring and updates for any changes in ownership structure.