Ultimate Beneficial Owner(UBO) Declaration
Lavin Nalinababu, Business Consultancy
19 October, 2020
UAE recently replaced Cabinet Decision No. 34 of 2020 with Cabinet Resolution No. 58 of 2020 on the Regulation of the Procedures Related to Real Beneficiaries (“Decision”). According to the new resolution, companies licensed or registered in the UAE (excluding in the financial free zones) must create and maintain a register of their ultimate beneficial ownership(“UBO”) and should submit UBO data to the relevant registrar or licensing authority (“Registrar”).
Our consultants can assist you with
- Consultancy related to UBO declaration
- Maintenance of UBO register
- UBO record maintenance
For more details, click here.
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