Regulatory Compliance: Scrutiny of Ultimate Beneficial Owner (UBO) Registers and Updated Disclosure Requirements in the UAE. Legal Focus: The Ministerial Decision No. (58) of 2020 mandates transparency regarding corporate ownership structures to combat Money Laundering (AML) and Terrorism Financing (CFT). Core Obligation: Entities are legally required to identify and notify the competent authority (licensing authority) of the identity of the Ultimate Beneficial Owners (UBOs). Definition of UBO: Any natural person who ultimately owns or controls, directly or indirectly, 25% or more of the capital or voting rights, or exercises effective control over the company's management. Compliance Risk: Failure to maintain accurate registers or provide false information within the statutory timeframe (usually 15 days of change) subjects the company to significant administrative fines and regulatory penalties. We invite you to consult with our legal experts to review your current standing and strategic alignment.

Regulatory Compliance: Scrutiny of Ultimate Beneficial Owner (UBO) Registers and Updated Disclosure Requirements in the UAE.
Legal Focus: The Ministerial Decision No. (58) of 2020 mandates transparency regarding corporate ownership structures to combat Money Laundering (AML) and Terrorism Financing (CFT).
Core Obligation: Entities are legally required to identify and notify the competent authority (licensing authority) of the identity of the Ultimate Beneficial Owners (UBOs).
Definition of UBO: Any natural person who ultimately owns or controls, directly or indirectly, 25% or more of the capital or voting rights, or exercises effective control over the company's management.
Compliance Risk: Failure to maintain accurate registers or provide false information within the statutory timeframe (usually 15 days of change) subjects the company to significant administrative fines and regulatory penalties.
We invite you to consult with our legal experts to review your current standing and strategic alignment.