The Ultimate Beneficial Owner (UBO) Procedures are the key element to combating money laundering and financing of terrorism
The Beneficial Owner is an individual who owns 25% or more shares (directly or indirectly) or has absolute control in a UAE entity
Applicability– The registration of beneficial owner data is now required for all companies registered in the UAE, including the free zones.
- Public Shareholding companies
- Companies owned 100% by federal or local government agencies or companies affiliated with companies owned 100% by the state as well.
Evas International can help,
- Licensees in the UAE to maintain a Register of Partners/Shareholders and a Register of Real Beneficial Owners at their registered office.
- Submit the information stated in law to the competent licensing authorities.