Under UAE’s Anti-Money Laundering framework, Cabinet Decision No. 58 of 2020 mandates most business entities to identify and declare their Ultimate Beneficial Owners (UBOs) to respective licensing authorities. This involves preparing and maintaining a Beneficial Owner Register and submitting it with the required documentation.

A UBO is an individual who owns at least 25% of shares (directly or indirectly) or exercises ultimate control over the entity or its senior management. Identifying UBOs becomes complex in layered ownership structures involving multiple holding companies. Authorities such as the Department of Economic Development (DED) and various Free Zone regulators require timely submissions, and non-compliance may lead to penalties or license suspension.

At Goldstone, we offer expert support in:

• Identifying Ultimate Beneficial Owners in both simple and complex ownership structures

• Preparing and compiling all required documents, including UBO Registers and Declaration Forms

• Assisting in online and offline submissions to Free Zone portals and the DED

• Ensuring full compliance with current regulatory standards to avoid penalties or disruptions

Trust Goldstone to streamline your UBO compliance and ensure your business meets all legal obligations with confidence.