UAE cabinet decision no (58) of 2020 regulating Ultimate Beneficial Owner procedures (“UBO”) SUMMARY

UAE cabinet decision no (58) of 2020 regulating Ultimate Beneficial Owner procedures (“UBO”) SUMMARY

The Resolution requires entities licenced in the UAE (unless exemptions apply) to prepare and file a Ultimate Beneficial Owner (“UBO”) register, Nominee Director register (if applicable) and a Partners or Shareholders register, with the relevant authority within sixty (60) days from the date the Resolution came into force on 28 August 2020

 

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