Last Update vor 4 Monaten
The process of identifying the UBO of an entity is as follows:
Step 1: Check whether the entity is registered and licensed in UAE. Check the accuracy and legality of all the information related to its license. You need to check the entity name, address, registration number, names and identities of top management, and official status.
Step 2: Now, you must conduct thorough research on the ownership chain of the entity. Identify all the beneficial owners holding shares in the entity. Check whether the owner is a natural or legal person and whether the ownership is direct or indirect.
Step 3: Now, compare all the owners for the shareholding percentage or management control of the entity. You will get to know the ultimate beneficial owner who holds the highest interest or share in the entity.
Step 4: Since you have identified the UBO, now you can conduct a KYC check of the UBO/s to categorize them into risk categories of low, medium, or high.