What are the expectations from a legal person with respect to the UBO requirements?

KPI Marketing

Last Update vor 4 Monaten

Legal persons are expected to do the following:

They must provide all the required details at the time of licensing and registration in the specific form:

  • Name and legal form of the entity
  •  Memorandum of Association and Article of Association
  • Head office address or principal address of the entity 
  • In the case of a foreign legal person, the name of the legal representative in UAE, address, and identity proof
  • Names of individuals holding higher management positions in the legal person along with details of identity cards or passports, including number, issuing entity, issuing date, and expiry date
  •  They must mention the trade name and address in UAE as that will be used for all kinds of correspondences and documents.
  • They must issue notices to all beneficial owners when there is confusion about who the UBO is
  •  They must provide required details on the Register of UBOs, maintain it, and update it within 15 days whenever any changes come.
  •  They must provide required details on the Register of partners or shareholders, maintain it, and update it within 15 days whenever any changes come.
  • They must provide required details on the Register of directors and nominee directors, maintain it, and update it whenever changes occur.
  • Provide the data on these registers to the Registrar as and when requested and disclose the same with personnel or authorized agents.
  • If there is any change in the data filed with the Registrar, they must notify the Registrar within 15 days of the date of the amendment.

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