As the deadline for reporting Ultimate Beneficial Ownership (UBO) data to the Jebel Ali Free Zone (JAFZA) approaches, arguments over UBO of UAE-based companies (5th June 2021) reappear on the agenda. In addition, the government of the UAE has strengthened…
The Ultimate Beneficial Owner, better known as UBOs Declaration Form, is a new compliance document recently introduced. The requirement for the same became mandatory as a result of Federal Law 20, 2018 which focused on Anti Money Laundering and countering…
UBO (Ultimate Beneficial Owner) Declaration- Fines on UBO violators The UBO is the person who, directly or indirectly, owns and controls a company. In other words, an individual should be considered as a UBO, if they hold at least 25…
In order to run a business in the UAE, business owners need to know about the frequent changes to Emirati Laws. Even if they don’t have time to get involved directly, they need to know what’s going on to ensure…