What are the expectations from a legal person with respect to the UBO requirements?
KPI Marketing
Last Update منذ عامين
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.