UBO (Ultimate Beneficial Owner)

Ultimate Beneficial Owner

What is UBO declaration in the UAE?

a. According to the Resolution passed by the UAE Cabinet, UBO is a person who directly or indirectly owns and controls a company.

This means:

The person owns 25% or more of an entity’s shares

Has at least 25% of voting shares

Controls the entity through any other means such as appointing or dismissing the majority of directors

b. If such a natural person as mentioned in (1) is not available, UBO will be a person who has control over the company through other means.

c. If no natural person is identified via conditions mentioned in (1) and (2), a person appointed by higher management shall be considered as a UBO

d. If any of the conditions specified above are satisfied by one or more persons, then everyone shall be considered as UBO.

Who is a UBO in a company?

UBO is an individual who holds the most amount of control in the company and owns maximum benefits from the business.

How to submit UBO in UAE?

To submit online:

Browse to htttps://ded.ae

Go to e-services

Add/ modify beneficiary

Login with UAE pass

Fill in required data and upload documents

To submit in person: Authorized representative of the entity shall go in person to the service center and submit necessary documents

What is the meaning of UBO?

A UBO or Ultimate Beneficial Owner is the person that is the ultimate beneficiary when an institution initiates a transaction.

What is UBO in UAE?

The UBO is the natural person who, directly or indirectly, owns and controls a company. Individuals with ownership of at least 25% shares or voting rights of a company or someone with the power to dismiss and appoint a majority of a company’s directors is considered a UBO.

Can a UBO be a legal person?

A UBO must always refer to a natural human. A UBO has to be a person and cannot be a legal entity, and follows the ownership chain upwards till all persons having the ownership have been identified.