UAE UBO Regulations Update: M/HQ’s UBOr Tracker − DED

Following the introduction of federal Ultimate Beneficiary Regulations – Cabinet Resolution No. 58 of 2020 on the Regulation of the Procedures of the Real Beneficiary (“UBOr”) the Dubai Department of Economic Development (DED) has issued its guidance on the filing method of its Licensees’ UBO Registers.

To help navigate this administrative maze, M/HQ has compiled a “UBOr Tracker” highlighting key procedural steps of most relevant UAE registrars with respect to UBO ongoing compliance.

The UBOr Tracker complements M/HQ’s “Which Free Zone for Which Purpose” guide – see here –, a comparison of UAE’s major free zones, their core focus, key features, and USPs.

These two sources will help you and/or your clients determine which free zone is most suitable for every specific business concept, and meet your ongoing compliance obligations.

M/HQ can assist you to comply with the Resolution by maintaining your entity’s statutory registers and minute books, which comprise the (i) shareholders’ register; (ii) beneficial owners’ (the BO(s)) register, and (iii) nominee directors’ register.

The above assistance is part of our corporate secretarial services, which can be tailored as per your entities’ specific needs.

We have designed two (2) different corporate secretarial services packages, ready to go. Whether a start-up, a high growth company or a blue-chip company, we have the right offering at the right value point for your organization:

We would be happy to discuss your company secretarial needs in-depth, helping you comply with the Resolution and find the most cost and time-effective solution to meet your administrative and statutory compliance responsibilities.