Real Beneficiaries – Deadline Imminent

Further to our recent alerts, by early next week all entities who fall under the scope of Cabinet Resolution No. 58 of 2020 on the regulation of the Procedures of the Real Beneficiary (“Resolution 58”), must provide their respective commercial registrars with details of their Real Beneficiaries and the Partners / Shareholders, as per the registers they are required to prepare and maintain.

You should keep in mind that, apart from Abu Dhabi Global Market, Dubai International Financial Centre, wholly Federal or local government owned (or their wholly-owned subsidiaries or branches) or UAE securities market listed entities, all UAE entities fall under the scope of Resolution 58.

How Can We Help?

We would be delighted to advise if your entity is subject to this regime and, if so, help you identify your Real Beneficiaries and prepare the Real Beneficiaries, Partners / Shareholders, Directors registers required under Resolution 58 (in Arabic / English, as the case may be).