Cabinet Decision No. (58) of 2020 Regulating the Beneficial Owner Procedures

Cabinet Decision No. (58) of 2020 Regulating the Beneficial Owner Procedures

Cabinet Decision No. (58) of 2020 Regulating the Beneficial Owner Procedures

Objectives:
1. Contribute to the development of business environment, capacities of the State and its economic position in accordance with the international requirements, by regulating the minimum obligations of the Registrar and Legal Persons in the State, including the licensing or registration procedures, regulating the Register of Beneficial Owner and the Register of Partners or Shareholders.

2. Develop effective and sustainable executive and regulatory mechanisms and procedures for the beneficial owner data.

Read our complete guide to UBO verification.

FAQs About Cabinet Decision No. (58)

Cabinet decision No 58 of 2020 UAE regulates the beneficial owner procedures. It governs the process of collecting and maintaining the Register of beneficial owners and the Register of Partners of Shareholders.  

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