UPDATE (3): Promoting Compliance with the Federal Law No. (20) of 2018 on Anti Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organisations

Companies and certain other UAE business forms must comply with the Ultimate Beneficial Owners (UBO) Regulations, which includes the annual submission or an update of UBO data with the Companies Registrar.

Failure to submit the UBO data will result in penalties. As a reminder, the details can be updated for free on Dubai Trade Portal via this link (UBO form).