Important Update: Ultimate Beneficial Owner (UBO) Submission and Validation
We would like to reiterate the importance of complying with the Ministry of Economy's Updated Cabinet Resolution 109 and Cabinet Decision 132 regarding the Ultimate Beneficial Owner (UBO) submission process.
It is crucial for all Jafza companies to ensure their UBO details are submitted and consistently kept accurate and up-to-date. This includes providing valid supporting documents, such as passport copies for all declared Ultimate Beneficial Owners.
For companies that have not yet submitted their UBO details or need to make updates:
All UBO submissions and updates are to be completed through the 'Compliance' section on the Dubai Trade portal.
Please follow these steps:
- Log in to Dubai Trade.
- Navigate to 'Compliance'.
- Select 'Update UBO Details'.
- Enter your Company’s account number.
- Follow the instructions to submit new information, revise existing details, or add new UBOs, ensuring all required valid documents (e.g., passport copies) are uploaded.
We urge all companies to familiarise themselves with this updated service and take immediate action to submit or verify their UBO information. Non-compliance or the submission of incomplete/outdated information may lead to business disruption.
