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

National Industries Park (“NIP”) would like to request its customers to provide the updated details of KYC/UBO Form by no later than 30 April 2021, unless further guidance on the filing deadline is provided. The details can be updated on Dubai Trade Portal via this link (KYC/UBO form), or by following the steps below:

1. Log in to Dubai Trade Portal
2. Go to “Service Menu”
3. Choose “Registration”
4. Go to “Ultimate Beneficiary Owner”

The following points should be noted:

1. The KYC/UBO Form request is applicable to all types of companies and owners/shareholders, whether the owners/shareholders are natural or legal persons.
2. Pursuant to the Article (15) of the Cabinet Decision No. (58) of 2020 regulating the beneficial owner procedures, please note the following:

• The Registrar shall not disclose to any person the data contained in the Register of Beneficial Owner or the Register of Partners or Shareholders, without a written consent of the Beneficial Owner or the Nominee Board Member

• The provisions of Clause (1) above shall not apply to:
  • Disclosure obligations set forth in the Decision.
  • Anything provided for by the international laws and conventions in force in the State, particularly the provisions of Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organisations.

To view the Federal Law No. (20) of 2018, please click here.

To view the Cabinet Decision No. (58) of 2020, please click here.