ultimate-beneficial-ownership-ubo-submissions-for-mainland-companies

Ultimate Beneficial Ownership (UBO) Submissions for Mainland Companies

  • Admin
  • 02 Jun 2021

We have already updated you on how you can determine your UBO. Now however, UAE ministry of economy has requested all companies (Freezones & Mainland)in the UAE to submit real beneficiary details to the respective regulatory authorities.

Deadline - 30 June 2021

If UBO submissions are not done, penalty’s will come into effect on July 1st. The penalty for not making the UBO submissions is AED 100,000.

Bottom Line

For the freezone license, the UBO submissions need to be done directly with the free zone authorities, and in most cases this information is already collected by them. If you have not made your UBO submission as a freezone license, it is better to contact your authority soon.

With respect to the mainland licenses the method of the submission is different for each emirate. We have curated a list below, so you can get all the information in one place.
                                                             

Dubai Department of Economic Development -

Dubai Department of Economic Development has requested all licensees to make the submission before the 15th of June 2021. You would have already gotten an SMS from Dubai DED with a link to make the submission. This link is just for your company. Click this link and you will need to verify the information and make the confirmed submission. Make any necessary amendments if needed.

If you have not yet gotten any SMS to the registered mobile number yet, we recommend visiting one of the outsourced centers of DED with the trade license copy and inform them what mobile number you would like to get the SMS sent to.

Once the SMS is sent to your phone, you have three days to make the submission.

Abu Dhabi Department of Economic Development

You will receive an email from ADDED to the registered email address with a link to make the UBO submission. If you have not yet received this link, or have technical problems filling it up, it is advisable to get in touch with the Department of Economic development in Abu Dhabi.

Sharjah Economic Development Department -

To make the UBO submission for Sharjah licenses, you will need to go on the SEDD online portal. Click here to make the submissions. https://eservices.sedd.ae/eservicesweb/license-renewal/real-beneficiary/view.xhtml?chk=1

The online process is very straightforward. Simply select the owners that are UBO, and add members that are not in the ownership list.

Ras Al Khaimah DED

In order to submit the ultimate beneficiary details, you would need to visit one of the outsourced centers, to fill up and submit the physical UBO forms provided by them. This is not an online submission.

 

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