Ultimate Beneficial Ownership (UBO)

Ultimate Beneficial Ownership (UBO)

The Ultimate Beneficial Ownershipcan be understood as the person, natural or legal, who controls a company or property, on whose behalf a transaction is carried out, and who makes the decisions, according to the Financial Action Task Force (FATF) - a regulatory body for combating money laundering and terrorist financing.

Businesses of all sizes must identify the beneficial owners as part of their business partner verification. You are expected to know exactly which partners you do business with. To avoid doing business with criminal parties, financial service providers, all companies operating internationally, are required to draft a UBO statement that establishes the identity of a UBO or beneficial owner, depending on the country in which they operate.

Compliance 360 identifies the actual beneficiaries or owners of entities to combat crimes against money laundering, financing of terrorist organizations, and the likelihood of tackling tax evasion and provides greater transparency to the UAE business environment in line with international standards. Guidelines and requirements.

UBO data is visually organized to allow you to connect the dots quickly and easily between different roles and complex business structures, enabling you to make faster and better-informed decisions to accelerate your due diligence and reduce duplicate assessments.

Compliance 360 UBO Services

Our professional, dedicated, and competent team will assist you with:

  • Corporate Structure Analysis and UBO Identification.
  • Arranging the filing with the Authorities
  • Prepare the records of UBOs, Partners/Shareholders, and Nominee Directors/Managers (if applicable) in accordance with the Resolution.
  • Maintain relevant records in a dedicated company secretarial database on an ongoing basis.
  • Inform the competent authority of any changes or modifications to the information provided.