Ultimate Beneficial Owner (UBO)
The UAE followed the suit by issuing the UBO Regulations, which will mitigate the threat of financial
fraud by having companies identify the individual that will ultimately benefit from the actions of such
companies.
Under the UBO Regulations, as per the Cabinet Resolution No. 58/2020, all companies licensed and
registered in the UAE – except those that are wholly owned by a local or federal government body, or
those set up in the DIFC or ADGM financial free zones – are required to maintain registers with
information about ultimate beneficial owners (UBOs), shareholders and any nominee board members.