Ultimate Beneficial Ownership (UBO) refers to the real person who ultimately owns or controls a legal entity and benefits from its assets. To enhance transparency and align with international standards, the UAE replaced Cabinet Decision No. 34 of 2020 with Cabinet Resolution No. 58 of 2020, requiring mainland and free zone entities to disclose UBO information to authorities.

Electronic money institutions must also identify UBOs as part of anti-money laundering (AML) obligations. BMS Auditing provides expert management consulting in the UAE, ensuring full compliance with UBO regulations.

Learn more on our website : https://www.bmsauditing.co...