Ultimate Beneficial Owner Regulation Filings - Are you Ready -simpv (1)

Ultimate Beneficiary Owner Regulation Filings — Are you Ready?

The UAE is taking Anti-money laundering and compliance very seriously. Substantial resources have been put towards the topic which is at the top of the policy agenda.

But outside of the DIFC and ADGM, there was a pressing need to uniformize ongoing compliance requirements across a vastly fragmented system of registries spread between non-financial free zones and UAE mainland. After the introduction of Economic Substance Regulations (“ESR”), now comes the Ultimate Beneficiary Owner Regulation [the “UBO Resolution”].

The Resolution came into force on 24th August 2020 and is applicable to UAE mainland, Free Zone and Offshore entities (ADGM/DIFC are out of scope as they have similar internal regulations in place).

What an entity must do and by when?

What is the definition of Beneficial owner and Nominee Director?

What are the key ongoing compliance obligations?

 

LEARNING OBJECTIVES

By the conclusion of the program, participants will be able to:

  • Understand the purpose of the Ultimate Beneficiary Owner Regulation
  • Understand key features and requirements

 

ABOUT THE SPEAKER

Yann Mrazek is Managing Partner at M/HQ. He was Chair of STEP Arabia, 2015-2018.

He chiefly focuses on private wealth, tax and immigration practice. He has vast experience advising successful individuals and entrepreneurial families with Middle Eastern exposure on implementing inter-generational wealth transfer strategies and structuring their operational assets and global wealth. Expertise in devising and implementing family – and corporate – Governance. Regularly involved in the ongoing management of family holding structures – as a board member, council member, guardian or protector. Experience of working with regulators. Strong practical experience in managing companies at all stages of their development. For more details, kindly email on mrazek@m-hq.com