UBO Compliance Services
Cabinet Decision No. (58) of 2020 Regulating the Beneficial Owner Procedures requires every licensee to declare beneficial owners of the business. Every registered business or newly incorporated business is required to provide the licensing authority about the beneficial ownership of a business.
Identification of Beneficial Ownership
The determination of a business’ beneficial ownership becomes complex when shareholders do not exercise control over the business and act in capacity as investor (i.e., active or passive). Our professionals can assist in performing the beneficial ownership test to determine UBO reporting for the business.
Maintenance of Registers
Every legal person is required to maintain registered and inform the registrar on the changes within stipulated time. We can assist you in maintaining these registers and guide you through the notification requirements.
Submission of UBO Declaration
Every legal person is required to submit declaration of UBO before renewing the license on a yearly basis. Our team can assist with the preparation of declaration and the submission to licensing authorities.
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