Ultimate Beneficial Ownership (UBO) UAE / BMSAuditing
Ultimate Beneficial Ownership (UBO) is a natural person who owns or controls a company, trust, or legal entity, and benefits from its assets and profits. It is the real person behind a legal entity, who ultimately exercises control over the entity, whether directly or indirectly.

UAE recently replaced Cabinet Decision No. 34 of 2020 with Cabinet Resolution No. 58 of 2020 on the Regulation of the Procedures Related to Real Beneficiaries (“Decision”). Ultimate Beneficial Ownership (UBO) intends to enhance the transparency of UAE-registered entities. It also plans to develop effective and sustainable executive and regulatory mechanisms and procedures in respect of beneficial owner data and improve implementation to ensure International Compliance and global confidence