
Why open a Free Zone Company in Dubai?
Free Zone Business in Dubai, is it the right place for You? Dubai is located on the Arabian Gulf’s coast.
The United Arab Emirates Cabinet has issued a Cabinet Resolution no (58) of 2020 in relation to Ultimate beneficial Ownership on 28 August 2020. This resolution is applicable to all entities that are registered in the UAE mainland and free zones
The UBO is the one who ultimately owns or controls a company and/or on who conducts the transaction or on whose behalf a transaction is being conducted. Declaring a company’s ultimate beneficiary is “one of the main requirements for completing disclosure and transparency requirements from enterprises and individuals within the anti-money laundering system in the country”, said Safeya Al Safi, director of the ministry’s anti-money laundering department.
The MoE has urged the compliance of UAE establishments with UBO DATA SUBMISSION.
Source: Khaleej Times
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Free Zone Business in Dubai, is it the right place for You? Dubai is located on the Arabian Gulf’s coast.
The United Arab Emirates (UAE) has grown throughout time to become a global hub for enterprises looking for strategic development
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