Penalties for non-disclosure of UBOs to be imposed

UAE businesses which have not submitted details of their ultimate beneficial owners (UBOs) to the competent authority risk being fined up to AED 100,000 from 08.07.2021 onwards. Affected companies can appeal against the punitive measures within 30 days from the date of notification.

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Should you have further queries, we are glad to assist you anytime, whether in a personal meeting, over the phone on +971 4 327 5888 or by eMail at info(at)anders.ae.

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