UBOs are natural persons who ultimately own or control or have the right to vote with minimum 25% shareholding of the company, whether through direct or indirect ownership or who have the right to appoint or dismiss the majority of the Directors / Managers.

All Creative City’s registered establishments must submit the registers of UBO’s and Partners / Shareholder and Nominee Directors by filling the following UBO Declaration form.

The UBO Law applies to all establishments licensed and registered in the UAE, except for those that are wholly owned by a local or federal government body or listed in the stock market. The UAE Cabinet Decision No. 53/2021 establishes penalties to be imposed in the event of failure to submit the Ultimate Beneficial Owner (UBO) as follow: 

(Download Cabinet Decision in English) – (Download Cabinet Decision in Arabic)

To submit UBO Declaration please click on the button below:

All Entities must perform the following:

1. Maintain in their headquarters the following registers:
   • Partners/Shareholders (state the information about the ownership interests and voting rights held by each individual);
   • Real Beneficiaries (provide the reason behind being Real Beneficiaries and the date they termed as one.
   • Directors and Nominee Directors.
   • Other important documents and UBO forms submitted to authorities.
2. Create the registry at the company headquarter and ensure the accuracy of data (which gives establishments with complex structures to start the procedures for determining their Ultimate Beneficial Owner and keep their data in registers.
3. Notify the licensing authority of any amendment regarding the initial information given, provided within fifteen (15) days of such change or amendment by resubmitting the UBO Declaration form. 
4. Submitting the Ultimate Beneficial Owner declaration form in the systems of licensing authorities to avoid penalties.

It has been assured by the ministry that, any data submitted will be kept with utmost confidentiality with no access to anyone for any purposes including the employees of the entity itself, except in case of an investigation and the required disclosure to specific official entities, according to strict internal policies and Regulations.