Dubai extends deadline for beneficial owner data to June 30

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The Dubai skyline. Picture for illustrative purposes only. Image Credit: WAM

Dubai: The last day for all registered businesses in Dubai to add their beneficial owner data to the commercial registry has been extended to June 30.

The Dubai Economy also urged businesses to provide the data within the new deadline to avoid any legal consequences. Registered businesses in Dubai can add the details by logging in to the eservices page of Dubai Economy.

Beneficial owner

This refers to those individuals/entities that benefit from owning a registered business. The cabinet decision requires all registered businesses in the UAE to reveal the identity and furnish details of their beneficial owner to be included in the commercial registry as part of enhancing corporate compliance in the country.

The data required include name, nationality, gender, passport number, residence address and mobile number. All registered businesses in Dubai must register irrespective of their category (e.g. commercial, professional or industrial) or legal form.

How to update the data?

Customers logging in to the Dubai Economy eservices page can click on the add/modify the beneficial owner button. The customer will then be transferred to another screen to enter the beneficial owner data.

Any customer performing a business registration and licensing transaction at Dubai Economy is automatically alerted on the beneficial owner data via text message before a payment voucher for the transaction is issued. The customer can then click on the link provided in the text message and enter the data. Business owners requesting auto renewal of their licences via text message to ‘6969’ also receive the link to the beneficial owner registration.