Businesses in Dubai urged to provide Beneficial Owner data

• Businesses can visit Dubai Economy eServices page or outsourced service centers to submit data

• Furnishing data is required under the Cabinet Decision of 2020

Dubai Economy has called on all business owners in the emirate to provide their Beneficial Owner data that would be added in the commercial registry, an official spokesman of the Dubai Economy said in a statement.

The legal representatives of a registered business in Dubai can visit the eServices page of Dubai Economy or the outsourced service centers to furnish the Beneficial Owner data required.

‘Beneficial Owner’ refers to those individuals/entities that benefit from owning a registered business.

The Cabinet Decision No. (58) of 2020 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 in line with international best practices.

The Beneficial Owner data required include name, gender, passport, nationality, residence address and email.

All registered businesses in Dubai are required to register their Beneficial Owner data irrespective of their category (commercial, professional or industrial) or legal form.

Customers can visit outsourced service centers of Dubai Economy and request to register the Beneficial Owner data upon which they will receive an electronic link to the procedure via text message. The customer can then click on the link and complete the procedure in a few simple steps.

Alternatively, customers can log in to https://ded.ae/service_details/en/beneficial_owner and then click on the Add / Modify the Beneficial Owner button. The customer will then be transferred to another screen to enter the Beneficial Owner data of the license.

The deadline for registering the Beneficial Owner data is 15 June 2021.

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 Beneficial Owner data required. Business owners requesting Auto Renewal of their licenses via text message to ‘6969’ also receive the link to the Beneficial Owner registration.

Further information is available at [email protected] and +971 4 445 5555 phone numbers.