Dubai Economy urges registered businesses to provide Beneficial Owner data

Dubai Economy has called on all business owners in the emirate to provide their Beneficial Owner data to be added in the commercial registry as required by the UAE Cabinet Decision No. (58) of 2020. The legal representatives of a registered business in Dubai can visit the eServices page of Dubai Economy or the outsourced service centres 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 must register their Beneficial Owner data irrespective of their category (e.g. Commercial, Professional or Industrial) or legal form.

Customers can visit outsourced service centres 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 licence.

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 licences via text message to ‘6969’ also receive the link to the Beneficial Owner registration.

For enquiries and information on the Beneficial Owner registration, customers can email Dubai Economy on info@dubaided.gov.ae or call +971 4 445 5555.

News Source: https://www.mediaoffice.ae/en/news/2021/June/02-06/Dubai-Economy-urges-registered