๐๐๐๐ฅ๐ง: ๐๐บ๐ฝ๐ผ๐ฟ๐๐ฎ๐ป๐ ๐ฎ๐บ๐ฒ๐ป๐ฑ๐บ๐ฒ๐ป๐๐ ๐๐ผ ๐ ๐ถ๐ป๐ถ๐๐๐ฒ๐ฟ๐ถ๐ฎ๐น ๐ฅ๐ฒ๐๐ผ๐น๐๐๐ถ๐ผ๐ป ๐ก๐ผ. ๐ฐ ๐ผ๐ณ ๐ฎ๐ฌ๐ฎ๐ฏ ๐ฟ๐ฒ๐ด๐ฎ๐ฟ๐ฑ๐ถ๐ป๐ด ๐จ๐น๐๐ถ๐บ๐ฎ๐๐ฒ ๐๐ฒ๐ป๐ฒ๐ณ๐ถ๐ฐ๐ถ๐ฎ๐น ๐ข๐๐ป๐ฒ๐ฟ๐ (๐จ๐๐ข ๐ฅ๐ฒ๐๐ผ๐น๐๐๐ถ๐ผ๐ป) ๐ต๐ฎ๐๐ฒ ๐ฏ๐ฒ๐ฒ๐ป ๐ถ๐ป๐๐ฟ๐ผ๐ฑ๐๐ฐ๐ฒ๐ฑ ๐ฏ๐ ๐ ๐ถ๐ป๐ถ๐๐๐ฒ๐ฟ๐ถ๐ฎ๐น ๐ฅ๐ฒ๐๐ผ๐น๐๐๐ถ๐ผ๐ป ๐ก๐ผ. ๐ญ๐ฒ ๐ผ๐ณ ๐ฎ๐ฌ๐ฎ๐ฑ.
๐๐ฒ๐ ๐๐บ๐ฒ๐ป๐ฑ๐บ๐ฒ๐ป๐๐:
- ๐ผ๐๐๐๐ฉ๐๐ค๐ฃ๐๐ก ๐๐ญ๐๐ข๐ฅ๐ฉ๐๐ค๐ฃ๐จ
The list of entities that are exempt from the application of the UBO Resolution has been expanded to include entities listed on international stock exchanges that impose similar disclosure requirements regarding UBOs and their majority-owned subsidiaries as well as entities that are wholly owned by foreign governments.
New entities licensed under the Foreign Direct Investment Law (FDIL) are given a three-month grace period to register their UBO information.
- ๐๐๐ฃ๐๐ก๐ฉ๐๐๐จ
Penalties for non-compliance with the UBO Resolution have been clarified. These include being subject to stricter sanctions, which may apply under anti-money laundering legislation, potential financial penalties, and suspension and de-registration of entities that may apply in relation to breaches of UBO requirements.
ASAR – Al Ruwayeh & Partners is ready to provide expert guidance on these significant legal developments and their implications for your business. Contact us to discuss your specific needs.
