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UAE: 148 companies fined for failing to register ‘Beneficial Owner’ data

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The Commercial Compliance and Consumer Protection (CCCP) Sector in Dubai Economy fined 148 companies in the emirate that did not register their ‘Beneficial Owner’ data by 30th June 2021 as required by law.

The violators were fined AED 15,000 each.

The disciplinary measure follows an intensive awareness campaign launched across traditional and digital media to educate companies in Dubai on the importance of registering their Beneficial Owner data in the commercial registry, as well as the efforts of Dubai Economy to uphold global best practices in doing business.

See also  UAE: Two businesses shut down, 25 fined for violating Covid-19 measures

Dubai Economy has also called on companies registered in Dubai to provide their Beneficial Owner data on its eServices page or via the call centre +97144455555.

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