Register of beneficiaries in DubaiRegister of beneficiaries in Dubai

Dubai International Financial Center (free economic zone in Dubai) has published a bill on disclosure of information on beneficial owners.

According to the bill, the Registrar of Companies will collect information on the beneficiaries of the companies of the Financial Center already at the establishment of the legal entity.

The Registrar will also be required to disclose certain confidential information about the beneficiaries to the government of the United Arab Emirates, which in turn will be able to transfer this information to the tax authorities in order to comply with international agreements.

A consultations on this bill will take place until June 24^th, 2018.

On materials of the following website: https://www.difc.ae/newsroom/news/difc-announced-proposed-new-companies-regulations-operating-law-and-regulations-and-ultimate-beneficial-ownership-regulations-pu