Dubai, 3 August 2021: The Commercial Compliance & Consumer Protection (CCCP) Sector in Dubai Economy has imposed fines on 148 companies in the emirate that did not register their Beneficial Owner data by the 30th of June 2021 as was required by law. Violators will have to pay a fine of AED 15,000 each.
The disciplinary measure being adopted now follows an intensive awareness campaign that was launched across traditional and digital media to educate companies in Dubai on the importance of registering their Beneficial Owner data in the commercial registry in accordance with the UAE Cabinet Decision No: (58) of 2020, as well as the relentless efforts of Dubai Economy to uphold global best practices in doing business.
Dubai Economy has also called on companies registered in Dubai to provide their Beneficial Owner data on its eServices page https://eservices.dubaided.gov.ae/BeneficiaryOwner or via the call centre +97144455555. For more details businesses can contact info@dubaided.gov.ae or visit one of the approved service centres of Dubai Economy.
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About Dubai Economy
Dubai Economy (Department of Economic Development – Government of Dubai) is the government body entrusted to set and drive the economic agenda of the emirate of Dubai, UAE. Dubai Economy supports the structural transformation of Dubai into a diversified, innovative service-based economy that aims to improve the business environment and accelerate productivity growth. Dubai Economy and its agencies develop economic plans and policies, identify and support the growth of strategic sectors, and provide services to domestic and international investors and businesses.
For further information, please contact: Faisal Shamsudheen, MediaRelations@dubaided.gov.ae
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