Cabinet Decision No. 109/2023 On Regulating the Beneficial Owner Procedures
Abrogates:
Cabinet Decision No. 58/2020 dated 28/08/2020
The Cabinet,
Pursuant to the perusal of the Constitution;
Federal Law No. 1/1972 on the Competencies of Ministries and Powers of Ministers, and its amendments;
Federal Decree-Law No. 20/2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organizations;
Federal Decree-Law No. 32/2021 on Commercial Companies;
Federal Decree-Law No. 37/2021 on the Commercial Register;
Cabinet Decision No. 58/2020 on the Regulation of the procedures of the Beneficial Owner; and
Based on the proposal of the Minister of Economy, and the approval of the Council of Ministers,
Has resolved:
Article 1 - Definitions
In implementing the provisions of the present Decision, the following terms and expressions shall have the meanings assigned thereto, unless the context otherwise requires:
Country: The United Arab Emirates.
Ministry: The Ministry of Economy.
Minister: The Minister of Economy.
Decree-Law: Federal Decree-Law No. 20/2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organizations, and its amendments.