UBO registration deadline forthcoming

6 Dec 22

QATAR

IMPACT — MEDIUM

The Qatari government has set the deadline for companies to complete the Unified Economic Register.

Key Points:

  • All companies in Qatar must provide their “ultimate beneficial owner,” or UBO, registration by Dec. 31, 2022.
  • Companies must complete UBO registration through this website and include the UBO’s:
    • Full name as indicated in official identification documents.
    • Date and place of birth.
    • Nationality.
    • Address.
    • Passport or identification card expiration date.
    • Date they became a UBO.
    • Their shareholding percentage.
  • Companies that fail to register by Dec. 31, 2022, may face administrative fines or other penalties.

BAL Analysis: The Qatari government requires companies to compete UBO registration to help prevent fraudulent activity. Companies are reminded that UBO registration is mandatory for all businesses operating in Qatar.

This alert has been provided by the BAL Global Practice Group. For additional information, please contact berryapplemanleiden@bal.com.

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