§Article 1 — Definitions
In application of the provisions of this Resolution, the words and expressions set forth herein shall bear the meanings ascribed to them, unless the context otherwise requires:
State : United Arab Emirates.
Ministry : Ministry of Economy.
Minister : Minister of Economy.
Decree-Law : Federal Decree-Law No. (20) of 2018 Concerning Combating
Money Laundering and the Financing of Terrorism and Illegal Organisations, as amended.
Executive : Cabinet Resolution No. (10) of 2019 concerning the Executive Regulations Regulations of Federal Decree-Law No. (20) of 2018 Concerning
Combating Money Laundering and the Financing of Terrorism and Illegal Organisations, as amended.
Cabinet Resolution of 2023 Concerning the Administrative Penalties imposed on Violators of the provisions of Cabinet 1
Registrar : The Competent Authority supervising the Register of commercial
names of different establishments Registered in the State. Concerned : Competent Government Authorities implementing any of the Authorities provisions of the Law by Decree and the Executive Regulations. Real : The Natural person to whom ultimate ownership is transferred or Beneficiary who exercises ultimate control over the Legal Person directly or through a chain of ownership or control, or other indirect means. It also means the natural person on whose behalf transactions are conducted or who exercises ultimate effective control over a Legal Person, as specified in accordance with the text of Article (5) Cabinet Resolution No. (109) of 2023 referred to.
Board : Any Natural Person acts pursuant to the directions, instructions, or Nominee will of another person, who shall be officially appointed or holds a Member position in Legal Person and is usually a representative of Shareholders, members, or any other interested party.
Senior : Power of Legal Person in Decision-Making.
Management Beneficiary : Private Real Beneficiary Register of Legal Person that includes all Register their real data.
Partners or : Private Partners or Shareholders Register of Legal Person that Shareholders includes all their information.
Written Notice : Official Notice sent to the Legal Person or their representative by
legally available means.
§Article 9 — Publication and Entry into Force
This Resolution shall be published in the Official Gazette and shall enter into force as of the day following its publication date.
Mohammed Bin Rashid Al Maktoum Prime Minister
Issued by Us:
On: 02 Jumada II 1445 A.H.
Corresponding to: 15 December 2023 AD
Cabinet Resolution of 2023 Concerning the Administrative Penalties imposed on Violators of the provisions of Cabinet 4
Table Attached to Cabinet Resolution No. (132) of 2023 Concerning the Administrative Penalties imposed on Violators of the provisions of Cabinet Resolution No. (109) of 2023 Concerning the Regulation of Real Beneficiary Procedures
Legal Ref. The Two Administrative Penalties SN Violation Resolution
First Time Second Time Third Time No. (109) of 1 The Legal Article (6) A Written (20,000) (40,000) forty Person fails and (7) Notice to the twenty thousand AED, to correctly Legal Person to thousand AED along with Register the comply within and a Notice to notifying the Real (15) fifteen the Legal Legal Person to Beneficiary days from the Person to correct the details of the date of the correct the Violation.
Real Notice. 132. Violation Beneficiary. within (15)
fifteen days from the date of the Notice to the Violator.
2 Fail to Article (8) A Written (20,000) (40,000) forty
include the Notice to the twenty thousand AED, data Legal Person to thousand AED along with contained in comply within and a Notice to notifying the Clause (2) of (15) fifteen the Legal Legal Person to Article (8) of days from the Person to correct the Cabinet date of the correct the Violation.
Resolution Notice. Violation
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No. (109) of within (15) 2023 fifteen days referred to in from the date of the Real the Notice to Beneficiary the Violator.
Register.
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Cont. Table Attached to Cabinet Resolution No. (132) of 2023 Concerning the Administrative Penalties Imposed on Violators of the Provisions of Cabinet Resolution No. (109) of 2023 Concerning the Regulation of Real Beneficiary Procedures
Legal Ref. The Two Administrative Penalties SN Violation Resolution
First Time Second Time Third Time No. (109) of 3 The Legal Article (8/1) A Written (50,000) fifty (100,000) one Person does Notice to the thousand AED hundred not comply Legal Person to and a Notice to thousand AED, with comply within the Legal Person along with creating a (30) fifteen to correct the notifying the Real days from the Violation within Legal Person to Beneficiary date of the (30) thirty days correct the Register and Notice. from the date of Violation. maintain its the Violation.
data.
4 The Legal Article (8/1) A Written (15,000) fifteen (30,000) thirty
Person does Notice to the thousand AED thousand AED, not comply Legal Person to and a Notice to along with with comply within the Legal Person notifying the updating a (15) fifteen to correct the Legal Person to Real days from the Violation within correct the Beneficiary date of the (15) fifteen days Violation.
Register. Notice. from the date of the Violation.
Cabinet Resolution of 2023 Concerning the Administrative Penalties imposed on Violators of the provisions of Cabinet 7
Cont. Table Attached to Cabinet Resolution No. (132) of 2023 Concerning the Administrative Penalties Imposed on Violators of the Provisions of Cabinet Resolution No. (109) of 2023 Concerning the Regulation of Real Beneficiary Procedures
Legal Ref. The Two Administrative Penalties SN Violation Resolution No. First Time Second Time Third Time
(109) of 2023 5 The Legal Article (10) A Written Notice (40,000) forty (80,000) eighty Person does not to the Legal thousand AED thousand AED, comply with Person to and a Notice to along with providing the comply within the Legal Person notifying the data referred to (30) thirty days to correct the Legal Person to in Article (10) of from the date of Violation within correct the the the Notice. (15) fifteen days Violation. aforementioned from the date of Cabinet the Notice to the Resolution No. Violator.
(109) of 2023 related to the data of the Director or Board Nominee Member to the Registrar.
6 The Legal Article (10) – (50,000) fifty (100,000) one Person fails to thousand AED hundred create a Partners and a Notice to thousand AED, or Shareholders the Legal Person along with Register. to correct the notifying the
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Violation within Legal Person to
(30) thirty days correct the from the date of Violation. the Violation.
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Cont. Table Attached to Cabinet Resolution No. (132) of 2023 Concerning the Administrative Penalties imposed on Violators of the provisions of Cabinet Resolution No. (109) of 2023 concerning the Regulation of Real Beneficiary Procedures
Legal Ref. The two administrative penalties SN Violation Resolution
First Time Second Time Third Time No. (109) of 2023 7 The Legal Article (10) A Written (15,000) (30,000) thirty Person fails to Notice to the fifteen thousand AED, update the Legal Person thousand AED along with Partners or to comply and a Notice to notifying the Shareholders within (30) the Legal Legal Person to Register within thirty days Person to correct the
(15) fifteen days from the date correct the Violation. from the date of of the Notice. Violation the change or within (15) becoming fifteen days aware of it. from the date
of the Violation.
8 The Legal Article (10) A Written (30,000) thirty (60,000) sixty
Person does not Notice to the thousand AED thousand AED, maintain data Legal Person and a Notice to along with details of each to comply the Legal notifying the Partner or within (30) Person to Legal Person to Shareholder or thirty days correct the correct the does not from the date Violation Violation. include the data of the Notice. within (15)
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contained in fifteen days Clause (1) of from the date Article (10) of of the Notice to Cabinet the Violator.
Resolution No.
(109) of 2023 referred to in the Partners or Shareholders Register.
9 The Legal Article A Written (15,000) (30,000) thirty Person fails to (11/1): Notice to the fifteen thousand AED, provide the data Legal Person thousand AED along with of the Real to comply and a Notice to notifying the Beneficiary within (30) the Legal Legal Person to Register and the thirty days Person to correct the Partners or from the date correct the Violation. Shareholders of the Notice. Violation Register to the within (15) Registrar and fifteen days fails to preserve from the date these records of the from damage, Violation.
loss or destruction.
10 Legal Person Article A Written (15,000) (30,000) thirty fails to provide (11/2): Notice to the fifteen thousand AED, any additional Legal Person thousand AED along with data requested to comply and a Notice to notifying the by Registrar within (30) the Legal Legal Person to within (14) thirty days Person to
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fourteen days from the date correct the correct the from the date of of the Notice. Violation Violation.
the request. within (15)
fifteen days from the date of the Violation.
11 The Legal Article (15) A Written (50,000) fifty (100,000) one Person fails to Notice to the thousand AED hundred disclose the Legal Person and a Notice to thousand AED, classes of the to comply the Legal along with Real Beneficiary within (30) Person to notifying the in Complex thirty days correct the Legal Person to Structures. from the date Violation correct the of the Notice. within (30) Violation.
thirty days from the date of the Violation.
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Legal Ref. The Two Administrative Penalties SN Violation Resolution
First Time Second Time Third Time No. (109) of 2023 12 The Legal Article A Written Notice (10,000) ten (20,000) twenty Person fails to (11/4) to the Legal thousand AED thousand AED, provide the Person to comply and a Notice to along with Registrar with within (30) thirty the Legal Person notifying the the name of a days from the to correct the Legal Person to natural person date of the Violation within correct the residing in the Notice. (15) fifteen days Violation. State who is from the date of authorised to the Violation.
disclose the data or information required by the Law by Decree and its Executive Regulations.
13 The Legal Article A Written Notice (15,000) fifteen (30,000) thirty Person fails to (11/6) to the Legal thousand AED thousand AED, disclose when Person to comply and a Notice to along with issuing shares or within (30) thirty the Legal Person notifying the stakes in the days from the to correct the Legal Person to names of date of the Violation within correct the persons or Notice. (15) fifteen days Violation. members of from the date of management to the Violation.
the Registrar
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within (15) fifteen days from the date of issuing the shares or stakes.
14 The Legal Article A Written Notice (5,000) five (10,000) ten Person subject (11/7): to the Legal thousand AED thousand AED, to dissolution or Person to comply and a Notice to along with liquidation, fails within (30) thirty the Legal Person notifying the to handover the days from the to correct the Legal Person to Liquidator the date of the Violation within correct the Real Beneficiary Notice. (15) fifteen days Violation. Register, the from the date of Partners or the Violation.
Shareholders Register within
(30) days from the Liquidator appointment.
15 The Liquidator Article (100,000) One fails to (11/8): hundred maintain the thousand records and all dirhams.
data contained in Resolution No. (109) of 2023 - referred to, for a period of (5)
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years from the date of dissolution, liquidation or cancellation.
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