UAE amends bankruptcy law to cover pandemic situations

On August 24, 2020, the UAE issued Cabinet Resolution No. 58 of 2020 on the Regulation of the Procedures Related to Real Beneficiaries (“Decision”). As a result of the Decision, companies are now required to submit ultimate beneficiary (UBO) information to the Registrar by October 27, 2020 (within 60 days from the date of the Decision or within 60 days from the date of a company’s license issuance, whichever comes first. Read More