UBO Filing in Qatar

If you are a business owner or a shareholder in a company in Qatar, you may have heard of the term UBO or Ultimate Beneficial Owner. But what does it mean and why is it important? In this article, we will explain what UBO is, what are the requirements and benefits of UBO filing in Qatar, and how TrustLink can help you with the process.

What is UBO?

UBO stands for Ultimate Beneficial Owner. It is the natural person or entity that ultimately owns or controls a company or a legal arrangement, such as a trust or a foundation. UBO is not necessarily the same as the legal owner or the registered shareholder of a company. UBO is the person or entity that has the final say or influence over the company’s decisions, operations, and activities.

UBO can be determined by various criteria, such as:

• Owning or controlling more than 25% of the shares or voting rights of a company.
• Having the right to appoint or remove the majority of the board of directors or managers of a company.
• Having the ability to exercise significant influence or control over a company.
• Having the ultimate economic interest or benefit from a company.

Why is UBO Filing Important in Qatar?

UBO filing is the process of declaring and registering the UBO information of a company or a legal arrangement with the relevant authorities in Qatar. UBO filing is important for several reasons, such as:

Compliance:

UBO filing is a legal obligation for all companies and legal arrangements in Qatar, as per the Law No. 20 of 2019 on Combating Money Laundering and Terrorism Financing and its executive regulations. Failure to comply with the UBO filing requirements may result in penalties, fines, or sanctions.

Transparency:

UBO filing enhances the transparency and accountability of the corporate sector in Qatar. It helps to prevent and combat money laundering, terrorism financing, tax evasion, corruption, and other illicit activities. It also facilitates the exchange of information and cooperation between the authorities and the private sector.

Trust:

UBO filing builds trust and confidence among the stakeholders of a company or a legal arrangement, such as customers, suppliers, investors, partners, and regulators. It demonstrates the legitimacy and credibility of the business and its owners. It also protects the rights and interests of the UBOs and the shareholders.

How Can TrustLink Help You with UBO Filing in Qatar?

TrustLink is a leading provider of UBO filing services in Qatar. We have a team of experts who can assist you with the entire UBO filing process, from identification to registration. We can help you with:

• Identifying and verifying the UBOs of your company or legal arrangement, using the relevant criteria and documents
• Preparing and submitting the UBO declaration form and the supporting documents to the Ministry of Commerce and Industry (MOCI) or the Qatar Financial Centre (QFC), depending on the jurisdiction of your company or legal arrangement
• Updating and maintaining the UBO information and records, as per the changes and developments in your company or legal arrangement
• Providing you with the UBO certificate and the UBO register, as proof of your UBO filing compliance

By outsourcing your UBO filing services to TrustLink, you can save time and hassle, avoid errors and risks, and ensure compliance and accuracy. You can also benefit from our professional advice and guidance, as well as our competitive and transparent pricing.

Contact Us Today

If you are interested in our UBO filing services in Qatar, please contact us today. We would love to hear from you and discuss how we can help you meet your UBO filing obligations. TrustLink is your best choice for UBO filing services in Qatar. We are committed to providing you with the highest quality of service and satisfaction. We look forward to working with you and helping you comply with the UBO filing requirements. TrustLink is the name you can trust.