Beneficial OwnershipUltimate Beneficial Owner (UBO)Legal EntitiesTransparency
This ADGM Guidance Note provides detailed instructions on identifying beneficial owners for various legal entities registered within the ADGM jurisdiction. It outlines specific tests (Ownership, Control, Management) to determine Ultimate Beneficial Owners (UBOs) for companies, limited liability partnerships, limited partnerships, foundations, and trusts, aiming to enhance transparency and compliance with beneficial ownership requirements.
Key requirements
- Determine the UBO of a Company using the Ownership Test, Control Test, and Management Test.
- Identify beneficial owners for Limited Liability Partnerships through Ownership, Control, and Management Tests.
- Ascertain beneficial owners for Limited Partnerships by applying Ownership, Control, and Management Tests.
- Determine beneficial owners for Foundations and DLT Foundations.
- Identify beneficial owners for Trusts.
Applies to: entities registered with the ADGM Registration Authority, including Companies, Limited Liability Partnerships, Limited Partnerships, Foundations, DLT Foundations, and Trusts.