My company's ownership changed — how fast do I need to update the UBO register?

Many business owners assume that submitting Ultimate Beneficial Owner (UBO) information is a one-time filing done at incorporation. In reality it is an ongoing obligation: under Cabinet Resolution No. 109 of 2023 (in force since 16 November 2023), every company must keep its beneficial ownership register current and notify its licensing authority or the relevant registrar of any change or amendment to beneficial ownership or control information within just 15 days of the change occurring, or of the company becoming aware of it.

The events that trigger this 15-day clock are common ones: a new partner joining or an existing one exiting, a share transfer, a change in the person exercising effective control, a change of service agent or manager under some structures, or even a change further up an ownership chain when a shareholder is itself a corporate entity. The consequences of missing the deadline are not trivial — a first violation brings a written warning with a correction period, later violations carry fines that can run into tens of thousands of dirhams, escalating to license suspension for repeated non-compliance. RASEEKH tracks any change in your ownership structure as it happens and files the register update before the clock runs out.