How do UAE gaming operators identify the beneficial owner of a corporate customer?
When a customer is a legal person, a gaming operator must identify the beneficial owner and take reasonable measures to verify that identity using reliable, independent sources. The primary test is the natural person who ultimately owns or controls, individually or jointly, an interest of 25 percent or more in the entity.
If no such person can be identified, or there is doubt that the owner is the true beneficial owner, the operator must identify the natural person who exercises control by other means. Where even that fails, the operator identifies the natural person holding a senior management position. For legal arrangements such as trusts, the operator identifies the settlor, trustee, protector, and beneficiaries. The reasoning behind each determination should be recorded.
Legal Reference (UAE):
· Cabinet Resolution No. 134 of 2025 (Executive Regulations), Article 10 - beneficial owner identification and the 25 percent ownership or control test.
· Federal Decree-Law No. 10 of 2025, Article 19(1)(b) - customer due diligence measures.
For more details, consult the full text of Cabinet Resolution No. 134 of 2025 or seek guidance from your AML compliance officer.