Compliance Services in Dubai
It’s essential for businesses to comply with the latest regulations of a market. However, these regulations keep on changing, hence requiring the companies to update their compliance in particular, Anti-Money Laundering (AML) Service in Dubai. It is a time-consuming process to develop compliance standards with the new regulations that keep on evolving. We use a variety of tools and methodologies and our expert team to understand the rules and regulations governing UAE businesses and can help you in developing set of policies and procedures to achieving regulatory compliance.
Anti-Money Laundering (AML)
Anti-Money Laundering (AML) Service in Dubai
Protecting your organization from financial crime is a complex task that requires multiple areas of focus and expertise.
At JRB, we improve your ability to meet regulatory expectations for financial controls by offering a clear understanding of the complexities involved. Our in-depth experience and network of professionals serve to be a tremendous asset to your business.
Our range of services
- AML/KYC policy & framework
- AML Screening Software solutions
- KYC procedures
- AML review & assessment
- AML Compliance outsourcing
- AML training
Economic Substance Regulations (ESR)
Economic Substance Regulations (ESR) Services in Dubia, UAE
As part of the UAE’s commitment to the OECD Inclusive Framework and in response to an assessment of the UAE’s tax framework by the European Union Code of Conduct Group on Business Taxation, the UAE introduced a Resolution on the Economic Substance.
Economic Substance requires a licensee to prove the substance requirements are met in the UAE. To do so, a licensee is required to evaluate the regulations’ applicability on businesses and classifications.
ESR notification and reporting
Complete guide and assistance with ESR notification filing and subsequent annual reporting.
We assist in identifying whether businesses fall within the scope of the economic substance regulations and evaluation of economic substance filings.
Every business needs to assess relevant activities stipulated in the regulations and implementing provisions to assess the reporting requirements, corporate governance, relevant substantiating records to meet substance requirements and reporting. Our professionals will advise you to fulfill these requirements while maintaining transparency and checking the tax return information submitted worldwide.
Economic substance assessments require substantive proofs against the filling a licensee has made to avoid penalties of non-conformity reporting. Our team has extensive experience working with the assessments to find missing information in business vis-à-vis substance reporting.
Appeals and Litigation
Should a licensee is levied with an administrative penalty due to late submission, incorrect submission or not meeting substance requirements in the UAE, we can assist you with submission of appeal and preparation of responses to National Assessing Authority.
Development of Corporate Governance
A licensee is required to perform core income generating activities in the UAE with respect to each relevant activity and have decision-making in the UAE. We advise our clients in establishing corporate governance and preparation of notices, resolutions and register of shareholders through our secretarial services.
UBO Compliance Services
Cabinet Decision No. (58) of 2020 Regulating the Beneficial Owner Procedures requires every licensee to declare beneficial owners of the business. Every registered business or newly incorporated business is required to provide the licensing authority about the beneficial ownership of a business.
Identification of Beneficial Ownership
The determination of a business’ beneficial ownership becomes complex when shareholders do not exercise control over the business and act in capacity as investor (i.e., active or passive). Our professionals can assist in performing the beneficial ownership test to determine UBO reporting for the business.
Maintenance of Registers
Every legal person is required to maintain registered and inform the registrar on the changes within stipulated time. We can assist you in maintaining these registers and guide you through the notification requirements.
Submission of UBO Declaration
Every legal person is required to submit declaration of UBO before renewing the license on a yearly basis. Our team can assist with the preparation of declaration and the submission to licensing authorities.
Other Regulatory Compliance
- Data Protection
- Anti-Bribery compliance
- Regulatory compliance policies & procedures
- Compliance outsourcing
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