Compliance Services
Professional Support for Business Compliance in Dubai
Our compliance team helps you understand and adhere to various regulatory requirements. We provide full guidance for businesses in Dubai.
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Compliance Services
We have a dedicated team of professionals who will assist you with the UAE’s regulatory requirements, including Economic Substance Regulations (ESR) and Ultimate Beneficial Owner (UBO), ensuring compliance, accuracy, and reliable guidance.
Your Guide to Business Compliance Services in UAE
Running a business in the UAE can be challenging. This is because many complex laws and regulations exist. This is where business compliance services come in. A good compliance service ensures your practices are legal and correct. We also keep you up-to-date on the latest changes in the law.
What Is Business Compliance?
Business compliance is the process of ensuring that your business practices follow the law. This involves knowing all relevant laws and regulations. You must also take steps to adhere to them. Keeping track of all the different laws can be difficult, but a good business compliance service can make things easier.
Why Do I Need Business Compliance Services?
If you are running a business in the UAE, you must have a reliable business compliance service. The reason for this is clear: the UAE has several complex laws. If you are not compliant, you could face serious penalties. These can be much stricter than in other countries. Penalties can include fines or even imprisonment.
What Do I Need to Know About Business Compliance Services in UAE?
There are many things you should know about business compliance services in the UAE. It is important to make sure the service you choose is right for your business. Important questions to ask a potential compliance team should include: What services do you offer? Are you familiar with UAE law? How often do you update clients? These questions will help you choose the right partner.
How Can BizVibez Compliance Services Help?
Our team provides a full business compliance service to help guide you through complex laws. We will keep you updated on any changes to the law. This ensures you will not be caught out by unexpected changes. Additionally, we can assist with other areas of compliance, such as registering employees with MOHRE, obtaining a trade license, and filing tax returns.
UBO and ESR: What You Need to Know
Economic Substance Regulations (ESR)
Economic Substance Regulations (ESRs) require companies to maintain a strong UAE presence. This shows that your company’s financial status is transparent and proves that off-shore accounts are not being abused. If your company earns income from any "Relevant Activities," you must complete annual filing. Otherwise, your company could face penalties.
The law applies to all individual UAE entities, regardless of their size. If your company conducts any of the "Relevant Activities," it must file within six months before the end of the financial year. You will disclose which activities were conducted, and you will also state whether or not this income was taxed outside the UAE. Furthermore, you must prove your company has adequate economic substance.
Our team can help you check whether or not you are meeting the Economic Substance Tests. If you meet the requirements, we can also help you file the ES Notification and ES Report.
Ultimate Beneficial Owners (UBO)
An Ultimate Beneficial Owner (UBO) is the main beneficiary when a company originates a transaction. Generally, this is the person that owns or manages their own company. To stay compliant, you must register your UBOs. The UBO has the right to vote, own, or control at least 25% shareholding in the company, either through direct or indirect ownership.
Regulators have been targeting money laundering and terrorism financing. UBO regulations are now in place to ensure you know who you are doing business with. By working with our team, you can register your UBO easily. Our compliance service helps you avoid fines and penalties from the government.
The Importance of Business Compliance
If you are looking for the best business compliance services in Dubai, BizVibez can help. We have a team of professionals who are knowledgeable about the laws and regulations in the UAE. Our team can help your business stay compliant, avoid penalties, and operate smoothly. With expert guidance, you gain peace of mind knowing that every process, from registration to reporting, is handled with precision, efficiency, and complete transparency.