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UAE Regulatory

Companies in UAE are required to submit substance notifications in a max 6 months and economic reports in max 12 months from the end of the fiscal year, failure to which attract sanctions

The UAE Economic Substance Regulations were introduced on 30th April 2019 requiring companies and other business forms registered in UAE that carry on one or more “Relevant Activities” to have economic substance in UAE in relation to those “Relevant Activities” and comply with “Annual Information Submission” and “Economic Substance Report”.

ESR applies to all forms of business including free zone carrying on any of the following relevant activities:

    • Banking Businesses
    • Insurance Businesses
    • Investment Fund Management Businesses
    • Lease-Finance Businesses
    • Headquarters Businesses
    • Shipping Businesses
    • Holding Company Businesses
    • Intellectual Property Businesses
    • Distribution and Service Centre Businesses

How can AKW help?

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How we can help?

Financial success of any person or organization

GRC Credentials

Relevant Projects Undertaken by The Team

AML / CFT Policies & Procedures for a Gold Refinery and Ensuring Compliance with Internaitonal Standards

    • Assist the refinery in establishing a team to ensure compliance with international standards.
    • Act as Compliance Officer for the Refinery and make decisions on opening of new accounts
    • Regularly improvise and implement new technologies and advanced methodologies in the Compliance sector to ensure
    • Obtain International Supply Chain Certifications from Responsible Jewellery Council for COC and COP
    • Obtain International Accreditation including UAE Good Delivery, ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, ISO 10002:2014

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