Compliance

ESR Notification for the entities having financial year ending 30^th June 2022 are to be filed by 31^st December 2022.

The National In-Country Value Program (ICV) aims to enable the Ministry of Industry and advanced technology to improve the performance and sustainability of the industrial sector, by increasing the contribution of local industries.

All the Entities in UAE doing that Relevant activity having financial year ending 31^st March must submit ESR Notification to be filed by 30^th Sep 2022.

The Ministry of Economy (MOE), UAE has prepared comprehensive plans for implementation and compliance with the requirements of Federal Decree Law No. (20) of 2018 concerning AML and CFT.

Tax Residency Certificate is an official certificate which is issued by MoF for eligible government entities, companies and individuals to take advantage of agreements of double taxation.

The Cabinet Decision No. 57 of 2020 concerning the Economic Substance Requirements (ESR) Filing should be mandates for the entities in UAE doing that Relevant activity.

ICV Certificate is issued to certified suppliers. The National In-Country Value (ICV) Program is a UAE government program initiated by ADNOC to support the Ministry of Industry.

Money Laundering is the illegal process of making large amounts of money generated by a criminal activity, such as drug trafficking or terrorist funding, appear to have come from a legitimate source.

The UBO is the person who, directly or indirectly, owns and controls a company. In other words, an individual should be considered as a UBO, if they hold at least 25% shares or voting rights.

Here, we are presenting you with the process involved in filing information pertaining to the Ultimate Beneficial Owner (UBO) in United Arab Emirates (UAE):