Understanding Re-KYC for AML Compliance
KYC is the basic step for regulatory compliance. Especially in AML, it helps assess and manage the risk of financial crimes on a large scale. KYC (Know Your Customer) and AML (Anti-Money Laundering) are crucial for preventing financial crimes. KYC and Re-KYC processes continuously safeguard your clients and business by ensuring accurate and up-to-date customer […]
Know everything about the American Tax UAE and Save Your Dollars
The “American tax UAE” situation for Americans has more to do with the IRS than the UAE. For Americans in the UAE, being in the country impacts their taxes primarily through US tax obligations. Dubai, the most populous city in the UAE, offers unparalleled experiences with its iconic skyscrapers, massive shopping malls, and bustling airports. […]
The Ultimate Guide to Outsourced CFO Services in the UAE
In this era, where flexibility and adaptability have been redefined for companies, outsourcing leadership roles is a channel worth exploring. Leadership roles require specific skill sets, qualifications, and a rooted network in the field. And when it comes to CFO services, the expertise needed is critical, yet hiring someone with such skills and experience can […]
Everything About UAE’s Law Framework to Combat Money Laundering and Terrorism Financing
The United Arab Emirates (UAE) has been making significant progress in fortifying its financial security and integrity by combating money laundering and terrorism financing. These efforts align with global initiatives and underscore the UAE’s commitment to being a secure and dependable place for international business and finance. The Role of the UNSC and UAE in Implementing […]
DO YOU NEED A FORENSIC OR INTERNAL AUDITOR? KNOW MORE, KNOW BETTER!
An audit, in its most simple definition, is an inspection. An evolved definition of the function is a systematic inspection of financial operations. Every business requires audits to run its systems consistently. But it’s not a one–size–fit–situation. Depending on the size, structure, and objective, the business must conduct various audits. Understanding the nuances between different […]
Designated Non-Financial Businesses and Professions DNFBPs and The critical need for AML services
What are DNFBPs? Designated Non-Financial Businesses and Professions (DNFBPs) are not primarily financial entities, but they are notoriously vulnerable to money laundering and terrorist financing risks. This vulnerability enhances the urgency for DNFBPs to engage with specialised Anti-Money Laundering (AML) services for their protection. DNFBPs are businesses and professions that are subject to regulation due to […]
Benefits of Forensic Auditing for UAE Companies
Forensic auditing is a specialised field of accounting that investigates potential financial discrepancies. While primarily associated with detecting financial manipulation, it should also be used to assess compliance with financial regulations, solve disputes regarding financial matters, and prevent fraud by identifying vulnerabilities in financial systems before issues arise. Thus, it extends beyond revealing fraud to […]
Closing Up Shop? A Guide to Creditors’ Voluntary Winding up in the UAE
The decision to close a business in the UAE has to be intentional. Properly managing the expectations of creditors and shareholders through transparent communications is crucial for maintaining trust during the Winding down process. Among the few options, Creditors’ Voluntary winding up offers a legal and transparent way to wind down your operations. In this […]
How to set up the branch of a foreign company in Dubai. The A-Z
When it comes to business, Dubai is the Godfather. The Hub has it all: Global Connectivity, favourable Tax Policies, a Supportive Business Ecosystem, and Robust Infrastructure. As a company, it is only natural to think of Dubai as one of the regions in which to do your business. Setting up your business as a branch […]
Everything you need to know about ESMA Certification in the UAE
Certifications are critical for businesses. They are not just frames that decorate the company’s walls but the ultimate test of quality and compliance. Among the most sought-after certifications is ESMA – Emirates Authority for Standardization & Metrology. For businesses in the United Arab Emirates (UAE), compliance with the Emirates Authority for Standardization & Metrology (ESMA) […]
