+971 425 7360 Sharjah Media City Free Zone (SHAMS), Sharjah, UAE info@yourofficepartners.com

OUR APPROACH

1. Discovery Call

We conduct a first meeting to clearly understand your business specificities and evaluate your compliance obligations.

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2. Quotation preparation

Your Office Partners experts will diligently create a custom made proposal to perfectly suit your business’ specificities.

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3. Starting operations

Once the quotation is accepted and onboarding done, Your Office Partners will start gathering relevant documentation.

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4. Follow-up

Your Office Partners will then regularly inform you about compliance progress and status.

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Compliance in the UAE

The UAE's compliance history reflects its commitment to aligning with global standards and fostering a secure business environment. Over the years, the nation has introduced pivotal regulations, including anti-money laundering (AML) laws and economic substance regulations (ESR). These measures aim to enhance transparency and accountability, attracting international businesses.

By implementing strict compliance frameworks, the UAE solidifies its reputation as a trustworthy hub for global commerce, ensuring long-term growth and stability.

Compliance services

01.

The process of ensuring effective ESR compliance involves several key components. First, an ESR compliance assessment is conducted to evaluate the current status and identify any potential gaps. Following this, a comprehensive compliance strategy is developed and implemented to address these gaps and ensure adherence to relevant regulations. Reporting and documentation play a crucial role in this process, as they provide a clear record of compliance efforts and outcomes. Finally, ongoing compliance support is essential to maintain adherence over time, allowing organizations to adapt to any changes in regulations or operational needs. Position this section in between section 1 and 3 and let section 1 and 3 touch on the side. Ensure that you incorporate elegant animations for the buttons. When users hover over them, an underline should gradually appear.

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02.

Your Office Partners offers comprehensive AML solutions ensuring compliance with UAE's stringent regulations. Our services include risk assessment, policy development, staff training, and ongoing monitoring to detect suspicious activities. By partnering with us, businesses reinforce their integrity, safeguarding against financial crimes while fostering a trustworthy operational environment.

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03.

Our Ultimate Beneficiary Owner (UBO) services provide comprehensive support to ensure compliance with UAE regulations. We specialize in identifying and verifying the ultimate owners of your business, helping you maintain accurate records and meet legal obligations. By safeguarding your company against financial crimes, we promote trust and transparency, ensuring your business operates with integrity in a regulated environment. Let us help you navigate the complexities of UBO requirements effectively.

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Mohamed Saleem

Founder

  • Federal Tax Agent accredited from the UAE Federal Tax Authority
  • Certified Enterprise Risk Manager, CPD (UK) certification ISO 31000
  • Anti-Money Laundering certified, Risk Assessment and Enhanced Due Diligence
  • SAR/STR Compliance
  • Certified Management Accountant
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FAQs

Frequently Asked Questions

Compliance in the UAE is crucial as it aligns businesses with international standards, fostering a secure and transparent business environment. It helps prevent financial crimes, such as money laundering, and enhances trust among investors and partners. Adhering to regulations ensures legal protection, supports sustainable growth, and reinforces the UAE's reputation as a global business hub.

Outsourcing compliance is a prudent decision for businesses as it ensures adherence to complex regulations efficiently and cost-effectively. By engaging external experts, companies gain access to specialized knowledge without the overhead of maintaining an in-house team. This approach mitigates risks, frees internal resources to focus on core activities, and enhances operational flexibility. Additionally, it provides assurance of up-to-date practices in a rapidly changing regulatory landscape, safeguarding the company's reputation and integrity.

Non-compliance with ESR, UBO, and AML regulations in the UAE poses significant risks for businesses. For ESR, failing to demonstrate substantial economic activity can lead to hefty fines, loss of business licenses, and reputational damage, making it difficult to attract investors. Non- compliance with UBO regulations can result in penalties, legal action, and increased scrutiny from regulatory bodies, impacting business operations and credibility. For AML, the risks are even more severe, including substantial fines, criminal charges, and potential imprisonment for involved parties. Additionally, non-compliance can lead to business relationships being terminated by partners wary of reputational damage. Overall, failing to comply with these regulations undermines a company’s integrity, disrupts operations, and exposes it to severe legal and financial consequences, ultimately diminishing its standing in the global market.

ESR, UBO, and AML are crucial compliance frameworks in the UAE. Economic Substance Regulations (ESR) ensure that businesses engaged in relevant activities have substantial operations in the UAE, aligning with international tax standards. Ultimate Beneficiary Owner (UBO) regulations require companies to identify and disclose individuals who ultimately own or control them, enhancing transparency. Anti-Money Laundering (AML) laws combat financial crimes by mandating risk assessments, policy development, and continuous monitoring to prevent illicit activities, ensuring a secure business environment.

Federal Tax Agent accredited from the UAE Federal Tax Authority Certified Enterprise Risk Manager, CPD (UK) certification ISO 31000 Anti-Money Laundering certified, Risk Assessment and Enhanced Due Diligence SAR/STR Compliance Certified Management Accountant Under the UAE's compliance frameworks, several key requirements must be met. For Economic Substance Regulations (ESR), businesses engaged in relevant activities must demonstrate substantial presence and conduct within the UAE, ensuring alignment with international tax standards. This includes meeting specific criteria for staff, premises, and expenditure. Ultimate Beneficiary Owner (UBO) regulations mandate companies to identify and disclose individuals who ultimately own or control them, enhancing transparency and preventing illicit activities. This involves maintaining detailed records of direct and indirect ownership. Anti-Money Laundering (AML) laws require businesses to implement comprehensive risk assessments, develop robust policies, and conduct ongoing monitoring to detect and prevent money laundering activities. Compliance involves regular training, reporting suspicious activities, and adhering to regulatory updates to maintain a secure and transparent business environment.
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