DDP – Accounting & Bookkeeping Service in UAE

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Compliance Services in Dubai, UAE

Safeguard Your Business with Expert Compliance Solutions

At DDP Accounting & Bookkeeping, we specialize in comprehensive compliance services tailored to meet the unique regulatory needs of businesses in Dubai, UAE.

What Are Business Compliance Services?

Business compliance services in UAE  encompass a range of activities aimed at ensuring that organizations operate within the framework of applicable laws and regulations. This involves a deep understanding of legal requirements and the implementation of processes and policies that uphold these standards.

Key Aspects of Business Compliance:

  • Adherence to Laws: Ensuring that all operations comply with local and international regulations.
  • Risk Management: Identifying potential compliance risks and mitigating them through strategic planning.
  • Ongoing Monitoring: Regularly assessing compliance measures to adapt to any changes in laws or regulations.

1. AML Compliance Services in Dubai

With the UAE’s commitment to combating money laundering and terrorism financing, our AML Compliance Services in Dubai are essential for businesses in all sectors. We offer:

  • Customer Due Diligence (CDD): Comprehensive assessments to identify and verify customers.
  • Suspicious Transaction Reporting: Immediate reporting of any transactions that raise red flags to the Financial Intelligence Unit.
  • Training and Awareness: Customized training programs to ensure staff are aware of AML regulations and procedures.

Key Penalties for Non-Compliance:

  • Fines ranging from AED 50,000 to AED 5,000,000 depending on the severity of the violation.

2. UBO Compliance Services in Dubai

Under Cabinet Decision No. 58 of 2020, all UAE companies must identify and register their Ultimate Beneficial Owners (UBOs). Our UBO Compliance Services in Dubai include:

  • Register Maintenance: Ensuring accurate records of UBOs and shareholders are maintained.
  • Filing with Authorities: Timely submission of UBO data to relevant licensing authorities to avoid penalties.

Compliance Requirements:

  • Companies must update their UBO register within 15 days of any changes.

Penalties for Non-Compliance:

  • Fines up to AED 100,000 and potential license suspension for repeated violations.

3. ESR Compliance Services in Dubai

Our ESR Compliance Services in Dubai help businesses meet the requirements of the Economic Substance Regulations, aimed at ensuring real economic activity in the UAE. We assist with:

  • Determining Relevant Activities: Identifying which of your business activities fall under the ESR.
  • Reporting Obligations: Guidance on preparing and submitting necessary reports to demonstrate compliance.

Relevant Activities Include:

  • Banking, Insurance, Investment Fund Management, and Intellectual Property Business.

4. Country by Country Reporting (CbCR)

As part of the OECD’s Base Erosion and Profit Shifting (BEPS) initiative, our Country by Country Reporting services ensure your multinational enterprise complies with local and international reporting standards.

Key Requirements:

  • Mandatory for UAE-headquartered MNEs with consolidated revenues exceeding AED 3.15 billion.
  • Reports must include global revenue, profits, and tax details for each jurisdiction.

Deadlines:

  • CbC Reports must be submitted within 12 months of the reporting year-end.

Why Choose DDP for Compliance Services in UAE?

  • Expertise in Compliance Services in UAE: Our team is proficient in navigating the complexities of local and international regulations.
  • Customized Solutions: We tailor our services to meet the unique needs of your business, ensuring compliance without compromising operational efficiency.
  • Proactive Communication: We provide regular updates on regulatory changes and compliance requirements to keep your business informed and prepared.
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