ADGM, DIFC, UAE, Qatar and GCC Business Consultant | Company Formation Specialist | PRO Service | Bank Account Solution | Content writer | Product Registration
Things you should be aware after forming a company in #UAE. Today market is all about selling license and not about informing the requirements and things to be take care while running the business. The UAE has multiple laws and requirements depend on the business nature. Below are the few things which also needed to be explain to clients depending on the business nature. - Corporate #Tax Mandatory required for every company in UAE -VAT Registration Not mandatory but if you fall as per the guidelines of FTA, then the company needs to register and fill the VAT quarterly. -AML Registration and Regulation This is mandatory for the companies who are involved in dealing higher risk of exposure to money laundering such as Dealers in precious Metals and Stones, Real Estate Agents and Brokers, Trust and Corporate Service Providers, Auditors & independent Accountants , Lawyers, Notaries & Other Legal Professionals -ESR (Economic Substance Regulations) This is required for companies who is looking to prove their economic presence in the UAE. Companies such as Banking Business, Insurance Business, Investment Fund management Business, Lease – Finance Business, Headquarters Business, Shipping Business, Holding Company Business, Intellectual property Business (“IP”), Distribution and Service Center Business -TRC (Taxation Residency Certificate) The TRC is a certificate issued for eligible government entities, companies and individuals to take advantage of agreements of double taxation avoidance on income to which the UAE is a signatory. -UBO (Ultimate Beneficial owner)Filling UBO filling is required for individuals with ownership of at least 25% shares and voting rights of a company. This is mandatory requirement for the companies to register for UBO. There are many things a consultant needs to be aware apart from the above few things. Lets prioritize selling solutions, not just only license. If you looking for company to be managed by One Consultant, please feel free to reach Start your dream, Start your business. Mobile - 0559052021 Email - ajmal.0793@gmail.com #oneconsultant #esr #ubo #aml #corporatetax #vat #cosec #companyformation. PS: IF above content has any information related to above, please feel free to add yours in comments. One Consultant
Brilliant write up
Well explained Quite informative👌👌
Great advice
Thank you for sharing
Insightful! Thanks for continuously sharing useful information regarding company formation and business setup in Dubai and UAE
Manager Business Development at Confidential Audit/VAT/Accounting/Excise Tax/Company Formation/ Liquidation/PRO
2moWould like to Add The fines for CT Registration is AED 10,000 which the FTA has started issuing many of the companies established in the month of January who failed to do the registration have got the penalty. At the same time when we talk about GOAML its also mandatory to have the complete Policy and Procedure as per the guidelines prepared up or else their are several issue which a company can face on not having it and filing proper TFS reporting on monthly basis.