Compliance with corporate tax is one of the most vital pieces for companies that operate in the mainland of the UAE. The regime was introduced under the Federal Decree-Law No. 47 of 2022 and applies to most businesses registered with the Department of Economic Development (DED). Understanding how corporate tax works will help new and … Read more
Money laundering remains one of the most significant risks for global economies, and the UAE has made strong moves to protect its financial system from abuse. In line with recommendations from the Financial Action Task Force (FATF), the country introduced Federal Decree-Law No. 20 of 2018 on Anti-Money Laundering and Combatting the Financing of Terrorism … Read more
The Dubai Virtual Assets Regulatory Authority (VARA) imposed a fine against an operating Virtual Asset Service Provider (VASP) for non-compliance with anti-money laundering rules, lack of governance, and exercising activities outside the scope of its approved license. It is an important reminder that even licensed virtual asset companies are expected to comply strictly with money … Read more
When businesses or individuals in the UAE seek to resolve legal disputes, one of the key factors in obtaining a fair and accurate judgment is the appointment of the appropriate court expert. Court specialist play an essential role in assisting judges by providing specialized knowledge across a wide range of fields, including finance, construction, medicine, … Read more
Anti-Money Laundering (AML) compliance is a critical legal requirement for businesses in the UAE under Federal Decree-Law No. 20 of 2018 on AML and Combating the Financing of Terrorism (AML-CFT Law). Aligned with FATF standards, the law safeguards the UAE’s position as a global financial hub while protecting its economy from financial crime. Noncompliance can … Read more
Money laundering is a complex crime where illicit funds are transferred through various phases to make them appear legal. The Financial Institutions (FIs) in the UAE will have to identify such phases to effectively identify and reduce risk. This article will outline the three main phases of Money Laundering (ML): Placement, Layering, and Integration as … Read more
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