Compliance Services

Compliance Services

Compliance Services

The ASK Consultancy: Comprehensive Compliance Services

Let us guide you through the complexities of UAE business regulations. Our team of experts is here to help you understand and comply with various regulatory requirements, ensuring your business operates smoothly and remains fully compliant.

Start Your Compliance Journey with The ASK Consultancy.

With a dedicated team of specialists, we provide guidance through the UAE’s regulatory landscape, covering essentials like goAML compliance and Ultimate Beneficial Owner (UBO) registration.
 

Our Compliance Services

01

goAML Compliance

goAML is now a crucial requirement for businesses in the UAE to combat money laundering and financing of terrorism.


Our team assists you in registering with the goAML platform, handling timely suspicious activity reporting, and ensuring complete compliance with UAE financial crime regulations.

02

Ultimate Beneficial Owner (UBO) Registration

To maintain transparency, UAE law mandates the registration of Ultimate Beneficial Owners (UBOs) across all mainland and free zone companies. Certain jurisdictions and government-owned entities may have exemptions.

Our experts will help you complete your UBO declaration, ensuring full compliance with UAE regulations.

Your Guide to Business Compliance in the UAE

Operating a business in the UAE involves navigating numerous laws and regulations, making compliance services essential. A reliable compliance partner like The ASK Consultancy ensures your business practices are lawful and keeps you informed of any regulatory changes.

If you’re seeking dependable compliance services in the UAE, here’s everything you need to know.

What is Business Compliance?

Business compliance involves ensuring that your business practices align with UAE laws. This means understanding relevant regulations and taking proactive steps to meet compliance standards.

 

Given the extensive regulatory framework in the UAE, staying compliant can be challenging. The ASK Consultancy is here to make it easier for you to manage all necessary requirements.

Why Do I Need Business Compliance Services?

The UAE has a complex legal environment, and non-compliance can lead to significant penalties, including steep fines or even imprisonment. Compliance services help you navigate these laws, ensuring your business avoids these risks.

Family & Inheritance Law Services

There is no single standard for business compliance services in the UAE. Here are some important questions to consider when choosing a compliance provider:

These insights can help you determine if a compliance service meets your business’s needs.

Common Compliance Issues in Dubai

Non-compliant practices can lead to severe consequences, from legal repercussions to operational restrictions. Below are some examples of common compliance oversights:

Remaining compliant is crucial to avoid fines and ensure your business operates lawfully.

Consequences of Non-Compliance

In the UAE, non-compliance penalties can be particularly strict. For instance, operating without a valid trade license could lead to fines up to AED 200,000 or imprisonment. Registering all employees with MOHRE and renewing trade licenses on time are essential steps to avoid costly penalties.

The ASK Consultancy Compliance Services

Our services simplify compliance by offering support in employee registration, trade license applications, and tax filing, ensuring that your business adheres to UAE laws.

goAML Compliance Support

The UAE requires all businesses to register with the goAML platform to combat money laundering and terrorism financing.

Our team can manage the entire process for you, from goAML registration to monitoring and reporting suspicious activity.

Steps for goAML Registration

Suspicious Activity Reporting Businesses must monitor transactions and submit Suspicious Activity Reports (SARs) if they detect any unusual transactions. Our team will help you identify qualifying transactions and handle SAR filings.

Compliance Audits goAML compliance may involve audits from the FIU to verify reporting practices. We ensure your transaction records are accurate and compliant, reducing risk.

Penalties for Non-Compliance Failure to comply with goAML requirements can result in fines, business suspensions, or even criminal charges. Our team will ensure you meet all legal obligations to avoid these penalties.

Ultimate Beneficial Ownership (UBO) Compliance

The UAE mandates UBO registration to ensure transparency in business ownership. Here’s how we can help:

 

Identifying Your UBO A UBO generally holds at least a 25% share in the company, with rights to influence business decisions or appoint directors. If no individual meets these criteria, the UBO may be identified as the person with significant control over the company.

 

Registering Your UBO We will manage your UBO registration and declaration, helping you understand the requirements of UAE’s UBO regulations and ensuring all documentation is accurately filed.

Protect Your Business with The ASK Consultancy’s Compliance Expertise

Whether it’s goAML or UBO registration, The ASK Consultancy provides end-to-end compliance solutions that help your business meet UAE’s regulatory requirements and maintain a lawful operation.

 

Book a Consultation Today Get in touch with our compliance experts today to learn more about protecting your business and achieving compliance excellence.