Smart Business Creation

AML Compliance Solutions

Money laundering poses a significant threat to economies around the world. In response, the UAE has implemented strict anti-money laundering (AML) policies to safeguard its financial system. The country has adopted a comprehensive AML/CFT (Combating the Financing of Terrorism) regulatory framework to ensure businesses adhere to strict compliance standards.

At Smart Business Creation, we understand the critical importance of AML compliance for financial institutions (FI) and Designated Non-Financial Businesses and Professions (DNFBPs). Our team of experienced professionals offers a wide range of AML consulting services to help your business remain compliant and mitigate the risks of money laundering and terrorist financing.

ESR Filing in UAE

The new Economic Substance Regulations (ESR) for UAE companies were enforced by Cabinet of Minister Resolution No. (31) in April 2019. ESR was introduced to improve the tax framework and ensure that companies maintain a genuine economic presence in the UAE.

Complying with ESR requirements can be challenging, especially for businesses without in-house teams or the required knowledge. Non-compliance may result in penalties ranging from AED 20,000 to AED 400,000 or suspension of your UAE license.

At Smart Business Creation, we provide ESR compliance services to help you avoid such penalties and maintain your company’s reputation.

Why Were Economic Substance Regulations Introduced in the UAE?

The primary goal of introducing ESR in the UAE was to ensure that businesses, particularly multinational organizations, are not shifting profits to the UAE solely to benefit from tax advantages without conducting substantial activities. Companies that register in Dubai solely to exploit the tax laws, without contributing to the country’s economic growth, are being addressed with these regulations.

Overview of UBO Declaration in the UAE

In recent years, the UAE government has implemented stronger measures to combat money laundering and terrorist financing. One of the key regulations is Cabinet Decision No. 58 of 2020 regarding the Regulation of Procedures of the Real Beneficiary. This decision mandates that all companies registered in the UAE, including those in free zones and the mainland, maintain a register of their Ultimate Beneficial Owner (UBO) and submit it to the relevant authorities.

At Smart Business Creation, we help businesses comply with these regulations. Our consultants will assess your company’s ownership structure, prepare the necessary registers, and handle the filing process with the relevant authorities.

Corporate Structuring Services for Seamless Operations

Corporate structuring involves choosing the right business structure or entity type that aligns with your business’s specific needs, such as a holding company, subsidiary, partnership, sole proprietorship, or a local branch. It also involves building a corporate structure that defines the various departments and their relationships to ensure the achievement of business objectives.

Smart Business Creation offers end-to-end business structuring services by assessing your business objectives and requirements. Our expert consultants ensure that your business is configured with the right structure to operate seamlessly while staying compliant.

Trademark Registration in UAE

In the highly competitive business world of the UAE, trademark registration is essential. A trademark represents your company or brand’s identity, so it’s crucial to protect it from counterfeiters who might try to capitalize on your hard-earned reputation. By registering your trademark in the UAE, you legally secure your company and are recognized as the owner of the goods and services associated with that trademark.

Why Choose Smart Business Creation for Trademark Registration Services?

• Trademark search reports, selection, and retention.
• Amendments to registered trademarks.
• Renewal of registered trademarks.
• Recording changes of assignment or ownership.