Introduction In a recent development, the UAE has announced the cancellation of its Economic Substance Regulations (ESR). This decision is part of a broader effort to align the nation’s regulatory environment with global standards and enhance business operations in the region. This article provides an overview of the cancellation, its implications, and what businesses in...
When it comes to maintaining compliance within the regulated sectors, staying updated with the inspection requirements is crucial. For Designated Non-Financial Businesses and Professions (DNFBPs), these requirements are particularly rigorous, as they are mandated by the Ministry of Economy (MOE). Inspections can be carried out by the license issuing authority, such as the Dubai Economic...
In the dynamic regulatory landscape of the UAE, Designated Non-Financial Businesses and Professions (DNFPBs) often find themselves navigating a complex maze of compliance requirements. Unfortunately, this journey is frequently marred by confusion and unawareness, particularly among small businesses. Let’s delve into some of the critical issues DNFPBs face and how Integrity Corporate Services (ICS) offers...
As a Designated Non-Financial Business and Profession (DNFBP) in the UAE, adhering to Anti-Money Laundering (AML) regulations is crucial. One key aspect of compliance is the use of AML screening tools. However, there is often confusion and misinformation about the necessity and functionality of these tools. This article aims to demystify AML screening tools, providing...
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