Compliance Advisory
The AML Law introduced in 2021 in UAE requires the FIs and DNFBPs to establish a comprehensive AML/CFT Program including AML Policy for KYC, Screening, Risk Profiling, Governance, STR Filing, and more. The AML Law in UAE requires that the Anti-Money Laundering Policy and AML procedures and guidelines have to be commensurate with the nature and size of the business. The AML Compliance Officer has to ensure that the provisions of the UAE AML Law are complied with.
Calculus’ expert team provides the full scope of services related to AML compliance:
- AML Independent Compliance Review – Conducting thorough reviews to ensure businesses comply with anti-money laundering regulations independently.
- MLRO Services (Money Laundering Reporting Officer) – Offering services related to the deputy designated officer.
- AML litigation related matters – Providing support in legal matters related to anti-money laundering, ensuring legal compliance.
ESR effectively imposes a requirement for UAE entities (including offshore companies, and branches of local and foreign companies) that carry out and earn income from any of the Relevant Activities to maintain economic substance in the UAE, specific to each Relevant Activity. Annual filing requirements must be met or organizations risk penalties for non-compliance.
Our compliance practice supports clients with ESR filing and legal advisory:
- Filing of ESR Notification – Assisting in the submission of notifications required under Economic Substance Regulations.
- Filing of ESR Report – Supporting businesses in the preparation and submission of Economic Substance Reports.
- ESR Litigation related matters – Offering expertise and assistance in legal issues related to Economic Substance Regulations.