Growth Partners

Corporate Compliance Services

DIEZ Regulatory

Growth Partners is pleased to offer a specialized service aimed at helping businesses navigate the DIEZ Regulatory Offsite Assessment Requirements with ease and compliance. In light of the recent announcement by the DIEZ Supervision team regarding the forthcoming offsite assessment, it is crucial for businesses to ensure full compliance with UAE Cabinet Decision No. 10 of 2019, Cabinet Resolution 109 of 2023, and subsequent regulations related to Anti-Money Laundering (AML), Combating the Financing of Terrorism (CFT), and Beneficial Owner procedures.

Given the critical importance of these regulations in protecting the integrity of the UAE’s financial system, failure to comply could result in substantial penalties, including fines of up to 500,000 AED, as stipulated in Cabinet Resolution No. (132) of 2023.

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Service Overview

Our service is expertly designed to guide your business through the DIEZ Regulatory Offsite Assessment with precision and strategic insight. We are dedicated to ensuring that your documentation and compliance efforts not only meet the required regulatory standards but also set a high benchmark for excellence in regulatory compliance.

Comprehensive Service Offerings

  • Documentation Preparation and Review: Our team will assist you in compiling and thoroughly reviewing all necessary documents to ensure they are complete and in full alignment with regulatory expectations.
  • Customized Compliance Strategy Development: We develop a tailored compliance strategy that aligns with your business operations, ensuring adherence to the stringent requirements set by the DIEZ Supervision team, while minimizing potential risks of non-compliance.
  • Submission and Liaison Support: We manage the submission process on your behalf, acting as a direct liaison with the DIEZ Supervision team, addressing any inquiries or clarifications to streamline communication and ensure efficient compliance.

 

Expert Guidance and Compliance Process

Navigating the complexities of regulatory compliance can be challenging, but our team, with deep expertise in regulatory inspections and documentation, is committed to guiding your business through a smooth and efficient compliance process. We stress the importance of prompt and proactive collaboration with our team to address any information requests swiftly. Timely action is critical to meet the specified deadlines, helping you avoid the risk of penalties, including official warnings and significant fines, as detailed in the Cabinet Resolutions.

Additional Service Note

Please note that during the submission preparation process, we may identify additional services or documents that were not initially anticipated but are necessary to achieve full compliance. These additional requirements could reveal gaps in the initial compliance efforts, necessitating further documentation or services not covered in the original scope. Clients should be aware that these additional services or documents, essential for ensuring complete compliance, will need to be contracted separately. Our team will identify these needs during the review process and provide guidance on the best course of action to achieve and maintain compliance.

Benefits of Specialized Service

By choosing our specialized service, businesses can effectively navigate the complexities of the Regulatory Virtual Inspection, ensuring that their operations not only meet but surpass the strict compliance standards. Our dedicated support minimizes the risk of penalties while enhancing your business’s reputation and strengthening the overall integrity of the UAE’s financial ecosystem, safeguarding your operational compliance and long-term success.

The information provided is for informational purposes only and should not be construed as a recommendation or endorsement of any particular strategy, decision, or action. Clients are advised to consult with their tax, legal, or professional advisors to assess the relevance and applicability of the information to their specific circumstances. Growth Partners disclaims any responsibility for errors or omissions in the information or for any loss or damage incurred by any individual or entity relying on this information. Use of and reliance on the information is at the user’s own risk.

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Frequently Asked Questions

Learn more about company formation in the United Arab Emirates

In the United Arab Emirates, you can establish entities like Limited Liability Companies (LLC), Free Zone Entities, Sole Proprietorships, and Branches of Foreign Companies.

The company formation process in the UAE can take anywhere from a few days to several weeks, depending on the type of company and the specific requirements involved.

The United Arab Emirates offers a tax-free environment for most businesses, with no personal or corporate income tax, provided the company qualifies for Free Zone status.

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