Economic substance regulations are the new cabinet decision endorsed by the United Arab Emirates (UAE) ministry through the Cabinet Decision No.31 on 30th April 2019. As per the ESR, companies in the UAE are required to demonstrate the economic substance in the relevant activities they carry out within the UAE.
ANTI-MONEY LAUNDERING & COMBATING THE FINANCING OF TERRORISM (AML/CFT)
Are you aware of the new anti money laundering compliance and if it is applicable to your organisation?
All financial and designated non-financial businesses & professions (DNFBP) need to adhere to the AML compliance.