Corporate Group

Company incorporation in UAE

Legal & Compliance

Legal & Compliance

corporate tax service dubai

The areas we address at Corporate Group under legal & compliance are as follows:

  • Liquidation Services
  • Economic Substance Regulations (ESR)
  • Ultimate Beneficial Ownership (UBO)
  • goAML

Liquidation Services

Company Liquidation or winding up a company is a complex task in the UAE which requires a lot of the ticks in the checklist, clearance statements from the relevant authorities, and closure of business as per compliance to get a clean exit.

We’ll cover each step & procedure for company liquidation starting from the authority’s clearance, and documentation gathering till the final step of getting the liquidation report.

Corporate Group liquidation services include;

  • Liquidation of mainland companies
  • Liquidation of Free Zones companies
  • Liquidation of offshore companies

Economic Substance Regulations (ESR)

The UAE applies Economic Substance Regulations (ESR) to local companies located in the country from 30th April 2019 through a Cabinet of Ministers resolution No. 31 of 2019 along with the Ministerial Decision No. 215 of 2019.

These regulations have now been repealed and replaced by the new Cabinet resolution No. 57 dated 10th August 2020 and Ministerial Decision No. 100 of 20th August 2020 require UAE onshore and free zone companies and certain other business forms that carry out any of the defined “Relevant Activities” listed below to keep and exhibit a sufficient “economic presence” in the UAE relative to the activities they undertake (“Economic Substance Test”).

  1. Banking Business
  2. Insurance Business
  3. Investment Fund Management Business
  4. Lease-Finance Business
  5. Shipping Business
  6. Holding Company Business
  7. Intellectual Property Business
  8. Headquarter Business
  9. Distribution and Service Centre Business

These companies must provide the regulatory authorities with economic substance notifications, including preliminary information about the activities. This notification is a prerequisite for submitting an economic substance report by the company.

The Economic Substance Test requires a Licensee to demonstrate that:

  • the Licensee and Relevant Activity are being directed and managed in the UAE;
  • the relevant Core Income Generating Activities (“CIGAs”) are being conducted in the UAE; and
  • the Licensee has adequate employees, premises and expenditure in the UAE.

Submission Deadlines:

  • Notifications- Conducting Relevant Activities
  • Submit within Six months from the Entity Financial year End.
  • Economic Substance Reports- Earning Relevant Income
  • Submit ESR report within 12 months from the end of its financial Year.

Why require ESR Compliance:

The Economic Substance Regulations bring the specific requirements for businesses to demonstrate that their actual economic activity is in UAE and it is not driven solely to benefit from a low or non-tax jurisdiction. Thus, preventing the harmful tax practice of profit shifting from high-tax jurisdictions to low tax regimes.

Penalties for non-compliance are as follows:

If failure continues in the second consecutive year, the amount of penalty is increased to an amount of AED 400,000 in the subsequent year.

How Corporate Group Experts can help?

  1. Determine in-depth the appropriate Relevant Activity
  2. Conduct and assist in ESR Test
  3. Review past fillings (Analyze/ Re-analyze the applicability of ESR)
  4. Assist in submitting the Notification and ES Report 
  5. Assist in responding to queries from relevant UAE authorities
  6. Assist with the appeal procedure, if applicable.

Ultimate Beneficial Ownership (UBO)

Cabinet Decision No. (58) of 2020 Regulating the Beneficial Owner Procedures.

The entities in UAE are required to disclose their Real beneficiaries or Ultimate Beneficial Owner’s details, enhance global confidence and improve compliance, which intends to enhance the transparency of the UAE-registered entities.

All entities must require disclosing their UBO details to the relevant authorities in the UAE as per their licensing authority’s deadlines.

How Corporate Group can help you?

  • Prepare the UBO’s partners and shareholders’, director/manager nominees’ registers (if applicable).
  • UBO declaration
  • Inform the relevant authorities and update registers about changes and amendments to the information provided.


Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT).

Federal Decree No. 20 of 2018 on Anti-Money Laundering and Countering the Financing of Terrorism was issued to establish a legal framework for complying with international standards on anti-money laundering and countering the financing of terrorism.

Anti-money laundering (AML) refers to the web of laws, regulations, and procedures aimed at uncovering efforts to disguise illicit funds as legitimate income.

  • AML regulations require financial institutions to develop sophisticated customer due diligence plans to assess money laundering risks and detect suspicious transactions.

Annual AML/CTF Risk Assessment Report

It is an obligation to file an annual AML/CTF risk assessment report to the Ministry of Economy (MoE) for all Designated non-financial businesses and Professionals.

Providing wrong information or lack of compliance is taken seriously and will likely be penalized by the authorities. Anti-Money Laundering (AML) violators may face administrative fines ranging from AED 50,000 to 1,000,000.

How Corporate Group can help you?

  • Corporate Group helps you in Registration in the goAML system
  • Risk Assessment
  • Develop AML/CFT Policies and Procedures
  • Assign Compliance Officer
  • Perform Know Your Customer (KYC) checks
  • Training and Awareness
  • AML/CFT Corporate Advisory

We also offer

In today’s fast-changing corporate reporting complex environment, an audit is vital to the credibility of your company and to the financial system as a whole. We not only provide independent and transparent audits but also our expert assurance team offers the highest level of confidence and risk management best practices system help management to make quick and well-informed decisions. (read more)

We’re a team of FTA-approved tax agents, chartered certified accountants, and Public accountants having years of local and international tax, tax accounting, and tax audit exposure, working with SMEs, large and multinational organizations as well as family offices, and entrepreneurs. We ensure more assurance and empower change by delivering the modern and most needed tax services in the evolving business landscape. (Read More)

Accounting is the language of business once said by warren buffet and it’s absolutely right. Every business requires accurate and complete accounting records for all expenses, purchases, sales, and other relevant activities to understand its financial performance and position in a better way. Our accounting experts not only give assurance on your financials but also suggest to you the best way to do business, compliance, and future growth. (Read More)

Corporate Group international tax service teams help you fully comply with these requirements and analyze and remediate the impact that these reporting obligations have on our global tax footprint. Our global treasury group consists of a network of tax professionals in key markets globally who focus on treasury and investment issues from financing and capital restructuring to risk management, whether that be with respect to interest rates, commodities or foreign currency. (Read More)

Offering Zakat is an important component of Islamic culture; therefore, we help businesses calculate and organize their Zakat dues as part of their annual financial duties. Given the various scenarios in Zakat calculation and our expertise in end-to-end financial auditing and accounting services. (Read More)

Establishing Business or Company Formation in UAE is an excellent way to legitimately book international profits with less Tax, besides there are no capital gains or personal income tax in UAE. Corporate Group is in liaison with clients to setup up their business in UAE both in mainland as well as in Free Zones We handle the complete company formation process – strategic recommendations, negotiations with local stake holders, documentation formalities the entire assistance towards business flotation. (Read More)

If you want to increase the success of your business – whether it be in Dubai or around UAE – you need professional management consulting from a reputable company. Corporate Tax Consultants can help you do just this. Get in touch with our team today to see how we can help you. We are committed to delivering the value we promise and that you expect – through faster time to market, lower costs, improved cash flow or higher revenues. (Read More)