Compliances & Regulations

Crystal Accounts & Advisory

With us, Compliances & Simplicity go hand in hand


V.A.T. (Value Added Tax)

Crystal Accounts and Advisory help businesses with all aspects of VAT compliances including registration, de-registration, and legal issues related to VAT.

Business must register for VAT if taxable supplies and imports exceed AED 375,000. You can also register to pay VAT voluntarily if your taxable supplies and imports exceed AED 187,500. If your business is required to register for VAT, we guide you through the process and ensure that you are fully compliant with all relevant regulations.

If your business is no longer required to be registered for VAT, we can assist with the de- registration process and ensure that all relevant authorities are notified in a timely and accurate manner.

In addition, we also provide legal support for businesses facing VAT-related issues. Our team of experts have extensive experience dealing with VAT disputes, assessments, and other legal issues related to VAT. We can represent your business in discussions with tax authorities and help resolve any issues in a timely and efficient manner.

At Crystal Accounts and Advisory, we understand the importance of compliance with VAT regulations in the UAE and are committed to providing our clients with the guidance and support they need to navigate the complexities of VAT compliance.


E.S.R. (Economic Substance Regulations)

ESR is a set of regulations aimed at ensuring that businesses operating in the UAE have sufficient economic substance to justify their presence in the country.

Under the ESR, businesses that fail to submit the required notifications or reports or submit them after the deadline may be subject to fines ranging from AED 10,000 to AED 50,000. Repeated violations may result in higher fines, and in some cases, the regulatory authorities may take additional measures, such as revoking the business license or suspending the company's activities.

Our ESR services include ESR assessment, which involves evaluating a business's activities to determine if they meet the substance requirements set out in the regulations.

The following activities are considered relevant under ESR:
  • Banking
  • Insurance
  • Investment Fund Management
  • Leasing
  • Headquarters Business
  • Shipping
  • Holding Company Business
  • Intellectual property (“IP”)
  • Distribution & Service Centre Business

Our ESR assessment service also includes reviewing the business's operations, assets, employees, and other relevant factors to determine if they have sufficient economic substance in the UAE. If a business is found to be non-compliant, we can help them develop and implement a plan to address any issues and ensure that they meet the requirements of the ESR.


A.M.L. (Anti Money Laundering)

Money laundering is a serious crime that involves the concealment of the true origin of illegally obtained funds. The UAE has implemented strict AML laws and regulations to combat money laundering and other financial crimes. As a result, it is critical for businesses operating in the UAE to have effective AML programs in place to prevent money laundering and ensure compliance with AML laws and regulations.

Who needs to register for AML?

Businesses in financial services and related industries must adhere to AML regulation. This includes banks, insurers, real estate agents, accountants and more.

AML penalties in the UAE

Offences under the AML law include opening or maintaining accounts with fake names, failure to carry out due diligence, and failure to take necessary measures to determine risk of crime. Fines for such offences range from AED 50,000 to AED 1m. Offenders may also face imprisonment.

Crystal Accounts and Advisory offers a wide range of services including AML training, risk assessments, compliance audits, and program development.


U.B.O. (Ultimate Beneficiary Ownership)

We understand that identifying and verifying the UBO of a company can be a challenging and time-consuming process, especially for businesses that are not familiar with the local laws and regulations. Our team has extensive knowledge and experience in this area and can help businesses ensure compliance with the relevant laws and regulations.
What constitutes a UBO?

UBOs are individuals who own, have control, or have voting rights with at least a 25% shareholding in the company. It also includes anyone with the right to dismiss the majority of directors and managers. If such a person does not exist, the UBO is any person who exercises significant control over the company.

Crystal Accounts and Advisory helps in UBO identification, verification, and reporting, as well as ongoing support to help businesses maintain compliance. We can assist businesses in conducting due diligence on their partners and clients, and provide advisory services to help them understand the legal and regulatory requirements related to UBO reporting.

We take a proactive approach to UBO and related services and work closely with businesses to provide customised solutions that meet their specific needs. We understand that every business is unique, and we tailor our services to ensure that our clients receive the support they need to achieve their goals.

Whether you're a local business in the UAE or an international company looking to establish a presence in the region, we can provide the expertise and support you need to ensure compliance with UBO and related regulations.

How can we help you?

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