CORPORATE COMPLIANCE SERVICES

MEYDAN REGULATORY

Introduction

Our Support Services & Drafting for the Meydan Regulatory Virtual Inspection is meticulously designed to guide businesses within the Meydan Free Zone through the preparation and execution of the upcoming virtual inspection mandated by the Meydan AML Supervision team.

This vital regulatory scrutiny is anchored in ensuring compliance with the UAE’s Anti-Money Laundering (AML), Combating the Financing of Terrorism (CFT), and Beneficial Owner procedures, as stipulated by UAE Cabinet Decision No. 10 of 2019 and Cabinet Resolution 109 of 2023.

Importance of Compliance

Adhering to these regulations is crucial for safeguarding the UAE’s financial system’s integrity, with potential penalties for non-compliance reaching up to 500,000 AED, as per Cabinet Resolution No. (132) of 2023.

Service Offerings

Detailed Documentation Preparation: We assist in compiling and meticulously preparing all necessary documentation for the inspection, ensuring each document complies with the current regulatory requirements.
Customized Compliance Strategy: Tailoring a compliance strategy to meet the Meydan Free Zone’s specific regulatory demands, our experts address potential compliance gaps, reinforcing adherence to AML, CFT, and Beneficial Owner regulations.
Virtual Inspection Guidance: Given the unique challenges of virtual inspections, our service encompasses thorough support for presenting your compliance efforts effectively in a virtual setting.
Direct Liaison and Ongoing Advisory: Serving as your direct contact with the Meydan AML Supervision team, we ensure clear communication and address any concerns promptly. Post-inspection, our advisory services continue to help navigate regulatory changes or updates.

Important Service Note

During the execution of submission preparations, it may be discovered that additional services or documents, not initially identified, are required to achieve full compliance. These additional requirements might uncover gaps in compliance efforts that necessitate further services or documentation not included in this initial service offering. It is important for clients to understand that these additional services or documents, essential for ensuring compliance, will need to be contracted independently. Our team will identify these needs during our thorough review process and advise on the best course of action to attain and maintain compliance.

Benefits of Specialized Service

By opting for our specialized service, businesses can confidently navigate the complexities of the Meydan Regulatory Virtual Inspection, ensuring that their operations not only meet but exceed the stringent compliance standards. Our dedicated support mitigates the risk of penalties and enhances your business’s standing within the Meydan Free Zone and the broader UAE financial ecosystem, securing your operational integrity and compliance posture.

The information provided does not constitute a direct or implied recommendation or endorsement of any strategy, decision, or action. Clients are encouraged to consult with the tax, legal, or professional advisors to determine the applicability of the information to their specific circumstances. Europe Emirates Group expressly disclaims any liability for errors or omissions in this information or for any loss or damage suffered by any person as a result of reliance on the information provided. Use of and reliance on the information is at the user’s own risk.