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Compliance

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FAME Advisory is a leading firm providing international tax consultation services.

With great knowledge and objectivity, we provide excellent tax management and tax consultation services. We are updated with the latest UAE and international tax laws and understand about the frequent variations in tax implementations in other countries. Our Tax and Compliance Experts provide and coordinate cross border tax advice to leading multinational corporations and local businesses, family offices, joint ventures and other local, regional organizations.

Value Added Tax (VAT)

FTA Registered, VAT Consulting in UAE and Other GCC Countries

The UAE is a progressive country with plenty of attractions and perks for existing businesses and emerging entrepreneurs

Dealing with tax and related services is a complex process. We have a full-service international tax practice and advise on all areas of tax including M&A (tax structuring, due diligence), corporate tax and VAT along with assistance in litigations.

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What We Do?

Initial Review and VAT Implementation

GCC VAT Compliance Support

We ensure continuous support to companies in preparation, review and filing of VAT returns across the GCC countries which involves the following key steps:

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Vat Audit Support

Filing Clarification / Ruling Application

Due to the evolving nature of the VAT legislation, we advise companies on matters which are complex and do not have specific guidance from the Federal tax authorities. This involves:

Refund Assistance

We assist in undertaking the following:

Vat Review

We undertake the following key steps:

Outsourcing of VAT Function

We at FAME Advisory support companies by providing tax specialists (i.e., outsourcing, co-sourcing, deputation, etc.) so that the company has to only focus on its core operations while tax compliances are handled by our professionals.

Stay compliant with VAT regulations with our expert guidance while availing right exemptions and credits.

Contact us today to schedule a consultation and manage your VAT obligations effectively.

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Compliance with Economic Substance Regulations in UAE & Other Countries

We assist companies with Economic Substance Regulations (ESR) that highlight the reporting of all the economic activities carried out by legal entities in the UAE, Bahrain, British Virgin Islands and Cayman Islands.

How can FAME Advisory help company with ESR regulations?

We have a dedicated team of experts who can assist clients with ESR. Following is the scope of activities:

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Gap and remediation investigation

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Impact Assessment

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Compliance / Reporting

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Impact Assessment

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Gap and remediation investigation

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Compliance / Reporting

Anti Money Laundering Laws

FAME Advisory with its rich experience in the relevant sectors has been consulting clients across the UAE, especially whose operations are subject to the implementation of Anti Money Laundering programs.

With all-encompassing understanding and diversified involvement, our Chartered Accountants, business consultants and industry specialists are proficient in understanding the risk and provide remedial actions and policies to companies that are struggling to comply with AML and CFT law in different countries.

Complying with local and international AML regulation is mandatory for organizations that fall under its preview. Following are the services that we offer related to Anti-Money Laundering (AML):

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Assisting in preparation of AML Manual

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Assistance in the GoAML Reporting for the Designated Sectors

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Suggesting the AML Compliance Policy and procedures

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Timely due diligence frameworks and process implementations

Anti Money Laundering Laws img

Complying with local and international AML regulation is mandatory for organizations that fall under its preview. Following are the services that we offer related to Anti-Money Laundering (AML):

preparation of AML Manual icon

Assisting in preparation of AML Manual

Designated Sectors icon

Assistance in the GoAML Reporting for the Designated Sectors

AML Compliance Policy icon

Suggesting the AML Compliance Policy and procedures

frameworks and process implementations icon

Timely due diligence frameworks and process implementations

Protect your business from financial and reputational risks with our guidance on economic substance regulations.

Let’s connect and discuss ESR regulatory requirements.

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Ultimate Beneficial Owners (UBO) Regulations

The Cabinet Resolution No. 58/2020 on the Regulations of Procedures Related to Real Beneficiaries (the UBO Regulations) Resolution introduces new requirements for entities to disclose their beneficial owners. The main purpose is to augment the transparency of entities registered in the UAE, as well as to develop effective and sustainable executive and regulatory mechanisms and procedures in respect of beneficial owner data.

The UBO Resolution requires entities licensed in the UAE to prepare and file an Ultimate Beneficial Owner (“UBO”) register with the relevant authority and update the same in case of any changes within prescribed time.

The UBO Resolution requires entities licensed in the UAE to prepare and file an Ultimate Beneficial Owner (“UBO”) register with the relevant authority and update the same in case of any changes within prescribed time.

We at FAME Advisory can assist in the following to facilitate proper compliance for your entity:

01

Review of the shareholding structure as well as parent company documentation.

02

Assist with preparation and review of the UBO form to be filed with licensing authority and filing them.

03

Any other correspondence with licensing authority in this regard.

Develop and implement robust procedures and mechanisms for your UBO compliance.

Reach us out

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