AML and CFT Registration deadline in UAE Extended till April 30

Raghunath. T, Director

image

    Get Free Consultation




    The Ministry of Economy has extended the deadline for registration of AML and CFT till the end of April for “Designated Non-Financial Businesses and Professions” (DNFBP`s). The decision for extension was made due to the large number of companies seeking registration and also considering the COVID-19 situation.

    Sectors that come under “Designated Non-Financial Businesses and Professions” category are Real Estate Sector, Auditors, Dealers of precious metals and gemstones, and Corporate Service Providers. The registration has been made mandatory for all the companies on the goAML system and automatic reporting system for sanctions lists. All the necessary requirements for complying with Federal Law No. 20 of 2018 should be taken post registration.

    All companies are requested to make use of the extension to avoid heavy fines that shall be imposed on those who register after the deadline; starting from AED 50000, it can go up to AED 5 million. For those that fail to register could have their license suspended or can even result in closure of the company.

    Assistant Under-secretary for the supervision and follow-up sector at the Ministry of Economy, Abdullah Sultan Al Fan Al Shamsi, said, “Due to the increased level of response in the business sector and non-financial professions identified for mandatory registration, the Ministry of Economy decided, in coordination with its partners from the relevant government agencies, to extend the grace period granted to the target companies and give them more time until the end of the current month to complete the registration process and begin taking the necessary legal measures to comply with the requirements of the law and its implementing regulations.”

    “The goal is to ensure compliance and not impose violations, and the decision was made taking into consideration of the state of several business sectors and companies that are facing trouble due to the pandemic and its repercussions on a global scale. The Ministry of Economy is keen on building a solid and positive relationship with the private sector based on the principle of partnership”, he added.

    He also emphasized the role of non-financial business and private sector as a partner in supporting the government to deal with combat money laundering and in building a safe and stable economic environment.

    Al Shamsi pointed out that majority of the companies in the sector have registered and complied to the AML and CFT regulations but still a percentage of companies have not yet registered. The extension of deadline will give them the opportunity to hurry up their registration, avoid violations and to protect their business and investments from money laundering risks through their compliance with the government regulations.

    “Extending the grace period without applying any violations before April 30 allows companies fulfill their obligations and initiate registration”, said Safia Al Safi, Director of the Anti-Money Laundering Department at the Ministry of Economy.

    The ministry had received numerous phone calls and enquiries too during the month of March which enabled them to come up with the decision of extension of deadline. The country is trying to manage and control money laundering and terrorism financing crimes that are on the rise. With the support and cooperation of the people it can be done smoothly and in a jiffy. Through strict compliance of the government regulations, the country will soon be able to attain their goal offering maximum support and security to the companies as well.

     

    Would you like to rate us on Google?         

     

    Varun R Chandra
    Varun R Chandra
    07:38 25 Apr 21
    HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
    Giuseppe Assi
    Giuseppe Assi
    06:20 31 Jan 21
    I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
    Mohamed Sheriff
    Mohamed Sheriff
    16:16 28 Jun 20
    Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
    218141 JOSEPH THOMAS
    218141 JOSEPH THOMAS
    16:20 23 Jun 20
    Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
    PMI
    PMI
    07:14 23 Jun 20
    In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
    RAVI CHOKSI
    RAVI CHOKSI
    08:28 21 Jun 20
    Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
    Maharajan Subramaniam
    Maharajan Subramaniam
    18:17 06 Jun 20
    High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
    Mohammed L
    Mohammed L
    08:07 05 Jun 20
    We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
    ROY ROSHAN VIVIAN
    ROY ROSHAN VIVIAN
    06:32 04 Jun 20
    Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
    Basil Daniells
    Basil Daniells
    05:55 03 Jun 20
    I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
    Amar Kashyap
    Amar Kashyap
    19:28 02 Jun 20
    Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
    Radz de Jesus
    Radz de Jesus
    16:03 02 Jun 20
    We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
    More reviews
    js_loader

    Get in touch

    Whatever your question our team will point you in the right direction

    Start the conversation

    VAT Applicable for Services Provided by Artists and Influencers in UAE

    Jay Krishnan, Partner

    image

      Get Free Consultation




      Artists and influencers in UAE will not be exempted from VAT anymore. The FTA has come up with a bulletin that discusses about the applicability of VAT on artists and influencers.

      Artists and SMIs who are engaged in any sort of promotional or marketing activities in return for a remuneration, be it a mention in their posts, videos or blogs, or promoting a business in their social media, any sort of physical appearance or even providing access to the SMIs social media network are applicable for VAT.

      The bulletin has clearly stated that any reimbursement of cost incurred by the artist or SMI for providing the service, will also fall under the scope of VAT.

      The statement in the bulletin also read, “UAE-based artists and SMIs who make taxable supplies (which include zero-rated supplies) in the UAE are required to register for VAT provided the value of their taxable supplies and imports in the last 12 months exceeded, or is expected to exceed in the next 30 days, the mandatory registration threshold of Dhs375,000”.

      Artists of any kind who offer promotional services in their personal capacity are included in the list.

      The decision of imposing VAT on artists and SMIs will be beneficial to the country as it will bring in added income. The promotional activities for businesses by the artists and SMIs have become a trend, as it has a wider audience and reach. The economic state of the country will improve even more with the recent addition to VAT.

       

      Would you like to rate us on Google?         

       

      Varun R Chandra
      Varun R Chandra
      07:38 25 Apr 21
      HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
      Giuseppe Assi
      Giuseppe Assi
      06:20 31 Jan 21
      I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
      Mohamed Sheriff
      Mohamed Sheriff
      16:16 28 Jun 20
      Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
      218141 JOSEPH THOMAS
      218141 JOSEPH THOMAS
      16:20 23 Jun 20
      Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
      PMI
      PMI
      07:14 23 Jun 20
      In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
      RAVI CHOKSI
      RAVI CHOKSI
      08:28 21 Jun 20
      Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
      Maharajan Subramaniam
      Maharajan Subramaniam
      18:17 06 Jun 20
      High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
      Mohammed L
      Mohammed L
      08:07 05 Jun 20
      We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
      ROY ROSHAN VIVIAN
      ROY ROSHAN VIVIAN
      06:32 04 Jun 20
      Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
      Basil Daniells
      Basil Daniells
      05:55 03 Jun 20
      I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
      Amar Kashyap
      Amar Kashyap
      19:28 02 Jun 20
      Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
      Radz de Jesus
      Radz de Jesus
      16:03 02 Jun 20
      We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
      More reviews
      js_loader

      Get in touch

      Whatever your question our team will point you in the right direction

      Start the conversation

      UAE Extends Anti-Money Laundering (AML) Compliance date for selected Businesses

      Raghunath. T, Director

      image

        Get Free Consultation




        As an attempt to control the financial crimes that are on the rise, the UAE Ministry of Economy has extended the period for the businesses to be in compliance with the Anti-Money Laundering (AML) and Combating Financing of Terrorism (CFT) guidelines till March 31st for four selected categories of business.

        To stress upon the intent and seriousness that is expected from these Designated Non-Financial Businesses & Professions (DNFBPs), the Ministry of Economy has stipulated heavy penalties for businesses that fail to comply with the AML and CFT requirements by the due date.

        The fines will range from AED 50,000 to AED 1 million and can go up to AED 5 million as per the assessment of the Supreme Committee if engaged in money laundering, financing terrorism or any illegal organizations. A penalty of AED 1 million each will be charged on cases of fake bank accounts, failure to take action against clients listed on international or domestic sanctions list before establishing or continuing with the business.

        The business categories included are:

        • Brokers and Real Estate Agents
        • Dealers of precious metals and gemstones
        • Auditors
        • Corporate service providers

        The businesses must register with the Financial Intelligence Unit (go AML) and also enroll themselves on the Committee for Commodities Subject to Import and Export Control system (Automatic Reporting System for Sanctions List).

        Once the registration is complete, the businesses must adopt other measures related to AML and CFT in accordance with the provisions stated by the Decree-Law.

        Safiya Al Safi, Director of the Anti-Money Laundering Department, Ministry of Economy said, “All companies must establish internal policies, controls and procedures to avoid the risk of money laundering as per the regulations stated, which is made available on the official website of the Ministry of Economy.”

        AML and CFT measures are a necessity for an organization to ensure the smooth flow of businesses. A reputed consulting firm can assist you in complying and implementing AML and CFT guidelines and procedures. HLB HAMT is an auditor approved by the UAE Central Bank and the Insurance Authority. Our team of experts and ACAMS certified professionals offer these audit services which will ensure that you meet the required compliances and assure the safety of your organization on the long run.

        HLB HAMT offers audit services and work as per the regulations laid by the UAE Central Bank and the Insurance Authority. We have been approved to act as a consultant to conduct independent assessments of the Anti-Money Laundering, Combating the Financing of Terrorism & Sanctions Compliance Frameworks. With more than 20 years of experience in the field of audit and assurance services, and with the international expertise from HLB Global who have over 50 years of audit and assurance expertise, our team of experienced professionals can aid you in complying with the new AML and CFT regulations.

         

        Would you like to rate us on Google?         

         

        Varun R Chandra
        Varun R Chandra
        07:38 25 Apr 21
        HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
        Giuseppe Assi
        Giuseppe Assi
        06:20 31 Jan 21
        I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
        Mohamed Sheriff
        Mohamed Sheriff
        16:16 28 Jun 20
        Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
        218141 JOSEPH THOMAS
        218141 JOSEPH THOMAS
        16:20 23 Jun 20
        Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
        PMI
        PMI
        07:14 23 Jun 20
        In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
        RAVI CHOKSI
        RAVI CHOKSI
        08:28 21 Jun 20
        Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
        Maharajan Subramaniam
        Maharajan Subramaniam
        18:17 06 Jun 20
        High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
        Mohammed L
        Mohammed L
        08:07 05 Jun 20
        We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
        ROY ROSHAN VIVIAN
        ROY ROSHAN VIVIAN
        06:32 04 Jun 20
        Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
        Basil Daniells
        Basil Daniells
        05:55 03 Jun 20
        I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
        Amar Kashyap
        Amar Kashyap
        19:28 02 Jun 20
        Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
        Radz de Jesus
        Radz de Jesus
        16:03 02 Jun 20
        We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
        More reviews
        js_loader

        Get in touch

        Whatever your question our team will point you in the right direction

        Start the conversation

        ESR Compliance Deadline Extended till January 31st

        Jay Krishnan, Partner

        image

          Get Free Consultation




          The ESR compliance deadline in UAE has been extended for a month to January 31st 2021. The extension is a great relief to businesses as they had a rough time preparing the documents to be submitted in a short period of time.

          The amended ESR was released in September and those who submitted the notifications in June were caught up in a year-end rush in December, thus the extension has been a great relief for them. This extension should be considered a golden opportunity and the organizations must act smart to get things done during this period.

          This extension period also provides a chance for businesses that has already submitted the ESR notification to make amendments if any. The corrections made during this period will free them from the financial penalties.

          The ESR compliance requires the board meeting reports of every organization and as the situation is not suitable for in-person meetings, the businesses demand the clarity of such requirements. The board meetings may not be even conducted in the UAE or may not take place at all. The ‘strategic decisions’ may not involve all the board member’s approval, a clarification of all these is necessary for businesses to move forward.

          The one-month extension is not something that you get often so it is important to make the most out of it and could even be a fresh start for the businesses to ensure accurate compliance of the ESR.
           


           
          Would you like to rate us on Google?         

           

          Varun R Chandra
          Varun R Chandra
          07:38 25 Apr 21
          HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
          Giuseppe Assi
          Giuseppe Assi
          06:20 31 Jan 21
          I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
          Mohamed Sheriff
          Mohamed Sheriff
          16:16 28 Jun 20
          Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
          218141 JOSEPH THOMAS
          218141 JOSEPH THOMAS
          16:20 23 Jun 20
          Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
          PMI
          PMI
          07:14 23 Jun 20
          In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
          RAVI CHOKSI
          RAVI CHOKSI
          08:28 21 Jun 20
          Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
          Maharajan Subramaniam
          Maharajan Subramaniam
          18:17 06 Jun 20
          High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
          Mohammed L
          Mohammed L
          08:07 05 Jun 20
          We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
          ROY ROSHAN VIVIAN
          ROY ROSHAN VIVIAN
          06:32 04 Jun 20
          Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
          Basil Daniells
          Basil Daniells
          05:55 03 Jun 20
          I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
          Amar Kashyap
          Amar Kashyap
          19:28 02 Jun 20
          Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
          Radz de Jesus
          Radz de Jesus
          16:03 02 Jun 20
          We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
          More reviews
          js_loader

          Get in touch

          Whatever your question our team will point you in the right direction

          Start the conversation

          Saudi Arabia increases their minimum wage for National Staff

          Muhammed Naseer

          image

            Get Free Consultation




            Saudi Arabia has decided to increase the minimum wage of employees from 3000 riyals to 4000 riyals. The announcement was made by the Ministry of Human Resources and Social Development of Saudi Arabia and it will benefit 33 percent of employees working in the private sector.

            The decision was made as part of the Nitaqat Programme which aims to reduce the unemployment rate and to provide more employment opportunities for its citizens.

            The minister of Human Resources and Social Development, Ahmed Suleiman Al Rajhi said that the amendment of wage will also be applicable to the students of Saudi who work part-time. He also stated that the rule will come into action five months from the date of the announcement.

            The new rule specifies that an employee who receives a monthly salary that is below the minimum wage won’t be considered part of the company’s designated quota of national employees. Also, the ones who receive a salary between 3,000 riyals and 4,000 riyals will be considered as half of a ‘citizen worker’ in the quota count.

            Saudi Arabia has brought in many incentives to its people in order to support them during such a crisis. The government’s recent initiative aims at attracting more Saudi Arabian citizens to the private sector along with ensuring their rights are met.

             

             
            Did you find the blog informative?         

             

            Varun R Chandra
            Varun R Chandra
            07:38 25 Apr 21
            HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
            Giuseppe Assi
            Giuseppe Assi
            06:20 31 Jan 21
            I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
            Mohamed Sheriff
            Mohamed Sheriff
            16:16 28 Jun 20
            Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
            218141 JOSEPH THOMAS
            218141 JOSEPH THOMAS
            16:20 23 Jun 20
            Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
            PMI
            PMI
            07:14 23 Jun 20
            In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
            RAVI CHOKSI
            RAVI CHOKSI
            08:28 21 Jun 20
            Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
            Maharajan Subramaniam
            Maharajan Subramaniam
            18:17 06 Jun 20
            High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
            Mohammed L
            Mohammed L
            08:07 05 Jun 20
            We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
            ROY ROSHAN VIVIAN
            ROY ROSHAN VIVIAN
            06:32 04 Jun 20
            Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
            Basil Daniells
            Basil Daniells
            05:55 03 Jun 20
            I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
            Amar Kashyap
            Amar Kashyap
            19:28 02 Jun 20
            Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
            Radz de Jesus
            Radz de Jesus
            16:03 02 Jun 20
            We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
            More reviews
            js_loader

            Get in touch

            Whatever your question our team will point you in the right direction

            Start the conversation

            UAE allows 100% ownership for foreign nationals

            Jay Krishnan, Partner

            image

              Get Free Consultation




              The much-awaited law pertaining to 100% ownership for foreign nationals while starting a business in UAE mainland has been approved by His Highness Sheikh Khalifa bin Zayed Al Nahyan. The law will come into effect from December 1st of 2020.

              Foreign investors do not have complete ownership of business on UAE mainland as of now and requires an Emirati sponsor to start a business The UAE Cabinet issued Cabinet Resolution No. 16 of 2020 containing the complete FDI Positive List and the requirements for starting companies on UAE mainland in the beginning of this year. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai said that, “the UAE enjoys a fertile legislative environment now for foreign direct investment and looks forward to enhance the nation’s competitiveness.”

              The new law amends 51 articles of the Commercial Companies Law (CCL) and added several new, most of it aiming on the regulations for companies with limited liability shareholding.

              As per the existing CCL, foreign investors were only allowed to have a maximum of 49% of share in a limited liability company (LLC) that functions as an onshore UAE business. The remaining 51% was to be owned by an Emirati individual or a company owned by an Emirati as their local sponsor. The new law grants permission for foreign shareholders to have complete ownership without the presence of a sponsor. This will not be applicable to companies owned by the federal or local government or their subsidiaries, or for those excluded by the Cabinet decisions.

              UAE is reaching out to investors all across the globe with its new and improved laws. The country is aiming to be the most suitable place for investments and is all set to welcome the new business owners to the world of opportunities.

              HLB HAMT’s Consultants closely interact with clients to help setup business on UAE mainland, from the initial to final phase and also assists them with strategic ideas. We provide assistance in;

              • Getting approvals and clearances from various departments,
              • Drafting Memorandum of Association and other necessary agreements
              • Opening bank accounts
              • Finding a proper office location
              • Handling other documentation formalities

               

              Would you like to rate us on Google?         

               

              Varun R Chandra
              Varun R Chandra
              07:38 25 Apr 21
              HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
              Giuseppe Assi
              Giuseppe Assi
              06:20 31 Jan 21
              I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
              Mohamed Sheriff
              Mohamed Sheriff
              16:16 28 Jun 20
              Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
              218141 JOSEPH THOMAS
              218141 JOSEPH THOMAS
              16:20 23 Jun 20
              Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
              PMI
              PMI
              07:14 23 Jun 20
              In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
              RAVI CHOKSI
              RAVI CHOKSI
              08:28 21 Jun 20
              Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
              Maharajan Subramaniam
              Maharajan Subramaniam
              18:17 06 Jun 20
              High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
              Mohammed L
              Mohammed L
              08:07 05 Jun 20
              We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
              ROY ROSHAN VIVIAN
              ROY ROSHAN VIVIAN
              06:32 04 Jun 20
              Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
              Basil Daniells
              Basil Daniells
              05:55 03 Jun 20
              I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
              Amar Kashyap
              Amar Kashyap
              19:28 02 Jun 20
              Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
              Radz de Jesus
              Radz de Jesus
              16:03 02 Jun 20
              We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
              More reviews
              js_loader

              Get in touch

              Whatever your question our team will point you in the right direction

              Start the conversation

              FTA will now issue Tax Residency Certificate in UAE

              Jay Krishnan, Partner

              image

                Get Free Consultation




                Tax residency and commercial activities certificates will now be issued via the Federal Tax Authority and not the Ministry of Finance. MoF has stopped receiving new applications and the applications for the certificates can be made through the FTA’s e-services portal now.

                Tax residency certificates are issued to eligible government entities, companies, and individuals looking to avail the benefits of double taxation avoidance agreements, while the commercial activities certificate enables applicants to refund VAT paid in advance outside the country.

                A tax residency(Domicile) certificate in UAE permits eligible government entities, companies, and individuals to take advantage of agreements of double taxation avoidance. For a person to apply for the certificate, he must be a resident in the UAE for at least 180 days; non-residents cannot apply. Companies that have functioned in the UAE for a minimum of one year can apply for the certificate.

                HLB HAMT provides professional assistance in coordinating with the authority and availing the tax residency (domicile) certificate in Dubai, UAE.

                 

                 
                Would you like to rate us on Google?         

                 

                Varun R Chandra
                Varun R Chandra
                07:38 25 Apr 21
                HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
                Giuseppe Assi
                Giuseppe Assi
                06:20 31 Jan 21
                I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
                Mohamed Sheriff
                Mohamed Sheriff
                16:16 28 Jun 20
                Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
                218141 JOSEPH THOMAS
                218141 JOSEPH THOMAS
                16:20 23 Jun 20
                Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
                PMI
                PMI
                07:14 23 Jun 20
                In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
                RAVI CHOKSI
                RAVI CHOKSI
                08:28 21 Jun 20
                Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
                Maharajan Subramaniam
                Maharajan Subramaniam
                18:17 06 Jun 20
                High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
                Mohammed L
                Mohammed L
                08:07 05 Jun 20
                We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
                ROY ROSHAN VIVIAN
                ROY ROSHAN VIVIAN
                06:32 04 Jun 20
                Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
                Basil Daniells
                Basil Daniells
                05:55 03 Jun 20
                I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
                Amar Kashyap
                Amar Kashyap
                19:28 02 Jun 20
                Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
                Radz de Jesus
                Radz de Jesus
                16:03 02 Jun 20
                We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
                More reviews
                js_loader

                Get in touch

                Whatever your question our team will point you in the right direction

                Start the conversation

                UAE Golden Visa: New categories included

                Lavin Nalinababu, Business Consultancy

                image

                  Get Free Consultation




                  The UAE recently announced that it will grant the 10-year golden visa to all PhD holders, physicians, engineers in the fields of computer engineering, electronics, programming, electricity and biotechnology, as well as graduates from UAE accredited universities whose GPA score is  3.8 and above. The announcement was made by His Highness Sheikh Mohammed bin Rashid Al Maktoum on his Twitter page.

                  People who have specialized degrees in artificial intelligence, big data, or epidemiology and virology in addition to UAE high school top graduates along with their families can also apply for a golden visa I the UAE.  “This is a first batch and it will be followed by other categories. We want talented people and great minds to stay in the UAE and join us in the process of development and achievements,” Sheikh Mohammed tweeted.

                  Golden visa is one of the most looked upon initiatives by the government of UAE, which aims to attract and retain experts and talented professionals from diverse fields and scientific disciplines.

                  The golden visa initiative will be highly beneficial to the country and its property market. It will change people’s perception about UAE; they will start seeing the country as a home and not just a temporary plan.
                   

                   
                  Would you like to rate us on Google?         

                   

                  Varun R Chandra
                  Varun R Chandra
                  07:38 25 Apr 21
                  HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
                  Giuseppe Assi
                  Giuseppe Assi
                  06:20 31 Jan 21
                  I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
                  Mohamed Sheriff
                  Mohamed Sheriff
                  16:16 28 Jun 20
                  Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
                  218141 JOSEPH THOMAS
                  218141 JOSEPH THOMAS
                  16:20 23 Jun 20
                  Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
                  PMI
                  PMI
                  07:14 23 Jun 20
                  In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
                  RAVI CHOKSI
                  RAVI CHOKSI
                  08:28 21 Jun 20
                  Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
                  Maharajan Subramaniam
                  Maharajan Subramaniam
                  18:17 06 Jun 20
                  High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
                  Mohammed L
                  Mohammed L
                  08:07 05 Jun 20
                  We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
                  ROY ROSHAN VIVIAN
                  ROY ROSHAN VIVIAN
                  06:32 04 Jun 20
                  Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
                  Basil Daniells
                  Basil Daniells
                  05:55 03 Jun 20
                  I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
                  Amar Kashyap
                  Amar Kashyap
                  19:28 02 Jun 20
                  Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
                  Radz de Jesus
                  Radz de Jesus
                  16:03 02 Jun 20
                  We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
                  More reviews
                  js_loader

                  Get in touch

                  Whatever your question our team will point you in the right direction

                  Start the conversation

                  UAE Amends Personal and Family Laws

                  Lavin Nalinababu, Business Consultancy

                  image

                    Get Free Consultation




                    UAE is home to different nationalities and has people with different cultures residing here Considering the wide cultural mix the government of UAE has brought in relaxations to its Islamic laws. Laws related to personal freedom, protection of women and family are all included. This new stride will bring in more direct investment and more personals from all over the world to the country.

                    Beginning with the family laws, UAE has taken a significant step regarding divorce and inheritance. According to the amendments, if a couple who married in their home country decides to get separated in the UAE, then to get a divorce the laws of the home country will be applied hereafter. As for the joint assets and accounts, if there are no agreements between the two parties then the court shall act as a mediator.

                    Same will be the case for wills and inheritance. A deceased person’s asset will be divided according to the laws of the home country, in cases where they do not have a written will. For the land purchased in UAE, it will be dealt according to the laws here. 

                    Relaxations have been made to the laws relating to suicide as well. Earlier suicides and attempts to suicide were considered as criminal offenses. But according to the new amendments made a person who survived from attempting suicide will not be sentenced, instead of for those suffering from mental health issues will be provided with necessary aids. A Jail sentence will be ordered for those who are found assisting an individual commit suicide. 

                    If a person causes serious injury or death while giving aid or CPR or other first aid will not be held responsible for their injury or death and will not be given any punishment for the same. Those people will be considered as the “Good Samaritans”. The law clearly states that “any person who’s committing an act out of good intention that may end up hurting that person will not be punished

                    Laws regarding women’s safety and protection have also undergone tremendous changes, as the “honor crimes” no longer stands. If a male relative is found assaulting a woman in the name of “protecting honor”, he will have to face severe punishments now, unlike earlier where he was only given a lighter sentence in regard to “honor”. Harassment of any kind will also be regarded seriously, be it, men or women. Punishment for the rape of a minor or someone with limited mental capacity will be executed. 

                    Alcohol consumption has been legalized. The legal drinking age is 21 anyone caught selling alcohol to a minor will be punished. Drinking or possessing alcohol in authorized areas without a license is no longer a crime in the UAE. It can be consumed in private areas or in legalized public places.

                    UAE has legalized the cohabitation of unmarried couples. It was illegal for an unmarried couple or unrelated flatmates to live together in the country. 

                    According to the recent amendments, the courts should provide legal translators for defendants or witnesses in case they don’t speak Arabic. Also, any evidence related to any indecent act will not be disclosed publicly as per the new privacy laws. 

                    UAE has come a long way in protecting the personal needs of its residents. These new amendments will make the country a much more suitable place for investors and can be a source for more foreign direct investments. 
                     

                     
                    Would you like to rate us on Google?         

                     

                    Varun R Chandra
                    Varun R Chandra
                    07:38 25 Apr 21
                    HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
                    Giuseppe Assi
                    Giuseppe Assi
                    06:20 31 Jan 21
                    I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
                    Mohamed Sheriff
                    Mohamed Sheriff
                    16:16 28 Jun 20
                    Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
                    218141 JOSEPH THOMAS
                    218141 JOSEPH THOMAS
                    16:20 23 Jun 20
                    Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
                    PMI
                    PMI
                    07:14 23 Jun 20
                    In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
                    RAVI CHOKSI
                    RAVI CHOKSI
                    08:28 21 Jun 20
                    Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
                    Maharajan Subramaniam
                    Maharajan Subramaniam
                    18:17 06 Jun 20
                    High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
                    Mohammed L
                    Mohammed L
                    08:07 05 Jun 20
                    We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
                    ROY ROSHAN VIVIAN
                    ROY ROSHAN VIVIAN
                    06:32 04 Jun 20
                    Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
                    Basil Daniells
                    Basil Daniells
                    05:55 03 Jun 20
                    I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
                    Amar Kashyap
                    Amar Kashyap
                    19:28 02 Jun 20
                    Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
                    Radz de Jesus
                    Radz de Jesus
                    16:03 02 Jun 20
                    We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
                    More reviews
                    js_loader

                    Get in touch

                    Whatever your question our team will point you in the right direction

                    Start the conversation

                    Dubai announces new stimulus package of AED 500 million

                    Jay Krishnan, Partner

                    image

                      Get Free Consultation




                      Dubai has come up with yet another economic stimulus package to support the economy and people. The new package amounts to AED 500 million and with this, the total stimulus announced this year sums up to be AED 6.8 billion.

                      “Our goal is to help the businesses overcome the challenges caused due to the outbreak of the pandemic and to recover faster to establish a new phase of economic growth”, said Sheikh Hamdan.

                      Sheikh Hamdan added, “The private sector is a major partner in Dubai’s progress, and considering the struggles of the different sectors, the stimulus package includes a set of fee exemptions and rent reductions as well as the extension of previous relaxations.”

                      He also said, “We are working as a single integrated entity and our prime focus is accelerated recovery. It is important to have a consistent work plan to support all the sectors to help maintain the continuity of businesses, especially for the SMEs. We have to create a more flexible economic environment that can adapt to global changes.”

                      According to the new stimulus package, advertising companies have been exempted from advertising permit fees imposed by the Dubai Municipality for 3 months, with a retroactive effect from March 15 to June 16.

                      Private nurseries of the Emirate have been exempted from commercial license renewal fees; the clinics in nurseries are also provided with extended licenses. The license of the health professionals working in the nurseries has also been extended for a period of 6 months from the date of expiration. A 50% reduction in rents till the end of the year is given to the nurseries functioning in the premises of the ‘Knowledge Fund Establishment.’

                      Sheikh Hamdan has also included amendments to calculate the franchise fee for the taxi sector to enhance the liquidity of operating companies.

                      The new stimulus package has extended the validity of some of the initiatives which were announced during the previous stimulus package for an additional three months. The extension includes the 2.5% freeze on market fee and cancellation of all fines charged due to late payment for government services. The payment of penalties will not require the renewal of commercial licenses also (during this period).

                      In addition, commercial licenses can be renewed without the mandatory lease contract renewal. 25% of the down payment for paying government fees in installments has been cancelled. The fee for sales and special offers has also been exempted.

                      The initiative where the bank or cash guarantee AED 500 for the customs clearance activity will continue to be waived. The bank or cash guarantees which were already paid by the customs clearance companies will be refunded. The fees for the customs documents continue to be AED 5 which was AED 50 for each transaction and the customs complaints processing will be hastened.

                      The relaxations for the tourism, entertainment, and events sectors will be extended till the end of the year. The freeze on fees for hotel rating, ticket sales, issuing permits, and the other government fees will all be extended.

                      As in the education sector, private schools are being exempted from commercial and educational licenses until the end of the year.

                      The temporary entry permit of the artworks loaned from institutions outside the Emirate has been extended till the end of 2020; the artworks which came in by the fourth quarter of 2019 which still remains here are also allowed extension till the end of the year.

                      For the tourism and entertainment sector, the initiative to refund hotel establishments and restaurants 50% of the 7% municipality fees charged on sales has been extended till the end of 2020. The “Tourism Dirham Fees” has also been halved for the rest of the year.

                      In the international sector, the exemptions of docking fees at Dubai port and Hamriya port for traditional commercial vessels that are registered locally in the UAE have been extended.

                      The new stimulus package announced by Sheikh Hamdan has included relaxations for numerous sectors. The aim is to help the economy recover faster. The stimulus packages focus on lending a hand to the struggling businesses, especially the small and medium-sized businesses.

                      Would you like to rate us on Google?         

                       

                      Varun R Chandra
                      Varun R Chandra
                      07:38 25 Apr 21
                      HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
                      Giuseppe Assi
                      Giuseppe Assi
                      06:20 31 Jan 21
                      I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
                      Mohamed Sheriff
                      Mohamed Sheriff
                      16:16 28 Jun 20
                      Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
                      218141 JOSEPH THOMAS
                      218141 JOSEPH THOMAS
                      16:20 23 Jun 20
                      Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
                      PMI
                      PMI
                      07:14 23 Jun 20
                      In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
                      RAVI CHOKSI
                      RAVI CHOKSI
                      08:28 21 Jun 20
                      Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
                      Maharajan Subramaniam
                      Maharajan Subramaniam
                      18:17 06 Jun 20
                      High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
                      Mohammed L
                      Mohammed L
                      08:07 05 Jun 20
                      We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
                      ROY ROSHAN VIVIAN
                      ROY ROSHAN VIVIAN
                      06:32 04 Jun 20
                      Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
                      Basil Daniells
                      Basil Daniells
                      05:55 03 Jun 20
                      I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
                      Amar Kashyap
                      Amar Kashyap
                      19:28 02 Jun 20
                      Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
                      Radz de Jesus
                      Radz de Jesus
                      16:03 02 Jun 20
                      We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
                      More reviews
                      js_loader

                      Get in touch

                      Whatever your question our team will point you in the right direction

                      Start the conversation
                      Get in touch
                      x
                      x

                      Share to:

                      Copy link:

                      Copied to clipboard Copy