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Seamless Compliance Services for Your Business in UAE and Hong Kong

Keeping your financial records accurate and up-to-date is crucial for the success of your business. Emifast offers professional bookkeeping services tailored to meet the unique needs of your business.

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About Compliance

Navigating the complex landscape of business compliance can be challenging, but with Emifast, you can ensure that your business meets all regulatory requirements effortlessly. Our expert team offers comprehensive compliance services tailored to your needs in the UAE and Hong Kong, helping you stay compliant and focus on what you do best—growing your business.

Compliance Services in UAE

Setting up an offshore company with Emifast offers unparalleled benefits, including enhanced privacy, favorable tax regimes, and access to world-class banking facilities.

Licensing and Renewals

  • Business License: Obtain the appropriate business license (trade, service, industrial, etc.) from the relevant free zone or mainland authority.
  • Annual Renewal: Renew your business license annually to avoid penalties or fines.

Office Space

  • Physical Presence: Lease or purchase office space within the free zone or mainland as per the minimum space requirements set by the authorities.

Visas and Immigration

  • Employment Visas: Apply for employment visas for foreign employees and ensure they have valid residency permits.
  • Visa Renewals: Maintain up-to-date records of employee visas and renew them as required.

Shareholder and Director Information

  • Notification of Changes: Inform the relevant authorities of any changes in shareholder or director information.
  • Corporate Resolutions: Submit resolutions or documentation for significant corporate changes, such as changes in shareholding structure or company name.

Audit and Financial Statements

  • Accounting Records: Maintain proper accounting records and prepare annual financial statements.
  • Audited Financials: Submit audited financial statements to the relevant authorities, typically within three months after the end of the financial year.

Economic Substance Regulations (ESR)

  • ESR Compliance: Comply with ESR if the company undertakes relevant activities (e.g., holding company activities, intellectual property business).
  • Annual ESR Reporting: Submit an annual ESR notification and, if applicable, an ESR report demonstrating economic substance in the UAE.

Ultimate Beneficial Ownership (UBO)

  • UBO Disclosure: Disclose UBO information to the relevant authorities.
  • UBO Records: Maintain and update UBO records as required by UAE regulations.

Anti-Money Laundering (AML) & Counter-Terrorist Financing (CTF)

  • AML/CTF Policies: Implement AML and CTF policies and procedures as required by UAE law.Suspicious Transaction Reporting: Report suspicious transactions to the relevant authorities.

Data Protection

  • Data Privacy: Comply with the UAE’s data protection laws and regulations, ensuring the privacy and security of personal data.

Employee Benefits and Compliance

  • Labor Law Compliance: Provide employee benefits as required by UAE labor law, including end-of-service gratuity and health insurance.
  • Employment Contracts: Comply with labor law regulations regarding employment contracts, working hours, and employee rights.

Corporate Governance

  • Governance Practices: Ensure that the company complies with corporate governance practices, including holding annual general meetings and maintaining proper records of minutes and resolutions.

Company Registration

  • Company Name: Must be unique and not similar to existing company names.
  • Registered Office: Must have a registered office address in Hong Kong.
  • Company Secretary: Must appoint a company secretary who is a Hong Kong resident or a Hong Kong-based corporate entity.
  • Directors and Shareholders: Minimum one director (can be non-resident) and one shareholder (can be the same person).

Annual Compliance Requirements

  • Annual Return: File an annual return with the Companies Registry, detailing the company’s structure, shareholders, and directors.
  • Annual General Meeting (AGM): Hold an AGM within 9 months after the end of the financial year. Alternatively, written resolutions signed by all shareholders can be used.

Financial Statements & Audits

  • Accounting Records: Maintain accurate and complete accounting records, including invoices, receipts, and other financial documents.
  • Audited Financial Statements: Prepare annual financial statements and have them audited by a certified public accountant in Hong Kong. These must be presented at the AGM.

Tax Compliance

  • Profits Tax: Submit a profits tax return to the Inland Revenue Department (IRD) annually. The current corporate tax rate is 16.5% on assessable profits.
  • Tax Filing Deadlines: Adhere to the deadlines for filing tax returns and paying taxes to avoid penalties.
  • Employer’s Return: If the company employs staff, file an Employer’s Return annually, detailing employees’ salaries and tax withholdings.

Business Registration Certificate

  • Renewal: Renew the Business Registration Certificate annually or every three years, depending on the chosen renewal cycle.

Significant Controllers Registration(SCR)

  • Maintaining SCR: Maintain a Significant Controllers Register, listing individuals or entities with significant control over the company. This register must be kept at the company’s registered office and made available for inspection by law enforcement officers.

Anti-Money Laundering (AML) & Counter-Terrorist Financing (CTF)

  • Compliance Measures: Implement AML and CTF policies and procedures, including customer due diligence and record-keeping.
  • Suspicious Activity Reporting: Report any suspicious transactions to the relevant authorities.

Data Protection

  • Personal Data (Privacy) Ordinance: Comply with the Personal Data (Privacy) Ordinance, ensuring the proper handling and protection of personal data.

Employment Compliance

  • Mandatory Provident Fund (MPF):Enroll employees in the MPF scheme and make the necessary contributions.
  • Employment Ordinance:Adhere to the Employment Ordinance, covering employee rights, contracts, working hours, and other labor regulations.

Record Keeping

  • Statutory Records: Maintain statutory records, including minutes of meetings, resolutions, registers of directors and shareholders, and other corporate documents.