Compliance Matters
Running a business in the UAE means staying on top of various regulatory requirements. Here are the most common mistakes.
1. Missing Renewal Deadlines
Trade license renewals, visa renewals, and insurance policies all have strict deadlines.
2. Poor Record Keeping
Maintaining organized financial records is not just good practice — it is a legal requirement.
3. Ignoring ESR Requirements
Economic Substance Regulations affect many businesses but are often overlooked.
4. Late VAT Filing
VAT returns must be filed on time to avoid penalties of up to AED 1,000 per day.
5. Not Using Professional Support
Many compliance issues can be avoided with proper professional guidance.