Human nature is so created that in order to develop and move forward we need a partner: to create a family we need a second half, to gain knowledge — a teacher, for sports achievements — a coach, for professional growth — a mentor, to succeed in a new field — we need the help of an appropriate expert.
About us
Here, at POWER OF TWO, we are professional corporate services providers supporting individual entrepreneurs, cross border corporations, small and medium-sized enterprises to go global by setting up a company in United Arab Emirates.
While offering a range of corporate services, including company formation & bank account opening, immigration support & compliance maintenance solutions, we guarantee our clients highest level of confidentiality, reliability, and professionalism so they can concentrate on managing operations and growing their business, while ensuring their statutory and regulatory obligations are handled responsibly.
What we do
We help to start live, work and do business in UAE
Corporate Structuring
At POWER OF TWO we believe that the right structuring of a business is the key for its long-term success. When advising on corporate structing, we consider the client’s business and tax goals, investment criteria and any potential risk assessments.
As we thoroughly analyze the appropriate form of entity through which a client should conduct business in UAE to maximize the value of owned assets, our clients who request our advice in this area range from start-up companies to sophisticated investors, family offices and multinational corporations.
A deep understanding of our clients’ businesses and industries is at the core of our counsel. We represent clients of all sizes, types and industries in every aspect of set up, mergers, acquisitions, reorganizations, recapitalizations, spinoffs, redomiciling & other corporate amendments implementation including liquidation of organizations of any type of structural complexity.
POWER OF TWO intends to minimize the internal pressure by maintaining all local procedures in good standing so our clients can focus on their core operations and business targets.
As we thoroughly analyze the appropriate form of entity through which a client should conduct business in UAE to maximize the value of owned assets, our clients who request our advice in this area range from start-up companies to sophisticated investors, family offices and multinational corporations.
A deep understanding of our clients’ businesses and industries is at the core of our counsel. We represent clients of all sizes, types and industries in every aspect of set up, mergers, acquisitions, reorganizations, recapitalizations, spinoffs, redomiciling & other corporate amendments implementation including liquidation of organizations of any type of structural complexity.
POWER OF TWO intends to minimize the internal pressure by maintaining all local procedures in good standing so our clients can focus on their core operations and business targets.
Corporate Secretarial Services
As many firms face difficulties when navigating in an unfamiliar and ever-changing regulatory environment as they extend their business across borders, our Corporate Services Division’s major goal is to become a reliable in-house partner to assist our clients in managing their day-to-day administrative tasks, which are frequently repetitive and time-consuming.
Our Corporate Services Division supports our clients by offering dedicated corporate secretarial services including but not limited to - assistance with a new company registration in UAE; - corporate restructuring, redomiciling and deregistration; - maintenance and renewals of licenses, permits and residence visas, including timely informing on due dates and deadlines; - Regulatory and compliance services including conformity with Common Reporting Standards (CRS), Foreign Account Tax Compliance Act (FATCA), and Know Your Customer (KYC) obligations; - liaising with government authorities, banks, lawyers, commercial offices and agents as applicable.
Our clients are provided with ongoing support on almost all corporate aspects that they require to increase the value of their company, allowing them to focus on what they do best.
Our Corporate Services Division supports our clients by offering dedicated corporate secretarial services including but not limited to - assistance with a new company registration in UAE; - corporate restructuring, redomiciling and deregistration; - maintenance and renewals of licenses, permits and residence visas, including timely informing on due dates and deadlines; - Regulatory and compliance services including conformity with Common Reporting Standards (CRS), Foreign Account Tax Compliance Act (FATCA), and Know Your Customer (KYC) obligations; - liaising with government authorities, banks, lawyers, commercial offices and agents as applicable.
Our clients are provided with ongoing support on almost all corporate aspects that they require to increase the value of their company, allowing them to focus on what they do best.
Bank Account Opening
A business bank account plays a key role in growing any business as it makes easier to keep track of business expenses, simplify tax reporting, and deposit payments whenever required.
The same applies to companies registered in UAE. Consequently, once the entity is licensed, the next step will obviously be choosing a bank that matches the requirements of a business the best.
Let us remind that the choice of a bank can lead to losing assets overnight or protecting them for generations to come. Luckily, the UAE economy is one of the most stable in the world and has not been involved in any conflicts for decades. Having the second-largest economy in the Arab world, the country is renowned for its secure and fast developing banking sector. The UAE Banking Sector includes more than 50 banking institutions to choose from and each of them offers irresistible benefits to local and foreign investors.
Here, at POWER OF TWO we proudly consider ourselves as the firm possessing the best expertise in assisting businesses of any size not only to open their business bank accounts with the UAE banks but also to maintain the accounts in a good standing.
In case you have already chosen the bank of interest or need a kind expert advice on what bank suits your business needs the best, please reach us out and we shall guide you professionally!
The same applies to companies registered in UAE. Consequently, once the entity is licensed, the next step will obviously be choosing a bank that matches the requirements of a business the best.
Let us remind that the choice of a bank can lead to losing assets overnight or protecting them for generations to come. Luckily, the UAE economy is one of the most stable in the world and has not been involved in any conflicts for decades. Having the second-largest economy in the Arab world, the country is renowned for its secure and fast developing banking sector. The UAE Banking Sector includes more than 50 banking institutions to choose from and each of them offers irresistible benefits to local and foreign investors.
Here, at POWER OF TWO we proudly consider ourselves as the firm possessing the best expertise in assisting businesses of any size not only to open their business bank accounts with the UAE banks but also to maintain the accounts in a good standing.
In case you have already chosen the bank of interest or need a kind expert advice on what bank suits your business needs the best, please reach us out and we shall guide you professionally!
Visa Services
UAE residence visa is a permit that allows foreign people to live in UAE for a long period of time. The UAE residence visa can be valid for 2-3 or even 10 years and maybe renewed as many times as a person needs.
In conjunction with enabling individuals to live in UAE, the UAE residence visa entitles its holders to open bank accounts in the secure UAE banks, benefit from the tax-free regime and access quality health, education and hospitality services.
At POWER OF TWO we understand how important and sensitive residence planning can be for our clients and their families. Therefore, we strive to make the process of obtaining the UAE residence visa fast and as stress-free as possible.
In conjunction with enabling individuals to live in UAE, the UAE residence visa entitles its holders to open bank accounts in the secure UAE banks, benefit from the tax-free regime and access quality health, education and hospitality services.
At POWER OF TWO we understand how important and sensitive residence planning can be for our clients and their families. Therefore, we strive to make the process of obtaining the UAE residence visa fast and as stress-free as possible.
Compliance Services
Money laundering is defined as any financial or banking transaction aimed at concealing or changing the identity of illegally obtained funds by passing them through the financial and banking system in order to make them appear as originating from legitimate sources, and then re-pumping and investing them in a legal manner contrary to their real nature.
As a committed member, UAE contributes to global anti-money laundering efforts and combating financing of terrorism (AML/CFT) and strives to fully implement the standards set by the International Financial Action Task Force (FATF).
Accordingly Federal Decree-Law No. (20) of 2018 on Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organizations, and its Implementation Regulation (AML Regulations) was issued in the UAE. Additionally, Cabinet Decision No. 10 of 2019, Concerning the Implementing Regulation of Decree Law No. 20 of 2018 on Anti-money Laundering has been adopted, along with the AML registration guide. Pursuant to the AML Regulations, the Ministry of Economy (MoE) is the supervisory authority entrusted with the supervision of the ‘Designated Non-financial Businesses and Professions’ (DNFBPs) sector at the state level and commercial free zones with regard to AML/CFT.
All the DNFBPs in the United Arab Emirates are required to submit various types of informational reports, such as suspicious transaction reports (STRs), electronically to the UAE Financial Intelligence Department using the “goAML” portal. Developed by the United Nations Office on Drugs and Crime (UNODC), “goAML” is intended for use by financial intelligence units as a means for gathering regulatory reporting information, and for allowing reporting entities and law enforcement authorities to analyze and share information that can help identify criminal activity quickly, securely, and confidentially.
As the administrative penalties relating to non-compliance by DNFBPs ranges from AED 50,000 up to AED 5 million and might lead to business license and reputational lost, we recommend determining whether your business is considered as a DNFBP and if yes, to register in “goAML” accordingly.
Should you require further information on the UAE AML Regulations, please reach us out and we shall advise on your specific situation.
As a committed member, UAE contributes to global anti-money laundering efforts and combating financing of terrorism (AML/CFT) and strives to fully implement the standards set by the International Financial Action Task Force (FATF).
Accordingly Federal Decree-Law No. (20) of 2018 on Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organizations, and its Implementation Regulation (AML Regulations) was issued in the UAE. Additionally, Cabinet Decision No. 10 of 2019, Concerning the Implementing Regulation of Decree Law No. 20 of 2018 on Anti-money Laundering has been adopted, along with the AML registration guide. Pursuant to the AML Regulations, the Ministry of Economy (MoE) is the supervisory authority entrusted with the supervision of the ‘Designated Non-financial Businesses and Professions’ (DNFBPs) sector at the state level and commercial free zones with regard to AML/CFT.
All the DNFBPs in the United Arab Emirates are required to submit various types of informational reports, such as suspicious transaction reports (STRs), electronically to the UAE Financial Intelligence Department using the “goAML” portal. Developed by the United Nations Office on Drugs and Crime (UNODC), “goAML” is intended for use by financial intelligence units as a means for gathering regulatory reporting information, and for allowing reporting entities and law enforcement authorities to analyze and share information that can help identify criminal activity quickly, securely, and confidentially.
As the administrative penalties relating to non-compliance by DNFBPs ranges from AED 50,000 up to AED 5 million and might lead to business license and reputational lost, we recommend determining whether your business is considered as a DNFBP and if yes, to register in “goAML” accordingly.
Should you require further information on the UAE AML Regulations, please reach us out and we shall advise on your specific situation.
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