Усиление контроля за поставщиками виртуальных активов в ОАЭ
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The United Arab Emirates, in particular the city of Dubai, is one of the most attractive tax jurisdictions for the sale of virtual assets. This is due to the fact that the personal income tax (PIT) in this jurisdiction is 0%, the corporate income tax is also 0%, and the value added tax (VAT) is 5%.
🛃 It is not surprising that Dubai has become a popular place for the relocation of various companies, as well as a place for the concentration of significant capital, a “safe haven” for businessmen under sanctions.
💳 It is no secret that a number of “shadow” entrepreneurs from “Moscow City” help to withdraw funds from Russia through cryptocurrency transfers or a scheme for “ rearranging ” funds to the UAE and other countries.
⬆️ These problems are not exclusive; cryptoassets are actively used for laundering funds obtained by criminal means and withdrawing capital abroad, all over the world.
➡️ As part of the UAE’s response to the above risks, the National Anti-Money Laundering, Counter-Terrorism and Counter-Terrorist Financing Committee (NAMLCFTC), in conjunction with the UAE supervisory authorities, has issued guidance on combating the use of unlicensed Virtual Asset Service Providers (VASPs), which was prepared by a supervisory sub-committee . Link to document .
❓ In other words, VASPs are cryptocurrency exchanges, P2P exchange services, issuers of cryptocurrencies and NFTs, etc.
➡️ The new rules include fines and other legal consequences for VASPs and their managers operating without proper licenses within the UAE, failing to disclose information to regulators, and exercising weak anti-money laundering and anti-terrorism financing (Red Flags) controls. etc.
❗️ To avoid possible risks of using unlicensed VASPs and not to fall under the anti-money laundering law in the UAE, you should use only licensed VASPs. Their list is presented in the corresponding state register .
