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Dubai - First Audit Request From DIEZ

Greetings,

I received the DIEZ audit request. I don’t live in the UAE, and my company hasn’t had any activity for 2 years. I have another paid year and don’t want to lose it. Can I still pass the audit?

Are there penalties for not having accounting records or audits from DIEZ? What’s the worst that could happen?
 
Greetings,

I received the DIEZ audit request. I don’t live in the UAE, and my company hasn’t had any activity for 2 years. I have another paid year and don’t want to lose it. Can I still pass the audit?

Are there penalties for not having accounting records or audits from DIEZ? What’s the worst that could happen?
I can’t really answer this and also don’t want to give any advise that cause Problems.

Have their been money generated ever since with this company? Kindly explain a bit more and I try my very best to give you an answer but again: I am not a lawyer so it’s just my „opinion“

Do they accept only DEWA/rental agreement as proof of address for UBO, or can I send a bank statement/utility bill as well?
They do
 
Well, it's been several months since we sent off the documents to DIEZ and today we received some pushback, namely on the UBO/Shareholder's proof of address. We originally just submitted the original lease agreement which expired 11/2023. Additionally, there was a request for the signed UBO declaration to trade authority - this one should be easy. We currently do not have a lease agreement for the Managing Director, what did others provide for this?

Is it acceptable to just say that currently the MD is searching for a new place of residence, or was there a prerequisite for a place of residence in Dubai as part of the incorporation?
 
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Well, it's been several months since we sent off the documents to DIEZ and today we received some pushback, namely on the UBO/Shareholder's proof of address. We originally just submitted the original lease agreement which expired 11/2023. Additionally, there was a request for the signed UBO declaration to trade authority - this one should be easy. We currently do not have a lease agreement for the Managing Director, what did others provide for this?

Is it acceptable to just say that currently the MD is searching for a new place of residence, or was there a prerequisite for a place of residence in Dubai as part of the incorporation?
No idea. When did you provide data? Kind of the only person I know who they came back to
 
Weird. I know ppl who submitted even earlier and non of them (including me) ever heard back from them.

I think it is not mandatory to have a place in the uae. I would let them know the the ubo is currently looking for a new place or left the country for some months and will return in … let’s say 4-5 months.

Chances are high you will not hear back from them.