Equiom in the DIFC offers individuals, family offices and businesses a full range of trust, fiduciary, compliance and risk management services.
End of Service Savings Plan
End of Service Gratuity (EOSG) is a statutory obligation for companies across many Middle Eastern jurisdictions, and is designed to help fund employees’ future retirement needs. The requirement for a company to pay EOSG is well known and a frequently talked about subject.
Our EOSG services for institutional asset managers include:
- Employer sponsored workplace savings / retirement plans
- End of service funding plans
- Employee benefit trusts
- A bespoke EOSG solution tailored to specific requirements influenced by the company’s specific corporate objectives, needs and budget
- An ‘unbundled’ approach with typically fixed fees, meaning greater cost efficiency, flexibility and a secure, structured, low cost. This means employers can fund their payment obligations throughout the employee’s employment, and beyond, if required
- A range of services from simple trust structures which ring fence funds, to sophisticated fully interactive solutions which give employees the freedom to access and manage their own funds and data online
- An opportunity for employees to utilise the structure to make voluntary contributions direct from salary
Payroll & People
Equiom provides a range of payroll and people services that can be tailored to suit any company in the UAE, regardless of its size or the number of employees.
Our highly trained team can support your organisation’s needs, whether you are looking to reduce your operational costs or simply do not have the in-house expertise or resource available. Equiom complies with all the latest regulations in the region, so that you can rest assured your staff are taken care of for the duration of their employment, including setting up their visa, payroll and even taking care of their End of Service Gratuity.
Equiom provides an unrivalled level of service with fully dedicated client relationship teams on hand 24/7 to answer your questions.
Our payroll services in the UAE include:
- Provision of a secure UAE compliant monthly wage protection system (WPS)
- Co-ordination of payroll administration
- Maintenance of payroll related records including provision of payslips
- Assistance in obtaining mandatory UAE medical insurance
- HR consultancy services
- HR on-boarding and administration services
- UAE orientation
Our people services in the UAE include:
- Turnkey visa services for any company in any Emirate in the UAE, whether you need employment visas, dependent visas, investor visas, domestic worker visas (free zones), visit visas, golden visas, tourist visas, short-term visas, mission visas or even visa cancellation
Risk & Compliance
We provide outsourced compliance services for institutional asset managers to ensure that you remain compliant with the rules and regulations set out by local regulatory bodies. We work with you to ensure robust systems and controls are in place and provide additional compliance or risk management support where needed. Our knowledgeable team specialises in compliance across multiple sectors from asset management to private and investment banking.
Equiom’s managed compliance solutions are the perfect complement to any organisation, delivering considerable benefits. Our hands-on experience means we help our clients develop and manage effective compliance programs to identify issues before they become violations.
This service is ideal for those thinking of setting up in a new region, looking to consolidate an existing business, in need of temporary cover for unexpected staff absences or even wishing to undertake additional compliance training.
Our compliance and risk management services include:
- Providing suitable individuals to act as Compliance Officer and / or Money Laundering Reporting Officer (MLRO) on an outsourced basis
- Training and mentoring or ad hoc support for an existing in-house compliance / anti-money laundering (AML) function
- Assisting in preparation for regulatory risk assessments or responding to enforcement proceedings
- Conducting mock interviews to prepare individuals for authorisation by the local regulator
- Compliance and AML focused audits, reviews or special projects
- Creating mandatory compliance, AML and counter terrorist financing materials
- Delivering all aspects of compliance and AML training as required by the regulator
We provide advice and guidance on:
- A firm’s ability to meet local regulatory requirements
- The duties and responsibilities of Authorised Individuals
- A firm’s policies, procedures, systems and controls
- Regulatory risk assessments, thematic reviews or regulatory visits
- The set-up of the compliance function and creating a strong compliance culture
- Data protection advisory
Benefits of outsourcing your compliance function include:
- Access to a pool of subject matter experts
- A convenient and cost-effective way to address regulatory issues
- Swift access to additional support in times of change, such as firms facing sudden growth and / or increased regulatory demands
- Ease the burden on internal infrastructure
- Address a short-term or long-term shortage of talent
- Help to navigate complex and continually changing regulations
Structure Set Up & Support
For clients thinking of setting up a new business or re-structuring an existing company, Equiom simplifies the process by providing an appropriate solution and structure for that company.
Equiom has been providing its market-leading company services for over 40 years, helping clients to meet their personal and business needs, while protecting their ownership and controlling interests every step of the way.
We offer the following company services for Multinational Corporations:
- Company incorporation and registration
- Formation of a trust / foundation
- Establishing a branch of a foreign company (subject to market restrictions which we can guide you through)
- Notarisation & attestation services
- Government liaison and Public Relations Officer (PRO) support services
- Key personnel, including company directors, nominee shareholders and company secretarial services
- Market intelligence and due diligence
- Market insights and introductions to major buyers, projects, and government stakeholders
- Escrow services
Trustee & Fiduciary Services
Trust is something that is earned
Operating throughout the world’s most stable and reputable jurisdictions, our international trust and foundation specialists identify the most appropriate trust structures to protect and enhance your private or corporate wealth and assets.
Our experienced teams operate in both common law and civil law jurisdictions. We guide you through the complexities of local laws and regulations to find the right solution for you, organising the initial establishment of a trust or foundation and administering it carefully to maximise the benefits. We ensure its legal and tax status is maintained and provide regular accounting and financial reporting.
Over the years, we have earned an enviable reputation as leading professional trustees, dedicated to maintaining our clients’ prosperity. We aim to give you more control over your assets today, and more confidence about your holdings tomorrow – helping ensure that your family, employees, or favoured charities are well looked after for years to come.
In the DIFC, Equiom (through Equiom Fiduciary Services (Middle East) Limited) offers :
- Establishment and administration of trusts and foundations, which can hold a variety of financial and non-financial assets
- Dedicated accounting and financial reporting
- Estate planning
- The establishment and maintenance of banking relationships
- DIFC Trusts
We can also assist with:
- Private trust companies
- Managed trust companies
- Employee benefit trusts
- Employee ownership trusts
- Charitable trusts
- Property unit trusts
- Purpose trusts
- Will trusts/pilot trusts
- Executor services
- Benefits of a trust
- Asset protection and careful planning to ensure tax efficiency
- Succession planning with full control on how assets are distributed upon death
- Confidentiality and the avoidance of a public probate court hearing
Equiom Fiduciary Services (Middle East) Limited is regulated by the Dubai Financial Services Authority (DFSA).