Compliance Declaration Form
Compliance Declaration:
I/We hereby declare that the company business will comply with Cabinet Decision No. (10) of
2019 concerning the Implementing Regulation of Decree Law No. (20) of 2018 on Anti-Money
Laundering and Combating the Financing of Terrorism and Illegal Organization and all relevant
Federal AML, CFT and Sanctions regulations.
Sanction Declaration:
It is the policy of the RAK DAO to fully comply with all sanctions laws and regulations of the
United Arab Emirates, United Nations, United States, European Union and United Kingdom, as
well as other such laws and regulations, when applicable to its business (collectively, "Sanctions").
To the best of our knowledge, neither our Proposed Legal Entity nor any of the company's
related parties are a "Sanctions Target" which includes persons or entities that are:
Listed by United Arab Emirates, United Nations, United States, European Union and
United Kingdom as a target of Sanctions.
Owned or controlled by, or operating as agents of, the Government of Cuba, Iran, North
Korea, Syria or Venezuela; or
Resident or domiciled in Iran, Syria, North Korea, Cuba, Crimea or the oblasts of Kherson,
Zaporizhzhia, Donetsk or Luhansk of Ukraine (referred to collectively as the "Embargoed
Countries").
To the best of our knowledge, neither our Proposed Legal Entity nor any of the
company's related parties are owned by a Sanctions Target.
To the best of our knowledge, neither our Proposed Legal Entity nor any of the
company's related parties have any presence in (i.e., registered office, branch office,
subsidiary or other operations, address, principal place of business), or "Business Activity"
(i.e., sales or purchases, including through agents or intermediaries, transshipments. etc.)
with or involving, directly or indirectly, an Embargoed Country.
To the best of our knowledge, neither our Proposed Legal Entity and related parties do
not and will not have any business activity with or involving, directly, a Sanctions Target.
We confirm that all of our business with, through or involving RAK DAO will not involve a
sanctioned country (at present, Crimea, Cuba, Iran, North Korea or Syria), including goods
procured from or transhipped through a sanctioned country, or violate or cause RAK
DAO to violate any economic or financial sanctions or trade embargoes implemented,
administered or enforced by the United Arab Emirates, the United Nations, United States,
Issued by Ras Al Khaimah Digital Assets Oasis Authority and subject to all Laws, Regulations & Rules that belong to the authority.
European Union, United Kingdom or other relevant sanctions authorities.
Related parties include bit are not limited to shareholder, beneficial owners, key
controllers (e.g., directors and senior managers), trustees, founders/grantors/settlors and
beneficiaries.
By signing below, I/We hereby certify that I/we am an authorized party ho has the
capacity and authority to make this Application for Registration with RAK DAO. I/We
accept to settle all fee(s) that are applicable to process this application.
I/We also certify that all information provided is correct to the best of my/our knowledge.
I/We further certify that I/we shall comply with all RAK DAO applicable rules and
regulations.
Business Activity Undertaking
Each Company incorporated in the Zone must comply with Federal Law when engaging in its
business activities in the UAE. Accordingly, no Company shall engage in any business activity in
the UAE, whether inside or outside the Zone (within the meaning of Article 5 of Federal Law No.
32 of 2021 concerning Commercial Companies), unless it has first obtained all appropriate
licenses and/or approvals required for the purposes its activities from the competent
governmental or regulatory authorities in the UAE.
Without limitation to the generality of the foregoing, licenses may be required if any of the
activities of the Company involve financial products, currencies, virtual assets or commodities
and comprise:
· acting as an exchange
· acting as a broker / dealer
· providing advice or custody services
· providing electronic payment services
· marketing, promotion or solicitation
It is your duty to undertake your own investigations and evaluations of your intended business
activities to determine whether it constitutes a regulated activity which requires a license and/or
approval from the relevant governmental or regulatory authorities in the UAE. If you are not
aware of or do not know whether your intended business activity shall constitute a regulated
activity, you should seek legal advice.
RAK DAO shall not have any liability in respect of a Company’s failure to obtain the relevant
Issued by Ras Al Khaimah Digital Assets Oasis Authority and subject to all Laws, Regulations & Rules that belong to the authority.
licenses and/or approvals from any governmental or regulatory authority in the UAE.
RAK DAO has no responsibility for reviewing or verifying the intended business activities of the
Company to determine whether it shall constitute a regulated activity requiring license and/or
approval from the relevant governmental or regulatory authorities in the UAE including but not
limited to SCA and CBUAE.
Authorized Signature:
Date:
Issued by Ras Al Khaimah Digital Assets Oasis Authority and subject to all Laws, Regulations & Rules that belong to the authority.
