Asset Declaration Form For Employees for United Arab Emirates

Asset Declaration Form For Employees Template for United Arab Emirates

This document serves as a comprehensive asset declaration form for employees in the United Arab Emirates, designed to comply with UAE Federal laws including Employment Law No. 33 of 2021 and Anti-Money Laundering Law No. 31 of 2021. It provides a structured framework for employees to disclose their financial assets, real estate holdings, business interests, and significant liabilities. The form includes detailed sections for various types of assets, attestation requirements, and privacy notices, ensuring transparency while maintaining confidentiality in accordance with UAE data protection regulations.

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What is a Asset Declaration Form For Employees?

The Asset Declaration Form For Employees is a crucial compliance document used in the United Arab Emirates to maintain transparency and prevent conflicts of interest in both public and private sector organizations. This document is typically implemented as part of an organization's governance framework, requiring employees to declare their financial interests, real estate holdings, business investments, and significant assets. It is particularly relevant in sectors with strict regulatory oversight such as banking, government, and financial services. The form addresses requirements under UAE Federal laws regarding employment, anti-money laundering, and financial transparency, while also incorporating necessary data protection measures. Organizations typically require this declaration upon employment commencement, annually thereafter, or when significant changes in assets occur.

What sections should be included in a Asset Declaration Form For Employees?

1. Employee Information: Basic details of the employee including name, employee ID, position, department, and date of joining

2. Purpose and Legal Basis: Statement explaining the purpose of the declaration and legal requirement under UAE law

3. Definitions: Clear definitions of terms used in the form such as 'assets', 'immediate family members', 'beneficial ownership', etc.

4. Declaration Instructions: Detailed guidelines on how to complete the form and what information must be disclosed

5. Real Estate Assets: Declaration of all real estate properties owned, including location, value, and ownership percentage

6. Financial Assets: Details of bank accounts, investments, stocks, bonds, and other financial instruments

7. Business Interests: Information about ownership in businesses, partnerships, and commercial entities

8. Vehicles and Movable Assets: Declaration of vehicles, valuable items, and other significant movable properties

9. Liabilities: Disclosure of loans, mortgages, and other financial obligations

10. Confirmation and Attestation: Employee's confirmation of accuracy and completeness of the declaration

11. Privacy Notice: Information about how the declared data will be processed and protected

What sections are optional to include in a Asset Declaration Form For Employees?

1. Overseas Assets: Section for declaring assets held outside the UAE - required for senior positions or if company policy requires

2. Family Members' Assets: Declaration of assets owned by immediate family members - used when required by company policy or regulatory requirements

3. Gift Declarations: Section for declaring significant gifts received - typically included for senior management or public sector employees

4. Income Sources: Declaration of additional income sources - used when company policy restricts external income

5. Conflict of Interest: Detailed section for declaring potential conflicts - particularly important for senior positions

6. Previous Year Comparison: Section comparing assets with previous declaration - used for annual or periodic declarations

What schedules should be included in a Asset Declaration Form For Employees?

1. Schedule A - Asset Categories and Thresholds: Detailed list of asset categories and minimum values requiring declaration

2. Schedule B - Supporting Document Requirements: List of required supporting documents for each type of declared asset

3. Schedule C - Declaration Update Form: Form for updating declarations between regular submission periods

4. Appendix 1 - Asset Valuation Guidelines: Guidelines for determining the value of different types of assets

5. Appendix 2 - Frequently Asked Questions: Common questions and answers about the declaration process

6. Appendix 3 - Privacy Policy: Detailed privacy policy regarding the handling of declared information

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Publisher

Genie AI

Document Type

Employment Form

Cost

Free to use
Relevant legal definitions
Relevant Industries

Banking & Financial Services

Government & Public Sector

Real Estate & Construction

Energy & Resources

Healthcare

Defense & Security

Telecommunications

Professional Services

Education

Transportation & Logistics

Retail & Consumer Goods

Manufacturing

Technology

Relevant Teams

Human Resources

Legal

Compliance

Internal Audit

Finance

Risk Management

Corporate Governance

Operations

Procurement

Treasury

Investment

Senior Management

Board Secretariat

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Board Member

Executive Director

Senior Manager

Financial Controller

Compliance Manager

Risk Officer

Procurement Manager

Investment Manager

Treasury Manager

Department Head

Project Manager

Government Relations Officer

Senior Accountant

Operations Manager

Branch Manager

Portfolio Manager

Trading Manager

Public Official

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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