Before the economic development, The United Arab Emirates (UAE) was one of the least developed countries of the world. However, at present it has achieved a level of income comparable to that of the most economically developed and industrialized nations. Oil revenues have allowed the country to leap various stages of development and focus on mass consumption which resulted in saving and capital accumulation necessary for its economic development. The country’s authorities has successfully implemented a human development policy, starting from the early 1970s, leading to a long-term economic development in the UAE which followed by industrialization, urbanization and modernization.

UAE is not a territory that is dependent on another country or governing body, meaning that it is also not a subject to EU regulation. UAE is not a member of the Organization for Economic Cooperation and Development (OECD) and does not partake in the foreign automatic exchange of information. It is famous for its modern offshore legislation which allows a complete foreign ownership with no requirement to have a local partner while doing business on the UAE territory. It also has efficient and up-to-date communication means which makes all the business activities easily done in a short time frames.

UAE free trade zone authorities UAE has two main offshore authorities, one of which is located in the Jebel Ali Free Zone (JAFZA) and the other in Ras Al Khaimah (RAK) and one more jurisdiction called Ajman Freezone (AFZA) which is a free trade zone in Ajman and of seven emirates in the United Arab Emirates. They were known for the ship building and commercial activities in the maritime sector for the past decades. However, today they are now better for their industrial sector. These are referred to international business companies that conduct business internationally, providing businessmen opportunities to own real estate in the UAE which can be further used as a trading vehicle as well as to maintain bank accounts and other useful commercial options for doing business on a global scale.

These offshore authorities offer rather competitive prices, business transparency together with clients’ private data protection via secured systems and also a dedicated manager available throughout the year. One more feature is that Company registration in UAE offshore authorities normally takes about 2 days to be completed which is one more attractive feature for all the business people worldwide.

Advantages of UAE company In general there are various advantages which can be related to UAE offshore companies due to which they have a good reputation throughout the decades, especially in past 20-30 years when UAE and its companies has become a global business spot, while not having a tax haven stigma attached to them. UAE offshore company offshore is also referred to as an international Business Company or a non-resident Company. First of all these are anonymity, privacy protection, absence of auditing, absence of accounting or reporting requirements, absence of requirement to deposit the capital in the bank, absence of minimum capital requirement. Additionally there is a complete tax and duty exemption and complete foreign ownership permission available. All the nominee services are carried out through lawyers and one more additional bonus is that the established offshore company can own real estate properties in UAE.

UAE companies conduct stringent international due diligence checks to ensure an appropriate level of protection, having strict risk control procedures in place to prevent any unregulated or undesirable elements while making business deals. These are the conditions suitable for businessmen and entrepreneurs doing commerce over the Internet, wide range of traders, expatriates, consultants and counsellors, holding intellectual property rights for the custody of real estate or for inheritance purposes.

A branch is a unit of a parent company incorporated in a foreign market or other location with the aim of doing business. A branch is not an independent entity in either a legal or functional sense – it is set up as an extension of the parent company, which is responsible for its liabilities and taxes.

Branch activities
Because branches are sub-divisions of the parent company, they can be used to carry out the same activities, including but not limited to:

Sale of goods and services
manufacture of products
store products
collect data
Conducting market research
launch advertising campaigns
In other words, a branch office acts as a representative of the parent company even though it is physically separate from the main office. This aspect of physical presence in a foreign or otherwise distant market is the main benefit of having a branch office. It ensures a tangible presence and also acts as a base or hub in the logistics network of the parent company.

Another important task of a branch office is to act as a contact point for customers. In addition to selling a product or service, depending on what the company manufactures, a branch office can be used to make repairs, store goods for on-site transactions (i.e., act as a retail store), and generally serve as a customer support center .

In addition, a branch office is an important element in a company's market research and business expansion strategy. A branch may hire local people to gain insight into the culture and environment of a foreign market and to draw on knowledge of the market itself. The home office of the parent company cannot do this and would need mediators or advice from experts on the foreign market. Depending on the distance to the home office, a branch office can also be advantageous in responding to certain business events, since information is more likely to be received earlier.

Advantages of a branch
A branch office has several advantages over other forms of corporate representation in a foreign market:

Scope of activities
A branch office can perform the same activities as the home office while providing better access to local resources and information.
local presence
A branch office can access local suppliers and customers without having to build a delivery and supply network, increasing the overall effectiveness of the company's services, and negating the effect of distance between the overseas market and the home office can discourage potential partners.
Service adjustability
Because a subsidiary is a separate structure, its activities can be adapted to meet the needs of a foreign market without overhauling the structure of the entire company - rather than the home office, location-specific products, types of services, etc. can be assigned to the subsidiary to manage .

Adult literacy rate in Rwanda is 70.5%. Male literacy is 73.2%. Female literacy is 68%. Therefore, male literacy and female literacy differ by 5.2%. Government expenditure on education is 4.1% of GDP. The education index of Rwanda is 0.478 - formal education levels are low and are mostly limited to primary and secondary school levels at best; higher education is possible, but not very widespread. People in Rwanda speak the French, English, and Kinyarwanda languages.

The compliance function in a bank, brokerage firm or other financial institution is designed to ensure compliance with all applicable rules, laws and regulations, whether local or international. The traditional compliance model was designed as a law enforcement tool, with only a limited focus on real risk identification and management.

Today, however, the tasks of the compliance staff include monitoring bank activities and identifying and evaluating risk areas. The latter may include testing and evaluating the adequacy of the bank's policies and security and risk assessment tools. The compliance unit can also implement solutions to address identified risks, design compliance programs for new rules and regulations, and oversee employee training programs.

Possible risks
Compliance rules, laws and standards typically cover matters related to maintaining reasonable standards of market conduct and treating clients fairly. Depending on the size of their business, banks' compliance obligations can range from preventing conflicts of interest, money laundering and tax evasion to monitoring trading activities and ensuring compliance with applicable regulations. The compliance requirements for most financial institutions have increased significantly since the financial crisis of 2008, and new compliance issues are constantly emerging – such as conduct risk, risk culture, anti-money laundering and the risk of the Next Generation Bank Secrecy Act (AML/BSA) and third – and including fourth party risk.

The compliance function needs to broaden its focus beyond the financial institution and its employees. It is also responsible for ensuring that the bank's customers do not use the bank for illegal activities such as tax evasion, money laundering or terrorist financing. If illegal activities are suspected, the compliance office must ensure that the bank takes the right steps, otherwise it can be held liable.

While banks view compliance requirements as a way to keep their reputations clean, non-compliance can result in hefty fines, regulatory and legal penalties, and reputational damage. “Compliance risk” is defined as a bank's risk of suffering regulatory or legal sanctions, reputational damage or significant financial loss because of its failure to comply with regulations, laws, rules, relevant self-regulatory standards and codes of conduct applicable to specific business operations.