Information
Economic Substance Regulation
As per the Economic Substance Regulation, all UAE onshore and free zone companies and other UAE business forms (referred to as “Licensees”) are required to notify to the Relevant Authorities as to whether they are conducting the relevant activity or not as per the regulation and required to file the necessary details as mentioned in the Notification form.
Relevant Activities:
- Banking Businesses
- Insurance Business
- Investment Fund Management Business
- Lease-Finance Business
- Headquarter Business
- Shipping Business
- Holding Company Business
- Intellectual Property Business
- Distribution and Service Centre Business
The notifications stand mandatory even if the activities are out of scope of ESR. Penalties for failing to notify the Regulatory Authority within the given deadline is between AED 10,000 and AED 50,000.
We could help you in following phases,
- Assessing ESR applicability to your business & file ESR notification to relevant authority.
- Ensure ESR compliance with the provisions of regulation.
- Consultancy and filing returns within 12 months
Please feel free to call or WhatsApp +971 50 3603186, or email at [email protected]
