Economic Substance Regulation in UAE
The United Arab Emirates Cabinet has issued the Cabinet of Ministers Resolution No.31 of 2019 and it requires all in-scope UAE entities to maintain an economic substance.
Economic substance regulation will be applicable to onshore and free zone companies that engage in any of the below mentioned “Relevant Activities”;
Banking
Insurance
Investment Fund Management
Lease-Finance
Headquarters Businesses
Shipping
Holding Company Businesses
Intellectual Property
Distribution and Service Centers Businesses
All mainland companies must file ESR notification within 30th June.
Vitta Financial Analysis & Consultancy LLC Management provides consulting on ESR and helps in identifying the qualifying entities and business segments for ESR compliance. We also take care of the process of filing ESR with the authorities within the time given
Free Consultation
Sojen Manjila, Partner
