Economic Substance Regulations (ESR) in the UAE

The UAE introduced a Resolution on the Economic Substance (Cabinet of Ministers Resolution No.31 of 2019, the “Regulations”) on 30 April 2019. It requires UAE resident companies that carry on a “relevant activity” (RA), including finance, holding, shipping, headquarter and service centre activities, to demonstrate economic substance in terms of people, assets and functions in the UAE. Under the ESR, all filing requirements fall under the remit of the relevant Regulatory Authority, and as such it is the Regulatory Authorities that set the requirements, deadlines and format for notification filing as they believe is appropriate and which may vary. esr consulting in uae and bahrain, economic substance regulations in uae and bahrain, accounting in Abu Dhabi Dubai and Manama.

esr consulting in uae and bahrain, economic substance regulations in uae and bahrain, accounting in Abu Dhabi Dubai and Manama. QUANTUM AUDITING provides the following services related to ESR:

    • Continue monitoring the announcements closely and keep clients updated To have primary check for business on the applicability of ESR To assist the Licensee to file ESR Notification with the Relevant Authorities To provide step by step guidance regarding further ESR requirements Providing suggestions and improvements to ensure the compliance of Law To file an Economic Substance return for the Reportable Period (where required) esr consulting in uae and bahrain, economic substance regulations in uae and bahrain, accounting in Abu Dhabi Dubai and Manama.

Quantum Auditing offers support to the business community in the UAE with diligence in compliance with Economic Substance Regulations. We are well placed to assess the impact of the Rules on your organisation and assist you in complying with the Resolution, including working with you to complete and submit the required ESR notification and ESR Annual Return. esr consulting in uae and bahrain, economic substance regulations in uae and bahrain, accounting in Abu Dhabi Dubai and Manama.

For ESR related enquiries:

Email: info@quantumauditing.com

Mobile: +971 55 4145900

 

Summary
Economic Substance Regulations (ESR)
Service Type
Economic Substance Regulations (ESR)
Provider Name
Quantum Auditing,
Dubai,Dubai,Dxb-115144,
Telephone No.971 4 3423620
Area
Dubai, UAE
Description
The UAE introduced a Resolution on the Economic Substance (Cabinet of Ministers Resolution No.31 of 2019, the “Regulations”) on 30 April 2019. It requires UAE resident companies that carry on a “relevant activity” (RA), including finance, holding, shipping, headquarter and service centre activities, to demonstrate economic substance in terms of people, assets and functions in the UAE. Under the ESR, all filing requirements fall under the remit of the relevant Regulatory Authority, and as such it is the Regulatory Authorities that set the requirements, deadlines and format for notification filing as they believe is appropriate and which may vary.