Navigating Economic Substance Regulations (ESR)
ESR requires UAE onshore and free zone companies that undertake 'Relevant Activities' to maintain an adequate economic presence in the UAE. The first step in compliance is the mandatory annual Notification filing.
Key ESR Support Services
- Assessment of 'Relevant Activities' such as Banking, Insurance, Investment Fund Management, Lease-Finance, Headquarters, Shipping, Holding Company, Intellectual Property, and Distribution & Service Centers.
- Verification of the 'Substance Test' requirements.
- Preparation and electronic filing of the ESR Notification via the Ministry of Finance portal.
- Advisory on ESR Report filing for entities earning income from relevant activities.