Economic Substance Regulations – ESR
The Regulations for Economic Substance (ES) in the UAE were introduced by the Cabinet of Ministers Resolution no. 31/2019, which became effective on 30 April 2019. Under this law, all companies registered in the UAE (known as ‘licensees’) that engage in Relevant Activities are required to demonstrate effective substance in the country by passing an economic substance test annually. Failing to adhere to these Economic Substance Regulations can result in penalties. At Mabade, we can provide assistance in assessing the impact of this legislation on your business, offer preliminary assessments of your company’s current compliance obligations, and help you identify the most efficient and cost-effective solutions to meet your administrative and statutory compliance responsibilities. We also offer support with Economic Substance Regulations reporting and notification requirements.
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