Economic Substance Regulations Deadline UAE
Jay Krishan, Partner
13 June, 2020
The United Arab Emirates Cabinet has issued the Cabinet of Ministers Resolution No.31 of 2019 and it requires all in-scope entities to maintain an economic substance UAE.
Economic substance regulations will be applicable to companies that engage in any of the below mentioned “Relevant Activities”;
- Investment Fund Management
- Headquarters Businesses
- Holding Company Businesses
- Intellectual Property
- Distribution and Service Centers Businesses
|Free Zone Authority||Deadline|
|Abu Dhabi Media Zone Authority||30th June|
|Ajman FZ||30th June|
|Dubai Aviation City Corporation||7th June|
|Dubai Development Authority||25th June|
|Dubai Healthcare City||7th June|
|Dubai World Trade Centre||30th June|
|Fujairah Free Zone||15th June|
|Hamriyah Free Zone Authority||30th June|
|International Free Zone Authorities||30th June|
|Ministry of Economy||30th June|
|RAK EZ||30th June|
|RAK ICC||30th June|
|Umm Al Quwain Free Trade Zone||30th June|
All mainland companies must file ESR notification within 30th June.
What HLB HAMT offers?
- Consulting on ESR
- Identify the qualifying entities for ESR compliance
- Identify the qualifying business segments for ESR compliance
- Report and advise on overall ESR readiness by the Entity
- Ongoing ESR compliance
- Secretarial services in connection with ESR record maintenance
- ESR filing with the authorities in the proper /prescribed format
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