Economic Substance Regulations DIFC
Jay Krishan, Partner
Phone:- +971 4 327 7775
Mobile:- +971 50 677 5860
WhatsApp:- +971 56 219 1607
DIFC has extended the deadline to submit Economic Substance Regulations(ESR) notification from 12th June to 30th June.
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 DIFC will be applicable to onshore and free zone 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
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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