Economic Substance Regulations

UAE implemented ESR Regulations in 2019.

The ESR Regulations are issued following the global standard set by the Organisation for Economic Co-operation and Development (“OECD”) Forum on Harmful Tax Practices.

As per the Cabinet Resolution 57 of 2020, businesses that carry out “Relevant Activities” are required to maintain and demonstrate economic substance by undertaking the Core Income Generating Activities (CIGA) in relation to its Relevant Activity (or Relevant Activities) in the UAE.

The relevant activities are:

  1. Distribution and Service Centre Business
  2.   Lease – Finance Business
  3. Headquarters Business
  4. Shipping Business
  5. Holding Company Business
  6. Intellectual Property Business
  7. Investment Fund Management Business
  8. Banking Business
  9. Insurance Business

For more information on Economic Substance Regulations, kindly click through to our blog.

Our team of qualified professionals are equipped to provide all the following services related to Economic Substance Regulations:

– Economic Substance Regulations Applicability

– Economic Substance Consultancy

– Economic Substance Assessment

– Filing of Economic Substance Regulations Notification and Economic Substance Regulations Report

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