We offer the best ESR Advisory services to help the companies remain highly compliant with the needs of the Economic Substance Regulations in UAE. We begin with an in-depth review of the group structure as well as activities, define ESR compliant policies, help in filing and return filing as well as Economic Substance reports. We also offer the best training on Economic Substance policies as well as regulations.
We offer the best ESR Advisory services to help the companies remain highly compliant with the needs of the Economic Substance Regulations in UAE. We begin with an in-depth review of the group structure as well as activities, define ESR compliant policies, help in filing and return filing as well as Economic Substance reports. We also offer the best training on Economic Substance policies as well as regulations.
The key purpose of ESR is to protect the overall reputation of the State and those entities that operate within UAE whether FreeZone, onshore as well as offshore thus confirming that the income generated from the relevant activities has the best economic substance and provides a base to support the fact that the incorporation in UAE was motivated to be benefited from privileged tax regime.
The companies in the following sectors that are registered as well as formed in UAE including Free Zone or in a Financial Free Zone that also carry out the relevant activities:
The economic substance or ESR test is designed on the three crucial pillars that a Licensee/Company should fulfill the criteria as under in order to meet the Economic Substance Test in relation to any relevant activity. These include Core Income Generating Activity (“CIGA”) related to the activities covered up by the ESR should be undertaken in UAE;
The activities of the licensee should be carried out with relevant local “Economic Substance” in regard to the relevant activity level in the UAE. The Economic substance consists of: