ESR Package
The UAE implemented Economic Substance Regulations (ESR) in 2019 to comply with international best practices in corporate governance and taxation. ESR ensures that businesses operate with sufficient economic activities in the UAE. Non-compliance can result in fines and negatively impact business activities.
Services Include the Following:
- ESR Compliance
Economic Substance Regulations apply to companies in the UAE involved in sectors such as banking, insurance, or intellectual property. These businesses must prove that they have adequate economic substance in the UAE.
How We Help You Comply with ESR:
- Initial Assessment
We begin by evaluating whether your business falls under the scope of ESR regulations. Additionally, we determine the level of economic substance your business needs to demonstrate. - Filing ESR Notifications
We assist in preparing and filing ESR notifications and annual reports accurately and on time. - Substance Requirements
We advise on the necessary substance requirements, including the employment of sufficient staff, office space, and control over expenses related to your business operations in the UAE. - Monitoring ESR Compliance
We provide continuous monitoring to ensure that your business remains within the legal limits of ESR regulations.
ESR Penalties and Avoidance:
Non-compliance with ESR can result in heavy fines and damage to your business’s reputation. We ensure that businesses maintain 100% compliance with the UAE’s ESR regulations, helping them avoid such penalties.
