Thursday, 18 June 2020 14:19


Following the new ESR (Economic Substance Reporting) regulation, it is mandatory for all companies incorporated before December 31, 2019-  whether in a Free Zone or in the Mainland - to file the Economic Substance Notification, a self-declaration of the relevant activities carried out in the United Arab Emirates. This notification must be submitted to either the relevant Free Zone Authority, or to the UAE Ministry of Economy.

The Economic Substance Notification must be completed by June 30, 2020, although deadlines vary in certain Free Zones. Any licensee that fails to comply with the requirements of the ESR legislation will incur strict fines, as prescribed by the Ministry of Finance.

Our team can guide you through the required actions and guarantee you achieve full compliance.

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