Welcome to Pravo Middle East’s UAE Economic Substance Regulations (ESR) Consultancy Services page, your ultimate resource for navigating the complexities of the UAE’s ESR requirements. Our expert team is dedicated to providing comprehensive consultancy services to ensure your business meets all ESR requirements efficiently and effectively.

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What are the Economic Substance Regulations (ESR)?

Understanding ESR

The Economic Substance Regulations (ESR) were introduced in the UAE to ensure that entities undertaking certain activities are carrying out substantial activities in the UAE. These regulations are designed to prevent harmful tax practices and ensure compliance with international standards.

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Relevant Activities Under ESR

• Banking Business
• Insurance Business
• Investment Fund Management
• Lease-Finance Business
• Headquarters Business
• Shipping Business
• Holding Company Business
• Intellectual Property Business
• Distribution and Service Center Business

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Comprehensive ESR Consultancy Services

Our team at Pravo Middle East offers a full range of services to help you navigate ESR requirements:

ESR Consultation

Receive expert advice on how ESR applies to your business and ensure compliance with all relevant regulations.

Preparation and Submission of Notifications

We assist with the preparation and timely submission of ESR notifications to avoid any penalties.

Preparation and Submission of ESR Reports

Get detailed guidance on compiling and submitting the annual ESR report, ensuring accuracy and compliance.

Regulatory Liaison

Our team will represent and communicate with regulatory authorities on your behalf, streamlining the process and addressing any issues that may arise.

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Who Needs to Submit an ESR Notification and Report?

Any company engaged in the relevant activities specified by ESR must submit annual notifications and reports to ensure compliance and avoid penalties.

Deadlines for Submission

• Notification: Within 6 months from the end of the financial year.
• Report: Within 12 months from the end of the financial year.

Penalties for Non-Compliance

Failing to submit the notification results in a penalty of AED 20,000, and failing to submit the report results in a penalty of AED 50,000. Ensure timely submission to avoid these substantial fines.

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Information Required in the ESR Report

The ESR report must include comprehensive details on income, expenses, assets, and the nature of activities conducted to demonstrate substantial economic activities within the UAE.

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Why Choose Pravo Middle East for ESR Consultancy?

• Expertise: Our team has extensive experience and in-depth knowledge of UAE ESR requirements.
• Tailored Solutions: We provide customized solutions to meet your specific business needs.
• Efficient Processes: Our streamlined processes ensure timely and accurate submission of notifications and reports.
• Reliable Support: Our dedicated team is always available to answer your questions and provide ongoing support.

Start Your ESR Compliance Journey Today

Ensure your business complies with the UAE’s Economic Substance Regulations by partnering with Pravo Middle East. Trust our experienced team to handle every aspect of the ESR requirements with professionalism and efficiency. Contact us today to begin your ESR compliance journey and avoid any penalties.

For more information on our UAE Economic Substance Regulations consultancy services or to schedule a consultation, please reach out to us. We look forward to assisting you with your ESR needs and helping your business achieve its goals in the UAE.

 

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