About UAE ESR
About UAE ESR - Best ESR Service Provider
UAE ESR is a top-notch provider of UAE compliance services. Based in UAE, we help entities in complying with the Economic Substance Regulations. We provide full support in filing and submitting the Annual Notification and Economic Substance Report.
Our approach to achieving ESR compliance for your business is unique, professional, and results-driven. We handle every client based on a long-term relationship of trust and commitment. We boast of a range of ESR compliance services. But, we also promise quality, accuracy, and timeliness in our services that attracts clients to our services.
Let’s get on with the ride of ESR compliance without any hassles for your business
Why UAE ESR?
What makes us the best ESR service provider
We boast of an expert team
We remain up to date with regulations and guidelines
We are committed to client satisfaction
We facilitate the submission of an accurate Annual Notification and Economic Substance Report on time. This is because we promise to helping you achieve your goal.
We adopt a consulting role for generating business value
We ensure risk management for your business
Get in touch for an accurate, faster, and smoother process
ESR: Frequently Asked Questions
• A public or private shareholding company
• A limited liability company
• A partnership
• A joint venture company
But, the following categories are not considered as a licensee:
• A natural person
• A trust
• A sole proprietorship
• A foundation
• When they fail to submit the Annual Notification
• When they fail to submit the Economic Substance Report
• When they provide incomplete or inaccurate information in any of the submitted reports
• When they fail to prove enough economic substance for the specific financial year in the country
In all of the above cases, the relevant authorities in UAE impose fines on entities.
In the case of inaccurate or incomplete information, the fine amount is AED50,000.0 for both notification and report. In the case of delay in submission, the penalty amount is AED20,000.0 and AED50,000.0 respectively for ESR Notification and ESR Reporting. In the case of failure to submit, the entities are penalized with an administrative penalty of AED20,000.0.
• A Licensee that is not a tax resident in UAE
• A branch of a foreign entity that is subject to tax outside the UAE
• An entity owned by Emiratis or UAE residents, which is not part of a multinational group, but only carries on business in the UAE
• An investment fund and its underlying SPVs / investment holding entities
Economic Substance Regulations have been issued in response to the European Union’s list of non-cooperative jurisdictions for tax purposes, in which the UAE has been enlisted. The regulation’s purpose is to promote tax transparency in the UAE.
Also, the ESR in UAE would help in preventing multinational corporations from obtaining tax advantages by artificially shifting profits to UAE (as so far, no corporate tax has been there, and tax to be proposed to be introduced is also at the lower rate), without actually having substantial business activities in the UAE.
Our strategic advisors are certified ESR assessment professionals with expertise in this field. They ensure to make your ESR compliance an easy and smooth process.