ESR compliance services
ESR compliance services
We are Provides Best ESR Notification Filing Services In UAE with the help of a proficient and dedicated team of professionals. We are a leading provider of ESR compliance services in the UAE. We boast of a proficient and dedicated team of
professionals. Our business advisors and analysts have the required expertise to help clients with ESR compliance.
Our expertise lies in conducting the right assessment of your business for ESR applicability. We identify gaps, provide
corrective measures, and help you achieve ESR compliance. We take care of all your needs related to fulfilling the
notification and reporting requirements of ESR.
Whether you are an onshore company, or operating in a free zone, or having offshore operations, we are there to help you with anything related to ESR requirements. The quality of our consulting and advisory services for ESR compliance is unmatched.
You are just a call away to become ESR compliant Why take chances now?
ESR assessment services
Ministerial Decision No. 100 of 2020 mentions the list of Relevant Activities. These apply to all companies registered in mainland UAE or free zones of the country. If licensees in UAE engage in any of these activities, they are required to comply with ESR. These include:
- Banking
- Insurance
- Investment fund management
- Lease-finance
- Headquarter business
- Shipping
- Holding company business
- Intellectual property
- Distribution and service center
What are the relevant activities under ESR in UAE?
Relevant Activities under ESR in UAE are Banking Business, Insurance Business, Investment Fund Management Business, Lease-Finance Business, Headquarters Business (Management decision-making and coordination support), Shipping Business, Holding Company Business, Intellectual Property Businesses, Distribution and Service Centre Business (Inventory management and Administrative support)
We help entities in the assessment of their relevant activity. We ensure an accurate and timely assessment of the nature of their business operations. Based on this evaluation, we come to know whether they are needed to follow the Economic Substance
Regulations or not.
For this, we conduct a primary assessment for finding out the application of ESR on your business. If ESR is applicable, then we check whether you fulfill the Economic Substance criteria or not. If you meet the criteria, then we submit the proofs to the Authorities.
If you do not meet the criteria, we help you to comply with them and hence achieve ESR compliance. Thus, with our ESR services, you can follow the ESR compliance requirements. This assessment allows you to avoid facing penalties from the Authorities.
If you do not meet the criteria, we help you to comply with them and hence achieve ESR compliance. Thus, with our ESR services, you can follow the ESR compliance requirements. This assessment allows you to avoid facing penalties from the Authorities.
ESR Gap analysis and implementation of corrective actions
It is important to analyze the level of compliance of entities with Economic Substance Regulations. This analysis is based on the type of relevant activity that the client operates in. We excel in providing an analysis of such economic substance requirements for our client’s businesses.
We collect and collate such data for our clients, whether big or small operating in any relevant activity industry. We assess the revenues, physical assets, number of employees, and any other relevant data. We also check the organizational structure and the management and control of the client entity.
We identify any possible gaps in this analysis. Based on the collected data and ESR requirements, we discuss with the management. Lastly, we suggest corrective actions that can help our clients achieve ESR compliance.
ESR notification services
We assist all the entities to file their ESR notification every year. For the licensee entities, this will prove their compliance with ESR. For the exempted licensee entities, this proves their status as an Exempted licensee.
What is the time limit to file ESR in UAE?
The entities must provide the notification within six months of the end of the financial year. They must file the ESR report within 12 months of the end of the financial year. As per the law, every licensee and exempted licensee is required to submit the following reports to the Regulatory Authority:
- Annual Notification
- Economic Substance Report
In the annual notification, the entity must submit the following information:
- The primary details such as name, legal form, license number, and office address
- The starting and end date of the financial year
- The details of the relevant activity that they carry out
- Information on whether revenue is generated from the relevant activity in that financial year
- Information on whether the entity is a tax resident in UAE or outside the country
- Any other information instructed by the Regulatory Authority
In the Economic Substance Report, the entity must submit the following information:
By providing all the required details before the deadline date, we ensure your ESR UAE compliance. Accurate and time ESR filing gives a guarantee of efficient and effective business processes. Our experienced team makes sure that the information submitted to the authorities along with supporting declarations is accurate and before deadlines.
Other support services
We keep on providing advice to our clients for constant
compliance with ESR. This advice is based on your business sector, your compliance status, and possible corrective actions for your operations. Our ESR advisory services also include
training for your employees on ESR laws, policies, and best
practices.
Another key requirement under UAE’s Economic Substance
Regulations is the maintenance of records. We provide you full support in maintaining relevant ESR records for six years, as per the stipulated requirements. Our ESR advisors ensure that these records are accurate, not misrepresented, and
contain all relevant information.
Who should file ESR Notification?
Licensees having branches in the UAE carrying out the Relevant Activities should furnish a report on the Relevant Activities of their branches ESR Notification with the Regulatory Authority in which such Head Office is registered.
Licensees undertaking any kind of Relevant Activity must file an ESR notification, irrespective of income earned from such Relevant Activities during the financial period or even a part of financial year.
Get on the exciting journey to your goal of achieving ESR compliance Your journey partner – UAE ESR
Testimonials
I consulted UAE ESR for ESR advice and they helped me with everything related to ESR. Their team of experienced ESR consultants and business advisors turned out to be a big relief for my company. Their end-to-end ESR advisory services ensured that our compliance with ESR is 100%. I would like to recommend their name for excellent ESR advisory services to anyone seeking compliance with ESR.
It is always a pleasure to work with a highly professional company. This is the case with UAE ESR – a team of highly experienced and knowledgeable ESR advisors. Their professionalism, timeliness, and accurate work helped us achieve ESR compliance in no time. They are our guide in most of the matters of operations in the UAE. Thanks a lot, UAE ESR for the 24/7 guidance and help.
UAE ESR gave us a big sense of relief by taking the burden of ESR compliance from our heads. Their impeccable team of ESR consultants supported us fully in ESR reporting and assessment activities. Their team resolved all our queries and concerns regarding ESR compliance. We have a very close working relationship with the team at UAE ESR. If you want professional and timely advice for ESR compliance, I would recommend their name.
