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Consultation and Submission of Documents on Economic Substance in the UAE

We offer you professional advice and assistance in preparing and submitting documents for UAE economic substance.

On April 30, 2019, the UAE adopted the Regulations for Economic Substance. The introduction of such rules s has become one of the important stages in the UAE tax policy, as well as a vital step towards compliance with the regulations and requirements of OECD and BEPS.

Economic Substance in the UAE

Under these rules, companies that carry out certain activities (called Relevant Activities) will need to meet specific requirements to pass the Economic Substance Test.

The rules define the following Relevant Activities:

  • banking
  • insurance and reinsurance
  •  fund management
  • leasing financing
  • company headquarters
  • shipping
  • holding companies
  • intellectual property
  • distribution and service centers.

Companies carrying out the activities mentioned above will have to pass the UAE Economic Substance Test, during which the following factors are evaluated:

  1. Where does the company receive the main profit from its activities?
  2. Where is the company managed from?
  3. A number of the company’s skilled workers located in the UAE.
  4. Premises and expenses in the UAE for the company maintenance.

Then, Relevant Activities conducting companies will need to file an ESR Report within 12 months of the end of their respective fiscal year.

We will be happy to provide you with professional consultation and assistance with submitting documents on time.

How to get consultation and assistance with submitting documents on UAE economic substance?

For consultation and assistance with submitting documents, please contact us at [email protected]. Our experts will provide you with professional advice on UAE economic substance.

Consultation cost – from USD 200.

Filing an EST Notification (form completion and submission) – USD 100.

Report cost (prepared jointly with an auditor) – from USD 400.

Payment can be made by bank card or transaction, via WebMoney or Western Union, or using cryptocurrencies.

Which companies are subject to the UAE economic substance rules?

All companies registered in the UAE, including those registered in offshore and free zones, will need to submit notifications. Companies engaged in banking, insurance and reinsurance, fund management, leasing financing, shipping, intellectual property, as well as holding companies, corporate headquarters, distribution and service centers will have to pass the Economic Substance Test and submit an ESR Report.

What does the UAE Economic Substance Test include?

The Economic Substance Test evaluates such factors as: where the company receives the main profit from its activities; where the company is managed from; the number of company’s skilled workers located in the UAE; premises and expenses in the UAE for the company maintenance.

What is the cost of consultation and submission of documents on UAE economic substance?

The consultation cost is from USD 200. The cost of filing a notification (filling out the form and submitting it) is USD 100. The report cost (prepared jointly with the auditor) is from USD 400.

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