As a member of the OECD Inclusive Framework, the UAE has implemented Economic Substance Regulations (ESR) to ensure that companies operating within the country demonstrate a genuine economic presence. The goal of these regulations is to combat tax avoidance practices and promote transparency in business operations. The ESR requires companies to meet certain substance requirements, including having an adequate number of qualified employees, physical office space, and operational expenses commensurate with their business activities. The implementation of ESR is a step towards ensuring a level playing field for businesses operating in the UAE also promoting the country's reputation as a transparent and reliable business hub.
Who Needs to Comply with ESR?
ESR applies to UAE onshore and free zone companies carrying out any of the following "Relevant Activities":
- Banking
- Insurance
- Leasing
- Investment Management
- Shipping
- Headquarters Activities
- Holding Companies
Our team of experts can guide you through every step of ESR compliance
ESR applies to UAE onshore and free zone companies carrying out any of the following "Relevant Activities"
Benefits of Partnering with Us
- Reduced Risk: Minimize the risk of penalties for non-compliance with ESR.
- Improved Efficiency: Streamline your ESR compliance process and save valuable time.
- Expert Guidance: Benefit from the knowledge and experience of our ESR specialists.
Ensuring ESR Compliance with Confidence
Let Bespoke Strategy Solutions be your trusted partner in navigating ESR requirements. Contact us today to discuss your specific needs and achieve ESR compliance with ease.
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