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Understanding Economic Substance Regulation (ESR)
Jun 8, 2020
04:00 PM - 05:00 PM (Asia/Dubai)

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The UAE Economic Substance Regulations (ESR) are now in force from January 1, 2020. The regulations apply to UAE onshore and free zone companies, branches, partnerships, and other UAE business forms (referred to as "Licensees"). Relevant entities within the Scope of Regulations are required to prepare and submit economic substance declarations to the regulatory authority.

Failure to comply with ESR could result in stringent penalties including potential suspension/revocation of commercial license. ESR applicability is not easily determinable by a simple review of trade license. Law requires a ‘substance over form’ approach to determine the applicability of ESR.

All companies are required to review whether ESR is applicable to them and accordingly submit a declaration.

The key takeaways of the session will be as follows:

  • Understanding ESR
  • Common Activities Under ESR
  • Compliance Timelines and Penalties
  • Action Points for Self-Review by Companies

The session will be conducted as a workshop format with interactive Q&A at the end.

Organiser : TiE Dubai

TiE Dubai

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Understanding Economic Substance Regulation (ESR)

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