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The abolishment of the UAE Economic Substance Regulations has been published in the Official Gazette on 16 September 2024 from financial year 2023. The Cabinet
Annual Compliance and Key Actions The Economic Substance Regulations (ESR) apply to all United Arab Emirates (UAE) onshore and free zone legal entities. It carries
The Ministry of Finance has therefore extended the deadline for submissions: please see the notice below. To support businesses that may have been impacted by COVID-19
Background On 10 August 2020, the UAE Cabinet of Ministers issued Cabinet Resolution No. 57 of 2020 (the “amended ES Regulations”) which replaces the original
Under the enactment of two pieces of legislation affecting Mainland and Free Zone entities registered in the UAE: All entities were required to submit an
Background The UAE Ministry of Economy has enacted Cabinet Resolution No. (58) of 2020 regulating Beneficial Owner (UBO) Procedures (the “Resolution”) coming into effect on
Background On 10 August 2020, the UAE Cabinet of Ministers issued Cabinet Resolution No. 57 of 2020 (the “amended ESR”) which replaces the original Economic
As a UAE registered entity, you will be affected by the Economic Substance Regulations. The first stage of the implementation will be to submit your
Overview As of 30th April 2019, The UAE Cabinet introduced economic substance (“ES”) rules. Further guidance (Ministerial Decision No 215 For The Year 2019 On
Getting ready for the UAE Economic Substance Regulations The United Arab Emirates (UAE) Government has taken a progressive step in its commitment to comply with
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