Economic Substance Regulations (ESR)

Economic Substance Regulations (ESR) Services in the UAE
Ensuring Compliance with UAE Economic Substance Regulations

In the UAE, businesses engaged in certain activities must comply with the Economic Substance Regulations (ESR) to ensure that they have substantial operations in the country. At Simple Step Accounting and Bookkeeping, we specialize in helping businesses navigate the complexities of the ESR and ensure full compliance with the regulations set forth by the UAE Ministry of Finance and the Federal Tax Authority (FTA).

Our team of experts provides tailored solutions to help your company understand whether the ESR applies to your business and, if so, how to meet the necessary requirements. Non-compliance with the ESR can result in significant penalties, so it’s crucial to ensure your business operations meet the required standards.

Our Economic Substance Regulations (ESR) Services include:

ESR Compliance Assessment – Determine if your business activities are subject to ESR.
Document Preparation and Filing – Assist with the submission of the ESR notification to the FTA and ensure that all required documents are accurately prepared and submitted.
Economic Substance Test – Help establish if your company meets the economic substance requirements in the UAE, including physical presence and business activity relevance.
Operational and Financial Reporting – Ensure that your business maintains proper records and is in compliance with operational substance tests, such as staffing levels, office facilities, and financial management.
Annual Reporting and Renewals – Ongoing support with annual ESR reports to the FTA to ensure continued compliance.
Advisory and Guidance – Provide strategic advice to help your business structure its operations in a way that meets the ESR criteria and avoids penalties.
Support for Exempt Activities – Identify activities exempt from ESR (e.g., holding entities) and ensure proper documentation to avoid unnecessary filings.

The UAE ESR applies to business activities such as banking, insurance, investment fund management, intellectual property, and others specified in the regulations. Our team is well-versed in the specifics of the ESR and can guide you through each step, ensuring your operations align with the requirements and avoid penalties.

Let Simple Step Accounting and Bookkeeping be your trusted partner in navigating the UAE’s Economic Substance Regulations. Contact us today for a consultation and ensure that your business remains compliant — without the stress.