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Key highlights of FAQ on Economic Substance Regulations in UAE
by NEXDIGM and SKP Group
Key highlights of FAQ on Economic Substance Regulations in UAE
by NEXDIGM and SKP Group
Earlier in April 2019, Ministry of Finance of United Arab Emirates (UAE) released Cabinet Resolution No 31 of 2019 (Resolution) on Economic Substance Regulations (ESR or the Regulation). The regulation is a part of UAE’s commitment to the OECD inclusive framework. Our publication summarizing key highlights of the regulations can be found here.
The regulations require UAE onshore and free zone companies and other UAE business forms (collectively referred to as Licensee) that carry out any of the Relevant Activities to maintain an adequate economic presence in the UAE related to the activities.
