11 May

REQUIREMENT FOR ALL UAE LICENSED ENTITIES

On 30 April 2019, the UAE introduced Economic Substance Regulations (ESR) under the Cabinet of Ministers Resolution No.31 of 2019.

The Regulations require ALL UAE licensed entities to comply with notification and return filing obligations and those that carry out any of the ‘Relevant Activities’ to maintain an adequate ‘economic presence’ in the UAE. A list of ‘Relevant Activities’ can be found in the RAKEZ ESR Guidance HERE.
 
All UAE licensed entities are required to submit an annual notification (regardless of being exempt or not earning income), i.e. the ‘ESR Submission’. Please submit your notification by clicking HERE. ESR Submission must be filed no later than the 30th of June 2020.
 
UAE licensed entities that are not exempt and undertake a Relevant Activity from which they earn income during a relevant Financial Year, will be further required to:

  1. Meet economic substance requirements.
  2. File an Economic Substance Regulations Return ‘ESR Return’.
For all ESR enquiries please email rakezesr@rakez.com.

MORE ANNOUNCEMENTS

  • 27 May 2020

    FAQ ON ECONOMIC SUBSTANCE REGULATIONS (ESR) RETURN SUBMISSION

    In reference to our previous email regarding the submission of Economic Substance Regulations (ESR) return, we have compiled the below Frequently Asked Questions (FAQ) to help you gain a better understanding about this new requirement.

    Q: SHOULD THE ESR RETURN BE SUBMITTED BY ...


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  • 21 May 2020

    WE ARE HERE TO SERVE YOU DURING EID HOLIDAYS

    We would like to wish you a joyous and blessed Eid Al Fitr at home.
     
    We are happy to inform you that we will continue to serve you throughout the Eid holidays. You can still send in your service requests through our online RAKEZ Portal 360 platform. For urgent matters, you can co...


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  • 21 May 2020

    STAFF REPATRIATION FLIGHTS


    Please be informed that the UAE government is arranging repatriation flights to various destinations. This is dedicated for individuals whose employment has been affected by the COVID-19 and need to return to their home countries.

    RAKEZ is working with RAK Police in gathering ...


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Last Updated on 12/29/2019 9:23:05 PM

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