How to submit ESR Notification in the UAE

By requiring openness, this policy discourages unethical business activities such as using shell corporations. Filing an annual notification is an essential first step for entities that may be involved in ESR-relevant activity. This starts the ESR compliance procedure and notifies the appropriate authorities about your conduct related to your business activity. This article will help you understand how to submit your annual ESR notification to the relevant authorities in the UAE to substantiate your commercial activities in the UAE. Economic Substance Regulations UAE is a company in the UAE that can help you in filing your annual ESR notifications filing in the UAE.

ESR filing in Dubai is to be done by which companies in the UAE

The companies in the UAE who are involved in substantial economic activities are required to file for ESR. Foreign company branches, onshore and free zone companies, and a few more business structures operating in the UAE are all subject to ESR regulations. But the main thing that counts is if your organization engages in any of the following pertinent activities:

• Banking business: This includes loaning money, taking deposits, and offering financial assurances.
• Offering insurance goods such as health, life, and property insurance is known as the insurance business.
• Investment Fund Management Business: Providing clients with discretionary and non-discretionary fund management services.
• Leasing-Finance Enterprise: Financing made possible by leasing.
• Headquarter Business: Organizations that use the United Arab Emirates as a focal point for group management and strategic decision-making.
• The shipping business include the ownership, operation, management, chartering, and bareboat chartering of vessels used for the transportation of cargo or people.
• Businesses whose main objective is to hold shares or interests in other businesses are known as holding firms.
• Creating, licensing, or selling intellectual property, such as patents, trademarks, or copyrights, is known as the intellectual property (IP) business. An IP business is considered significant under ESR if certain requirements are met:

1. Development and Research (D&R): If IP’s primary source of revenue generation is research and development (e.g., developing a patented invention).
2. Marketing and Branding: In situations were selling intangible assets—such as trademarks—is the main source of revenue.
3. Making Strategic Decisions and Managing Risks: In extraordinary circumstances where the primary sources of revenue are intellectual property development and exploitation, strategic decision-making, business management, and risk management are involved.

• Providing logistical support for the distribution or servicing of goods and products in the United Arab Emirates is the business of distribution and service centers.

Now let us understand the procedure of ESR filing in the UAE

The steps involved in submitting an ESR notification in the United Arab Emirates are as follows:

• Determine Relevant Activities: Go through the previously indicated list of pertinent activities carefully. You are required to submit an ESR notification if your business participates in any of these activities.

• assemble information Put together the data that is required for the notification procedure. Usually, this contains information like:

Name of the Company and Registration Number Contact Details (Phone and Email)

• List of Relevant Activities Completed on the Dates of the Financial Year
• Select the Method of Filing: As of right now, the UAE provides ESR notifications through two main channels:

Ministry of Finance (MoF) Portal: In particular, for ESR purposes, the MoF has created the online address at https://mof. gov. ae/economic-substance-regulations/. This is for the reason that it makes the approach smooth and easy to use and thus it should be adopted.

• Email Notification: In the event that organizations are having trouble with the web portal, they can send the notice to moeesr@economy.ae by email. That being said, email submission is generally discouraged because it may be slower and less secure than using the web portal.
• Fill out the notification form and send it in:
• Online site: Register your business and fill out the electronic notification form with the data you have collected when you have accessed the MoF site. The portal provides direction and directions all along the way.
• Email Submission: If you want to submit an email, make sure it has all the information required and is delivered to the specified address, moeesr@economy.ae.
• Confirmation and Record-Keeping: Following a successful submission, a confirmation of receipt should be sent via the preferred filing method (email or online portal). For future reference, a copy of the submitted notification and confirmation must be kept on file.

If you still face issues in filing the ESR notification in the UAE, help can be availed from Economic Substance Regulations UAE professionals.

The deadline for ESR filing in the UAE

The normal timeframe for submitting an ESR notification is twelve months after the conclusion of the associated fiscal year. For example, the notification date would be December 31^st of the following year if your company’s financial year ends on December 31st.

How prompt filing of ESR in the UAE can help you when you take help from the Economic Substance Regulations UAE

There may be fines and possible reputational harm if an ESR notification is not submitted by the time. The Economic Substance Regulations UAE has a team of professionals who will help you in filing your business’s ESR notifications in the UAE in time. Therefore, get in touch with us today and get your ESR filed in time and stay compliant to the rules set by the ministry.

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