ESRSubmissionServices

This depends on whether your company carries on a relevant activity, such as banking, insurance, fund management, lease finance, headquarters, shipping, holding company, intellectual property, or distribution and service centre business. If any relevant activity generates income, an ESR notification and, in most cases, a report must be filed each financial year. The specific activities on your licence determine whether this applies to you.

ESR submission work is quoted after reviewing your licence activities, income streams, and prior filing history, since the scope varies between a simple notification and a full report with supporting analysis. We can provide a proposal once we understand your structure. Bookkeeping support, if needed alongside this, starts at AED 599 per month for up to 50 transactions.

ESR notifications and reports are generally due within set periods following the end of the relevant financial year, with the exact dates set by the regulatory authority overseeing your licence. Deadlines can differ by free zone or mainland authority, so it is important to check the specific date issued to your entity rather than assume a single UAE wide date.

Failure to file the required ESR notification or report, or providing inaccurate information, can result in administrative penalties imposed by the relevant regulatory authority. Repeated non compliance may lead to further action, including referral to other authorities. The exact penalty amount is set by regulation and depends on the nature of the failure.

Any entity carrying on a relevant activity, such as those listed under the Economic Substance Regulations, needs to identify its Core Income Generating Activities and demonstrate that these are performed in the UAE with adequate employees, expenditure, and physical presence. Whether this applies to your business turns on the activities stated on your trade licence and the income they generate.

We typically need your trade licence, financial statements, details of income by activity, information on management and board meetings held in the UAE, and evidence of physical presence such as office space and staffing. Vigor Accounting and Taxation reviews these to assess your relevant activities before preparing and filing the notification or report.