To whom Economic Substance (ES) is applicable;

  • Economic Substance is Applicable to all Licensee in UAE carrying on the Relevant Activities anywhere in the
    United Arab Emirates other than the companies with 51% government shareholding.

Relevant Activities for Economic Substance

  • Banking Business
  • Insurance Business
  • Investment Fund Management Business
  • Lease-Finance Business
  • Shipping Business
  • Headquarters Business
  • Intellectual Property Business
  • Holding Company Business
  • Distribution & Service Centre Business

 

How ”Middle East Auditing” will help you on Economic Substance Reporting

  • To check the aplicability of the law on your business/company.
  • Assessment, will apply Economic Substance tests for the applicable Criteria.
  • Identification of non compliance factors if criteria of laws are not met.
  • Suggestion to improve the compliance for Economic Substance.
  • Reporting to the relevant authority as per Economic substance requirements.

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