DDA has issued a notification template to be followed by all member firms who carry out a Relevant Activity to comply with their Economic Substance Regulation (“ESR“) filing obligations. As expected, the notification will be electronic, via the free zone’s member company portal.
DDA has urged all its relevant Licensees to ensure that they look beyond the activity stated on the Licensee’s company license to fully understand the activity being undertaken. There are a number of actions which relevant Licensees must be undertaking to ensure compliance – from clarifying their entity classification, to the structuring of contractual and delegation arrangements, the review and organization of internal governance, employment and premises arrangements and the capturing of relevant business information which will be required for the preparation and filing of reporting information to the Regulatory Authority.
The Notification is the first step for member companies to comply with ESR obligations, and serves as the self-declaration if Relevant Activities are being undertaken within the UAE. The regulations apply to financial years commencing on or from 1 January 2019 and submitted by no later than 25 June 2020. Failure to complete and submit the Notification may result in penalties.
| Authority |
Applies to who? |
Mode of Submission |
Notification Date |
| Abu Dhabi Global Market (ADGM) |
Only if they undertake a Relevant Activity
Only Licensees incorporated prior to 30 April 2019 will have to submit the Notification by 30 June 2020 |
ESR Notification form to be filled in and signed by the Licensee. Email form to
economicsubstance@adgm.com |
30 June 2020 |
| Dubai International Financial Center (DIFC) |
All Licensees |
ESR Notification form to be filled in and signed by the Licensee. Details to be uploaded on the DIFC portal. |
12 June 2020 |
| Dubai Multi Commodities Center (DMCC) |
All Licensees
All Licensees incorporated on or prior to 31 December 2019 |
ESR Notification form to be filled in and signed by the Licensee. Details to be uploaded on the DMCC portal. |
30 June 2020 |
| Dubai Aviation City Corporation (DACC) |
All Licensees
DACC Licensees that undertakes a Relevant Activity during the financial year ending on the 31st of December 2019, must also submit a Report by the 31st of December 2020 |
ESR Notification form to be filled in and signed by the Licensee. Email form to economicsubstance@dacc.ae |
7 June 2020 |
| Dubai Airport Freezone Authority (DAFZA) |
Only if they undertake a Relevant Activity |
TBA |
3 May 2020 |
| Dubai World Trade Centre Freezone (DWTC FZ) |
Only if they undertake a Relevant Activity |
TBA |
30 June 2020 |
| Dubai Development Authority (DDA) |
Only if they undertake a Relevant Activity |
ESR Notification form to be filled in and signed by the Licensee. Details to be uploaded on the DDA portal |
25 June 2020 |
| Sharjah International Airport Freezone (SAIF) |
Only if they undertake a Relevant Activity |
TBA |
30 June 2020 |
| Ras Al Khaimah International Corporate Centre (RAKICC) |
All Licensees – to be done via the Registered Agent |
ESR Notification form to be filled in and signed by the Licensee. Details to be uploaded on the RAK ICC portal |
30 June 2020 |
| Ras Al Khaimah Economic Zone (RAKEZ) |
All Licensees |
ESR Notification form to be filled in and signed by the Licensee. Details to be uploaded on the RAKEZ portal |
30 June 2020 |
| Fujairah Freezone (FFZA) |
Official Circular not issued |
TBA |
As soon as possible |
| Ajman Freezone (AFZ) |
All Licensees |
TBA |
30 June 2020 |
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