UAE ESR Update: ESR Notification Deadline Tracker [4.0]

June 17, 2020M/HQ Publications

JAFZA and the MoE have issued guidelines and announced for Licensees to comply with their Economic Substance Regulation (“ESR“) filing obligations. JAFZA and DED Licensees undertaking a Relevant Activity are expected to comply with their ESR filing obligation and notify their respective Authorities by 30th June 2020.

ESR took effect on 30 April 2019. 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 their internal governance, their 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 ESR Notification is the first step for Licensees to comply with ESR obligations, and serves as the self-declaration of whether Relevant Activities are performed in the UAE. Failure to complete and submit the Notification may result in penalties.

Below is the updated ESR tracker with the information obtained from each Authority.

Authority Applies to who? Mode of submission Notification Deadline
Abu Dhabi Global Market (ADGM) Only the Licensees who undertake a Relevant Activity ESR Notification form to be filled in and signed by the Licensee. Email the 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 30 June 2020
Dubai Multi Commodities Center (DMCC) 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 ESR Notification form to be filled in and signed by the Licensee. Email the form to economic.substance@dacc.ae 7 June 2020
Dubai Airport Freezone Authority (DAFZA) Only the Licensees who undertake a Relevant Activity All Licensees have received an email from DAFZA with the steps to be taken/method of filing 31 May 2020
Dubai World Trade Centre Freezone (DWTC FZ) Only the Licensees who undertake a Relevant Activity All Licensees have received an email from DWTC FZ with the steps to be taken/method of filing 30 June 2020
Dubai Development Authority (DDA) Only the Licensees who 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
Dubai Health Care City (DHCC) Only the Licensees who undertake a Relevant Activity Details to be uploaded on the DHCC portal 15 June 2020
Department of Economic Development (DED) – Dubai Only the Licensees who undertake a Relevant Activity ESR Notification form to be filled in and submitted by the Licensee here 30 June 2020
Jebel Ali Freezone Authority (JAFZA) Only the Licensees who undertake a Relevant Activity The ESR Notification can be submitted through the email Jafza.Lease-License@Jafza.ae 30 June 2020
Sharjah International Airport Freezone (SAIF) Only the Licensees who undertake a Relevant Activity All Licensees have received an email from SAIF with the steps to be taken/method of filing 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 All Licensees ESR Notification form to be filled in and signed by the Licensee. Email form to freezone@emirates.net.ae 15 June 2020
Ajman Freezone All Licensees All Licensees have received an email from the Freezone with the steps to be taken/method of filing 30 June 2020

 

 

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