Preventing liquidation of an unbalanced market will leave you in tears.
Your business is just yours. You choose it. You make it happen! You live it. Therefore, it’s your responsibility to abide by the guidelines and laws issued by Government bodies and meet the requirements set by various authorities of the country your business exists in to successfully run the operations. There are tons of them. After setting up business in Dubai or any of the emirates of the UAE, all the entities are required to maintain a fair “economic presence” in the nation applicable to the activities they engage in, according to the economic substance regulations (the “Regulations”) put out by the UAE in 2019.
Economic Substance Regulations Reporting Services in Dubai, UAE
According to the regulations, the UAE-based free zone, and financial free zone companies in that carry out the relevant functions mentioned in the guidance are bound to present satisfactory economic presence by meeting the UAE economic substance test. The companies are required to notify and submit an annual UAE economic substance report to the regulatory authorities if they are meeting the criteria to avoid hefty penalties. A caveat: The regulation is new, and we have seen many companies failing to comply with the standards and providing inaccurate or incomplete information, leading to heavy penalties. Luckily, you can delegate the complicated task to an experienced and best UAE-based Economic Substance Advisory firm. The expert assistance from Economic Substance Regulations Reporting service professionals not only keeps you from committing such grave mistakes but also ensures Economic Substance compliance.
Pass the Buck to Adam Global
With members situated across 200+ jurisdictions covering unique practice areas, Adam Global is one of the leading business setup consulting firms in Dubai, UAE that can take care of all the complex requirements of the businesses in connection with the Economic Substance Reporting in Dubai, UAE. Our highly qualified advisors can help the companies know whether they are subject to the regulations. If they do, then we assess the operation of the companies across all the emirates (onshore/free zones) to figure out if the current activities are expected to fulfill the requirements of the UAE Economic Substance Reporting. We can advise companies with effective solutions to adhere to the regulations. You can count on our pro team of Economic Substance Regulations Reporting specialists in Dubai for all your ESR requirements, from assessing your eligibility for ESR to preparing the notification and the report to be submitted to the concerned Regulatory Authority.
Let’s Make Things Happen
Are you looking for an expert opinion on your company’s financial health?
Our team of auditing and accounting specialists can provide you with a thorough and comprehensive assessment. They will review your financial records, identify areas for improvement, and provide you with a personalized action plan to optimize your financial performance.
To get your personalized consultation, simply click the “Get a callback” button and schedule a call with one of our specialists.
Let us help you take control of your finances today.