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COMPLIANCE WITH ECONOMIC SUBSTANCE REGULATIONS

UAE introduced a Resolution on the Economic Substance (Cabinet of Ministers Resolution No.31 of 2019, the “Regulations”) on 30 April 2019.  The Regulations require UAE onshore and free zone companies and other UAE business forms that carry out any of the “Relevant Activities” listed below to maintain an adequate “economic presence” in the UAE relative to the activities they undertake. Relevant Activities: Banking Business Insurance Business Investment Fund management Business Lease – Finance Business Headquarters Business Shipping Business Holding Company Business  Intellectual property Business (“IP”) Distribution and Service Centre Business If the business meets the following conditions in the UAE … Continue reading COMPLIANCE WITH ECONOMIC SUBSTANCE REGULATIONS