What are the exemptions under Economic Substance Regulations (ESR)?

The Regulation exempts certain licensee from filing the ES Report and demonstrate substance in the UAE such as:

• A licensee that is tax resident outside the UAE

• An Investment fund and its underlying SPVs/investment holding entities

• A wholly UAE resident owned business that is not part of a multinational group and that carries out business in the UAE

• A branch of a foreign entity that is subject to tax on all its income in a foreign jurisdiction

For more information on Economic Substance Regulations, visit Economic Substance Regulations page.