ESR report for the UAE

[Offshore13]

Hi, if I understand correctly there are only a few companies (as below) who have to do the ESR report? Its a bit unclear, I don't trust any accountant I want to be 100% sure as 20k or 50k AED is quite a lot for penalty

• Banking Business
• Insurance Business
• Investment Fund Management Business
• Lease-Finance Business
• Headquarter Business
• Shipping Business
• Holding Company Business
• Intellectual Property Business
• Distribution and Service Centre Business

Just found what I need in form of a video direcly from the UAE governement

 

[Fred]

Hi, if I understand correctly there are only a few companies (as below) who have to do the ESR report? Its a bit unclear, I don't trust any accountant I want to be 100% sure as 20k or 50k AED is quite a lot for penalty

• Banking Business
• Insurance Business
• Investment Fund Management Business
• Lease-Finance Business
• Headquarter Business
• Shipping Business
• Holding Company Business
• Intellectual Property Business
• Distribution and Service Centre Business

Just found what I need in form of a video direcly from the UAE governement

Yes - that's correct.

If you don't have one of these Activities there is no ESR filling requirement - however a lot of Accountants still offering you to "check" if a ESR Filling has to be done.

They earn from people fear / western mentality while not doing anything in practice - avoid.

 

[Offshore13]

Yes - that's correct.

If you don't have one of these Activities there is no ESR filling requirement - however a lot of Accountants still offering you to "check" if a ESR Filling has to be done.

They earn from people fear / western mentality while not doing anything in practice - avoid.

Thanks Fred for your reply!