What are the rules for UBO for listed companies?
The companies listed on stock exchange or companies that are owned by listed companies should rely on the disclosures they […]
What is an Ultimate Beneficial Owner?
A person or party that owns or controls more than 25% of a company’s shares and/or voting rights. It is […]
Is your Company maintaining the required UBO Registers?
UAE companies were in a rush to submit the details of the Real Beneficiary (UBO) to the Licensing authorities […]
Natural persons, Sole proprietorships, Trusts and Foundations – ESR
Natural persons, Sole proprietorships, Trusts and Foundations are not covered under the definition of a Licensee for Economic Substance. For […]
Absence of income from relevant activities – ESR
A Licensee is not required to demonstrate economic substance in the absence of income from relevant activities File your Notification […]
Offshore companies – ESR
Offshore companies carrying on relevant activities as per Economic Substance Regulations (ESR) including Holding Company business are required to submit […]
Multiple Local Branches – ESR
Licensees having multiple local branches with relevant activity are now required to submit a consolidated Notification and Report. File your […]
Lease-finance Business – ESR
A Licensee engaged in or a part of cash-pooling arrangements is covered under Lease-finance Business Relevant Activity File your Notification […]
Service Centre Business – ESR
Licensees engaged in the business of cost-recharges and/ or reimbursements with or without mark-ups to Foreign Connected Persons are covered […]
Distribution Centre Business – ESR
Licensees purchasing from foreign connected persons and engaged in high-sea sales, Third port Shipment, drop-shipments, bill to ship to transactions, […]