Economic Substance Regulation

Dubai, 3rd June, 2020

On June 1st, Yulia Kasiyanova, Senior Associate  at SCHLÜTER GRAF Legal Consultants, presented the Webinar: Economic Substance Regulation.

It was a great and very clarifying webinar that Yulia provided you with an overview of the relevant criteria of the ESR and uncovered the myth and question marks behind the regulations. It was also provide you with a guidance on how to reorganize your company to be compliant. With the introduction of Economic Substance Regulations (“ESR”) all companies incorporated in the UAE would have to assess their business model and operations against the ESR and (re)structure its organizations and structures where required in order to comply with the ESR.

Moreover, she clarifed the Key elements the COVID-19 implications. The impact of COVID-19 will be taken into consideration when determining if economic substance has been demonstrated (e.g. for “directed and managed in the UEA”

The content was:

  1. General Overview
  2. Legal Framework
  3. Scope of Application
  4. Relevant Activity
  5. Economic Substance Test
  6. Notifications and Reports
  7. Sanctions
  8. Practical Guidance

 

     For more information about the Webinar, visit: ECONOMIC SUBSTANCE REGULATION

 

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