UAE ESR Update: Last sprint to deadline [and other updates]
30 June has emerged as the almost-consensus notification deadline date for most UAE registrars and authorities with respect to ESR compliance.
DDA has issued an update stating that the deadline for the ESR filing obligations of its Licensees has been extended to 30 June 2020. All Licensees irrespective of whether they carry out a Relevant Activity must notify the Authority via the online DDA Portal.
Meanwhile, Masdar Freezone Authority issued an update requesting its Licensees to complete the submission of their ESR Notification Forms via the authority’s online portal by 28 June 2020.
ESR took effect on 30 April 2019. There are a number of actions which relevant Licensees must be undertaking to ensure compliance – from clarifying their entity classification, to the structuring of contractual and delegation arrangements, the review and organization of their internal governance, their employment and premises arrangements and the capturing of relevant business information which will be required for the preparation and filing of reporting information to the Regulatory Authority.
The ESR Notification is the first step for Licensees to comply with ESR obligations, and serves as the self-declaration of whether Relevant Activities are performed in the UAE. Failure to complete and submit the Notification may result in penalties.
Below is the updated ESR Tracker with information on all relevant Regulatory Authorities.