ESR Dubai UAE
Economic Substance Notification DAFZA Due Date: The due date for Economic Substance Notification is declared by the authority of the Dubai Airport Free Zone (DAFZA) being one of the Regulatory Authorities in the UAE. It published the due date to file the Economic Substance Notification for all companies registered under it. As per the circular issued by Dubai Airport Free Zone Authority (DAFZA), all the licensees in the DAFZA have to file the Economic Substance Notification on or before 31 May 2020.
On 30 April 2019, the UAE Cabinet issued the Cabinet of Ministers Resolution No.31 of 2019 (concerning economic substance regulations in the UAE, “the Regulations”), requiring all in-scope UAE entities (“Relevant Entities”) that carry on certain activities (“Relevant Activities”) to have demonstrable economic substance in the UAE from 30 April 2019. The Regulations apply to all UAE onshore and free zone companies that carry on a “Relevant Activity”.
Irrespective of whether your trade license activities relate to ‘Relevant Activity” as per the Regulatory Authority you have to submit the Economic Substance Notification on or before the date prescribed by the Relevant Authority in the prescribed format and mode.