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

Last edited: Jun 22, 2023

 

[Fred]

Offshore13 said:
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
Click to expand...

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.

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[Offshore13]

Fred said:
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.
Click to expand...

Thanks Fred for your reply!

 

[Carlsand]

Hello, I would like to ask something about ESR. My company in EAU is project management consultany. Do I have to fill the ESR? I am new on it and I dont trust any accoutant. I use to invoice to dutch companies. I am just a selfemployed worker.
Thanks a lot for your answer.

 

[Offshore13]

Carlsand said:
Hello, I would like to ask something about ESR. My company in EAU is project management consultany. Do I have to fill the ESR? I am new on it and I dont trust any accoutant. I use to invoice to dutch companies. I am just a selfemployed worker.
Thanks a lot for your answer
Click to expand...

According to the list above there is no need for you to file ESR. If you have an account, which I highly recommend for your accountancy and Tax Law in UAE, you can ask him if you need or not, usually my accountant is giving me a reply very fast.

 

[JohnLocke]

Do you know what the costs are to file a ESR report with an accountant?

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[Offshore13]

From 1000 AED

 

[Carlsand]

Offshore13 said:
According to the list above there is no need for you to file ESR. If you have an account, which I highly recommend for your accountancy and Tax Law in UAE, you can ask him if you need or not, usually my accountant is giving me a reply very fast.
Click to expand...

Hello Offshore 13. Thanks for your answer. Do you think still I need an account if I don't earn over 100.000 e? I have been told by the company that help me to create my company, I don't need it, but I have the feeling, since I pay them for the process of creating my company, they are not so happy to advise me.
Thanks again for your help.

 

[Offshore13]

You still need to declare how much you make and this means you need to apply for VAT and get a corporate Tax number.
I have paid 10k fine for trying to do this on my own, so my advise is to check with an accountant.

 

[Carlsand]

Offshore13 said:
You still need to declare how much you make and this means you need to apply for VAT and get a corporate Tax number.
I have paid 10k fine for trying to do this on my own, so my advise is to check with an accountant.
Click to expand...

Thanks for your answer. Definitely I will do it.

 

[JohnLocke]

Offshore13 said:
From 1000 AED
Click to expand...

for that amount I would not consider not to do it.

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