A Licensee is regarded as carrying on a Headquarters Business if the Licensee provides services to foreign group companies, and through the provision of such services: The Licensee takes on…
Economic Substance Regulations(ESR) – Lease-Finance Business
The definition of a Lease-Finance Business encompasses Licensees that offer credit or financing for any kind of consideration, and includes intra-group financing. Offering credit or financing includes making loans to…
Economic Substance Regulations (ESR) – Investment Fund Management Business
The definition of an Investment Fund Management Business encompasses Licensees that provide discretionary investment management services in relation to domestic or foreign “Investment Funds”. Discretionary Investment Fund Management services include…
Economic Substance Regulations (ESR) – Insurance Business
Insurance Business means the business of accepting risks by effecting or carrying out contracts of insurance, in both the life and non-life sectors, including contracts of reinsurance and captive insurance…
Activities under Economic Substance Regulations (ESR)
Today we will discuss about how under Economic Substance Regulations (ESR), the Regulations apply to companies and other business forms registered in the UAE, including in a Free Zone or…
Cybercrime – Are you immune to data breach?
A lot of businesses manage almost all of their transactions through digital platforms and considering the sheer volume of data exchanged every minute, Data Security should be the top…
Cloud Accounting – A Big Move in Accounting
In the current scenario of digitization and flexibility to work on multiple devices, demand for a centralized and secure data storage system is on the rise. Traditional usage of the…
Clarifications related to ESR notification by RAKEZ
Following are the clarifications provided by RAKEZ for all common questions related to Economic Substance Regulations (ESR) return submission Question : Should the ESR return be submitted by All…
ECONOMIC SUBSTANCE REQUIREMENT NOTIFICATION
A guiding line for Financial Control Audit
What is Financial Control Audit? Financial Control Audit’s prima facie activities are to audit and control, recording, accounting and reporting of day-to-day financial transactions of any organization. This process also…
Cost Optimization strategies
Cost saving techniques during times of crisis The world is facing humanitarian and economic crisis due to the onset of corona. Although we have measures to contain the spread of…
Importance of due diligence and roles of an auditor
What is due diligence? Due diligence is a procedure that includes investigation, audit, review of a potential investment or product before signing an agreement or a proposed transaction with the…