June 11, 2020
A major impact of the new Economic Substance Regulations (ESR) is that many international jurisdictions are finding it difficult to provide the infrastructure to help companies maintain an adequate economic presence, and therefore meet these regulations.
When many jurisdictions would struggle to meet ESR, the UAE has an abundant ecosystem of professionals, experts, officials, and resources to meet the Economic Substance Requirements.
In addition, many are being regarded as non-cooperative for tax purposes by the OECD (blacklisted) or are classified as high-risk Jurisdictions by the FATF – including but not limited to The Bahamas, Barbados, the Cayman Islands, Mauritius, Panama, Samoa, and Seychelles.
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