Concerned Regulatory Authorities under ESR - Economic Substance Regulation in UAE

For each relevant activity under the economic substance regulation the concerned regulatory authorities have specified under article 2 of the UAE Cabinet Resolution No. 58 of 2019. 

• ​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

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• ​UAE Central Bank for banking business regulated by the Central Bank.
• The competent authority in the Financial Free Zone for banking business carried out therein.

Central Bank : 
Example : Where the entity has been issued license for the banking business from the Central Bank of the UAE  in the emirates of  Dubai, Abu Dhabi Sharjah, Umm Al Quwain, Ajman, Ras Al Khaimah and Fujairah.

Financial Free Zone Authorities : ​
Example :  Where the entity has been issued license for the banking business from the  free zone authorities like ​Dubai International Financial Centre (DIFC),  Abu Dhabi Global Market (ADGM) ​

• ​Insurance  Authority for insurance business regulated by the said authority.
• The competent authority in the Free Zone for insurance business carried out therein. 
• The competent authority in the Financial Free Zone for insurance business carried out therein.

​​Insurance Authority : 
Example : Where the entity has been issued license for the insurance business from the  Insurance Authority UAE in the emirates of  Dubai, Abu Dhabi Sharjah, Umm Al Quwain, Ajman, Ras Al Khaimah and Fujairah.

​Free Zone Authorities : 
Example :  Where the entity has been issued license for the insurance business from the  free zone authorities like  ​Jebel Ali Free Zone Authority ( JAFZA), Dubai Multi Commodities Centre (DMCC), Dubai Airport Free Zone (DAFZ) ,  Khalifa Port Free Trade Zone (KIZAD), ​ ​Sharjah Airport Free Zone Authority (SAIF Zone), Hamriya Free Zone Authority  (HAFZ),  Ajman Free Zone Authority  (AFZA),  Umm Al Quwain Free Zone Authority  (UAQ Free Trade Zone),  Ras Al Khaimah Economic Zone  (RAKEZ), Fujairah Free Zone Authority  in the emirates of  Dubai, Abu Dhabi Sharjah, Umm Al Quwain, Ajman, Ras Al Khaimah and Fujairah.

​Financial Free Zone Authorities : ​
Example :  Where the entity has been issued license for the insurance business from the  free zone authorities like ​Dubai International Financial Centre (DIFC),  Abu Dhabi Global Market (ADGM)

• ​Securities and Commodities Authority for investment fund management business regulated by the said authority.
• The competent authority in the Free Zone for investment fund management business carried out therein. 
• The competent authority in the Financial Free Zone for investment fund management business carried out therein.

​Securities and Commodities Authority : 
Example : Where the entity has been issued license for the investment fund management business from the Securities & Commodities Authority UAE in the emirates of  Dubai, Abu Dhabi Sharjah, Umm Al Quwain, Ajman, Ras Al Khaimah and Fujairah.

​Free Zone Authorities : 
Example :  Where the entity has been issued license for the investment fund management business from the  free zone authorities like  ​Jebel Ali Free Zone Authority ( JAFZA), Dubai Multi Commodities Centre (DMCC), Dubai Airport Free Zone (DAFZ) ,  Khalifa Port Free Trade Zone (KIZAD), ​ ​Sharjah Airport Free Zone Authority (SAIF Zone), Hamriya Free Zone Authority  (HAFZ),  Ajman Free Zone Authority  (AFZA),  Umm Al Quwain Free Zone Authority  (UAQ Free Trade Zone),  Ras Al Khaimah Economic Zone  (RAKEZ), Fujairah Free Zone Authority  in the emirates of  Dubai, Abu Dhabi Sharjah, Umm Al Quwain, Ajman, Ras Al Khaimah and Fujairah.

​Financial Free Zone Authorities : ​
Example :  Where the entity has been issued license for the investment fund management business from the  free zone authorities like ​Dubai International Financial Centre (DIFC),  Abu Dhabi Global Market (ADGM)

• UAE Central Bank for lease finance business regulated by the Central Bank.
• The competent authority in the Free Zone for lease finance business carried out therein. 
• The competent authority in the Financial Free Zone for lease finance business carried out therein.

Central Bank : 
Example : Where the entity has been issued license for the lease finance business from the Central Bank of the UAE  in the emirates of  Dubai, Abu Dhabi Sharjah, Umm Al Quwain, Ajman, Ras Al Khaimah and Fujairah. 

Free Zone Authorities : 
Example :  Where the entity has been issued license for the  lease finance business from the  free zone authorities like  ​Jebel Ali Free Zone Authority ( JAFZA), Dubai Multi Commodities Centre (DMCC), Dubai Airport Free Zone (DAFZ) ,  Khalifa Port Free Trade Zone (KIZAD), ​ ​Sharjah Airport Free Zone Authority (SAIF Zone), Hamriya Free Zone Authority  (HAFZ),  Ajman Free Zone Authority  (AFZA),  Umm Al Quwain Free Zone Authority  (UAQ Free Trade Zone),  Ras Al Khaimah Economic Zone  (RAKEZ), Fujairah Free Zone Authority  in the emirates of  Dubai, Abu Dhabi Sharjah, Umm Al Quwain, Ajman, Ras Al Khaimah and Fujairah. ​

Financial Free Zone Authorities : ​
Example :  Where the entity has been issued license for the lease finance business from the  free zone authorities like ​Dubai International Financial Centre (DIFC),  Abu Dhabi Global Market (ADGM) ​

• Ministry of Economy for headquarter business regulated by the said Ministry. 
• The competent authority in the Free Zone for headquarter business carried out therein. 
• The competent authority in the Financial Free Zone for headquarter business carried out therein.

Example : Where the entity has been issued license for the headquarter business from the  Dubai Department of Economic Development , Abu Dhabi Department of Economic Development , Sharjah Economic Development Department , Ras Al Khaimah Economic Development Department , Ajman Economic Development Department , Umm Al Quwain Economic Development Department ,Fujairah Municipality and other non free zone or financial free zone authorities in the emirates of  Dubai, Abu Dhabi Sharjah, Umm Al Quwain, Ajman, Ras Al Khaimah and Fujairah. ​

Example :  Where the entity has been issued license for the  headquarter business from the  free zone authorities like  ​Jebel Ali Free Zone Authority ( JAFZA), Dubai Multi Commodities Centre (DMCC), Dubai Airport Free Zone (DAFZ) ,  Khalifa Port Free Trade Zone (KIZAD), ​ ​Sharjah Airport Free Zone Authority (SAIF Zone), Hamriya Free Zone Authority  (HAFZ),  Ajman Free Zone Authority  (AFZA),  Umm Al Quwain Free Zone Authority  (UAQ Free Trade Zone),  Ras Al Khaimah Economic Zone  (RAKEZ), Fujairah Free Zone Authority  in the emirates of  Dubai, Abu Dhabi Sharjah, Umm Al Quwain, Ajman, Ras Al Khaimah and Fujairah. ​

Financial Free Zone Authorities : ​
Example :  Where the entity has been issued license for the  headquarter business from the  free zone authorities like ​Dubai International Financial Centre (DIFC),  Abu Dhabi Global Market (ADGM) ​

• Ministry of Economy for shipping business regulated by the said Ministry. 
• The competent authority in the Free Zone for shipping business carried out therein. 
• The competent authority in the Financial Free Zone for shipping business carried out therein.

Ministry of Economy : 
Example : Where the entity has been issued license for the shipping business from the  Dubai Department of Economic Development , Abu Dhabi Department of Economic Development , Sharjah Economic Development Department , Ras Al Khaimah Economic Development Department , Ajman Economic Development Department , Umm Al Quwain Economic Development Department ,Fujairah Municipality and other non free zone or financial free zone authorities in the emirates of  Dubai, Abu Dhabi Sharjah, Umm Al Quwain, Ajman, Ras Al Khaimah and Fujairah. ​

Free Zone Authorities : 
Example :  Where the entity has been issued license for the  shipping business from the  free zone authorities like  ​Jebel Ali Free Zone Authority ( JAFZA), Dubai Multi Commodities Centre (DMCC), Dubai Airport Free Zone (DAFZ) ,  Khalifa Port Free Trade Zone (KIZAD), ​ ​Sharjah Airport Free Zone Authority (SAIF Zone), Hamriya Free Zone Authority  (HAFZ),  Ajman Free Zone Authority  (AFZA),  Umm Al Quwain Free Zone Authority  (UAQ Free Trade Zone),  Ras Al Khaimah Economic Zone  (RAKEZ), Fujairah Free Zone Authority  in the emirates of  Dubai, Abu Dhabi Sharjah, Umm Al Quwain, Ajman, Ras Al Khaimah and Fujairah. ​

Financial Free Zone Authorities : ​
Example :  Where the entity has been issued license for the  shipping business from the  free zone authorities like ​Dubai International Financial Centre (DIFC),  Abu Dhabi Global Market (ADGM) ​

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• Ministry of Economy for holding company business regulated by the said Ministry. 
• The competent authority in the Free Zone for holding company business carried out therein. 
• The competent authority in the Financial Free Zone for holding company business carried out therein.

Ministry of Economy : 
Example : Where the entity has been issued license for the holding company business from the  Dubai Department of Economic Development , Abu Dhabi Department of Economic Development , Sharjah Economic Development Department , Ras Al Khaimah Economic Development Department , Ajman Economic Development Department , Umm Al Quwain Economic Development Department ,Fujairah Municipality and other non free zone or financial free zone authorities in the emirates of  Dubai, Abu Dhabi Sharjah, Umm Al Quwain, Ajman, Ras Al Khaimah and Fujairah. ​

Free Zone Authorities : 
Example :  Where the entity has been issued license for the  holding company business from the  free zone authorities like  ​Jebel Ali Free Zone Authority ( JAFZA), Dubai Multi Commodities Centre (DMCC), Dubai Airport Free Zone (DAFZ) ,  Khalifa Port Free Trade Zone (KIZAD), ​ ​Sharjah Airport Free Zone Authority (SAIF Zone), Hamriya Free Zone Authority  (HAFZ),  Ajman Free Zone Authority  (AFZA),  Umm Al Quwain Free Zone Authority  (UAQ Free Trade Zone),  Ras Al Khaimah Economic Zone  (RAKEZ), Fujairah Free Zone Authority  in the emirates of  Dubai, Abu Dhabi Sharjah, Umm Al Quwain, Ajman, Ras Al Khaimah and Fujairah. ​

Financial Free Zone Authorities : ​
Example :  Where the entity has been issued license for the  holding company business from the  free zone authorities like ​Dubai International Financial Centre (DIFC),  Abu Dhabi Global Market (ADGM) ​

• Ministry of Economy for intellectual property business regulated by the said Ministry. 
• The competent authority in the Free Zone for intellectual property business carried out therein. 
• The competent authority in the Financial Free Zone for intellectual property business carried out therein.

Ministry of Economy : 
Example : Where the entity has been issued license for the intellectual property business from the  Dubai Department of Economic Development , Abu Dhabi Department of Economic Development , Sharjah Economic Development Department , Ras Al Khaimah Economic Development Department , Ajman Economic Development Department , Umm Al Quwain Economic Development Department ,Fujairah Municipality and other non free zone or financial free zone authorities in the emirates of  Dubai, Abu Dhabi Sharjah, Umm Al Quwain, Ajman, Ras Al Khaimah and Fujairah. ​

Free Zone Authorities : 
Example :  Where the entity has been issued license for the  intellectual property business from the  free zone authorities like  ​Jebel Ali Free Zone Authority ( JAFZA), Dubai Multi Commodities Centre (DMCC), Dubai Airport Free Zone (DAFZ) ,  Khalifa Port Free Trade Zone (KIZAD), ​ ​Sharjah Airport Free Zone Authority (SAIF Zone), Hamriya Free Zone Authority  (HAFZ),  Ajman Free Zone Authority  (AFZA),  Umm Al Quwain Free Zone Authority  (UAQ Free Trade Zone),  Ras Al Khaimah Economic Zone  (RAKEZ), Fujairah Free Zone Authority  in the emirates of  Dubai, Abu Dhabi Sharjah, Umm Al Quwain, Ajman, Ras Al Khaimah and Fujairah. ​

Financial Free Zone Authorities : ​
Example :  Where the entity has been issued license for the  intellectual property business from the  free zone authorities like ​Dubai International Financial Centre (DIFC),  Abu Dhabi Global Market (ADGM) ​

• Ministry of Economy for distributions and service centre business regulated by the said Ministry. 
• The competent authority in the Free Zone for distributions and service centre business carried out therein. 
• The competent authority in the Financial Free Zone for distributions and service centre business carried out therein. 

Ministry of Economy : 
Example : Where the entity has been issued license for the distribution and service centre from the  Dubai Department of Economic Development , Abu Dhabi Department of Economic Development , Sharjah Economic Development Department , Ras Al Khaimah Economic Development Department , Ajman Economic Development Department , Umm Al Quwain Economic Development Department ,Fujairah Municipality and other non free zone or financial free zone authorities in the emirates of  Dubai, Abu Dhabi Sharjah, Umm Al Quwain, Ajman, Ras Al Khaimah and Fujairah. 

Free Zone Authorities : 
Example :  Where the entity has been issued license for the distribution and service centre from the  free zone authorities like  ​Jebel Ali Free Zone Authority ( JAFZA), Dubai Multi Commodities Centre (DMCC), Dubai Airport Free Zone (DAFZ) ,  Khalifa Port Free Trade Zone (KIZAD), ​ ​Sharjah Airport Free Zone Authority (SAIF Zone), Hamriya Free Zone Authority  (HAFZ),  Ajman Free Zone Authority  (AFZA),  Umm Al Quwain Free Zone Authority  (UAQ Free Trade Zone),  Ras Al Khaimah Economic Zone  (RAKEZ), Fujairah Free Zone Authority  in the emirates of  Dubai, Abu Dhabi Sharjah, Umm Al Quwain, Ajman, Ras Al Khaimah and Fujairah. 

Financial Free Zone Authorities : ​
Example :  Where the entity has been issued license for the distribution and service centre from the  free zone authorities like ​Dubai International Financial Centre (DIFC),  Abu Dhabi Global Market (ADGM) 

What is Economic Substance Regulations? 

What Compliance is required under the UAE Economic Substance Regulations?

Business Activities, subject to notification - substance test and annual substance return compliance  under the UAE  Economic Substance Regulation 

Economic Substance Regulations in United Arab Emirates

Concerned Regulatory Authorities under ESR - Economic Substance Regulation in UAE

Who is subject to the ESR?
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For more information on how Gupta Accountants could assist you in compliance with UAE  Economic Substance Regulation Rules, ​contact us today. ​

Gupta Accountants competent team of chartered accountants in Dubai, provides best supports at all the stages of the compliance to Economic Substance Regulations in UAE to companies registered under free zones and on main land, established in the emirates of  Dubai, Abu Dhabi Sharjah, Umm Al Quwain, Ajman, Ras Al Khaimah and Fujairah.  
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