The policy documents listed below highlight the rules and regulations that apply to all free zones and the mainland. Please be aware that all information in the documents below is subject to change in accordance with orders from the UAE government.
1. UBO (‘Ultimate Beneficial Owner’)
2. DNFBPs (‘Designated Non-Financial Business Profession’)
a. Circular No. 1- 2021 “Real Estate Broker & Agents
b. Circular No. 2- 2021 “Dealer in Precious Metal & Stone”
c. Circular No. 3- 2021 “Account Auditor”
d. Circular No. 4- 2021 “Company Services Provider”
e. Circular No. 5- 2021 “Lega; Consultancy Firms”
f. The United Arab Emirates has exhibited a resolute dedication to implementing UN Security Council Resolutions (UNSCRs) and adhering to UN sanctions protocols. Therefore, the UAE is enforcing the UNSCRs on the suppression and combating of terrorism, countering the financing of terrorism, and preventing the proliferation of weapons of mass destruction. Specifically, the UAE is targeting financial sanctions (TFS) regimes, as defined by the UN, through Cabinet Resolution No. 74 of 2020. Cabinet Decision No. 74 of 2020 (Download and Attached)
g. Circular No. 6- 2021 Concerning Updates on “High Risk Jurisdictions”
3. ESR (‘Economic Substance Regulations’)
Cabinet Decision No. 31 of 2019 was revoked on August 10, 2020, when Cabinet Resolution No. 57 of 2020 was published, amending the Economic Substance Regulations (ESR) of the United Arab Emirates (UAE). Subsequently, Ministerial Decision No. 100 of 2020 was released on August 19, 2020, which functions as additional guidance. It includes an updated Relevant Activities Guide attached as an appendix. These documents are together referred to as the "New UAE ESR." The Ministry of Finance's (MoF) website has revised its frequently asked questions (FAQs) to incorporate the New UAE ESR's requirements.
Please refer to the New UAE ESR-related documents available on the following links:
- New Cabinet Resolution No 57 of 2020 revoking Cabinet Resolution No 31 of 2019
- Ministerial Decision 100 of 2020 ESR Guidance and Relevant Activities Guide Issued 19 August 2020
- Economic Substance UAE Economic Substance Flowchart
- Relevant Activities Summary
- Updated FAQs
- Notice regarding ESR Filing Requirements and Deadlines
