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economic substance regulations

Cabinet Resolution No (58) Of 2019 Determining The Regulatory Authorities Concerning Economic Substance Regulations

Cabinet Resolution No (58) of 2019 determining the regulatory authorities concerned with the business mentioned in cabinet resolution no (31) of 2019 concerning economic substance regulations.

Serial Number Topic Description ( Economic Substance Regulations )
1 Banking Business 1. The Central Bank of the United Arab Emirates for banking activities regulated by the Bank.

2. The competent authority in the financial free zone for the banking business in which it is engaged.
2 Insurance business 1. The insurance authority for insurance works that are regulated by the Authority.

2. The competent authority in the free zone for the insurance work in which it operates.

3. The competent authority in the financial free zone for the insurance work in which it operates.
3 Investment fund management business 1. Securities and Commodities Authority for the management of investment funds regulated by the Authority.

2. The competent authority in the free zone for the investment fund management work in which it operates.

3. The competent authority in the financial free zone for the work of managing the investment funds you are in.
4 Leasing business 1. The Central Bank of the United Arab Emirates for the financial leasing works that are regulated by the bank.

2. The competent authority in the free zone for the leasing works in which it operates.

3. The competent authority in the financial free zone for the leasing works that You’re doing it.
5 Headquarters works 1. Ministry of Economy for the activities and activities of the headquarters, which is regulated by the Ministry.

2. The competent authority in the free zone for the work of the headquarters in which it operates.

3. The competent authority in the financial free zone for the work of the headquarters in which it operates.
6 Shipping Business 1. Ministry of Economy for shipping works regulated by the Ministry.

2. The competent authority in the free zone for the shipping works in which it operates.

3. The competent authority in the financial free zone for the shipping works in which it operates.
7 The company’s holdings 1. Ministry of Economy for the work of the holding company, which is regulated by the Ministry.

2. The competent authority in the free zone for the work of the holding company in which it operates.

3. The competent authority in the financial free zone for the work of the holding company in which it operates.
8 Intellectual Property business 1. Ministry of Economy for the work of the holding company, which is regulated by the Ministry.

2. The competent authority in the free zone for the work of the holding company in which it operates.

3. The competent authority in the financial free zone for the work of the holding company in which it operates.
9 IP works 1. Ministry of Economy for intellectual property works regulated by the Ministry.

2. The competent authority in the free zone for intellectual property works in which it operates.

3. The competent authority in the financial free zone for the intellectual property works in which it operates.
10 Distribution and service centre business 1. Ministry of Economy for the work of distribution centers and services regulated by the Ministry.

2. The competent authority in the free zone for the work of distribution centers and services in which they operate.

3. The competent authority in the financial free zone for the work of distribution centers and services that operate In it.

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