14.02.2024
News
UAE Company: Necessary Actions

The White Square team has prepared a compliance schedule of actions that need to be taken in respect to the UAE company.

 

No. Actions Deadline
1. License renewal Before the expiration of the current license (we recommend initiating the renewal at least 2 weeks prior to the expiration)
2. Establishment card renewal Before the expiration of the current establishment card but not earlier than license renewal (we recommend initiating the renewal as soon as you receive the renewed license)
3. Corporate tax (CT) registration Already available but in any case not later than before filing a tax return until 28.02.2025 or 30.09.2025
4. VAT registration 30 days after exceeding AED 375,000 (approx. USD 102k) in total annual revenue
5. Filing VAT return 28 days after the end of an applicable tax period
6. Economic substance notification 6 months from the end of the financial year, if economic substance requirements are applicable to the company (e.g., if it operates as a distribution/service centre or as a holding company)
7. Economic substance report (ESR) 12 months from the end of the financial year, if economic substance requirements are applicable to the company

To comply with the Russian law requirements, it is also important to timely notify Russian tax authorities of the registration of a controlled foreign company (CFC), as well as to file tax return with respect to profits of such a company.

White Square is ready to support the clients with all the necessary actions, registration and reporting under UAE and Russian law. The team has strong experience in corporate services and tax compliance.

If you have any questions, please do not hesitate to contact your regular contacts at White Square. You can also email us at info@whitesquarepartners.com or contact us on +971 58 634 8800 (including WhatsApp and Telegram).

14.02.2024
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