In this video, we will discuss the shipping business as a relevant activity in ESR. Economic substance regulations clearly explain what a "shipping business" activity entails. It also details what the core income-generating activities (or CIGA's) are for shipping businesses.

Shipping business is a business that operates one or more ships in international traffic for the transport of passengers, cargo or both

We must also understand that
1. Fishing vessels,
2. Small vessels, and
3. Leisure vessels
are not considered as a ship as per ESR

If the business falls under the definition of a shipping business then, they must make sure that they conduct all the CIGA in UAE. The business must also make sure that it reports to the ministry of economy, or the relevant authorities in the free-zone, or the financial free zones for ESR purposes.

Click on this link to see the entire playlist - [ Ссылка ]

Timestamp
0:00 Intro - Shipping Business ESR
0:16 What is Shipping Business as per ESR
1:15 What are the core income-generating activities (CIGA) for a shipping business in ESR?
2:11 Who to report for ESR for Shipping Business
2:21 Outro

To have a quick free consultation you can get in touch with us at +971 4 2651383 or +971 55 6460108, during our office hours. Alternatively, you can get in touch with us at solutions@msiauditors.com

Website-
[ Ссылка ]

FB-
[ Ссылка ]

Linkedin-
[ Ссылка ]

Instagram-
[ Ссылка ]

Twitter-
[ Ссылка ]

Tik Tok
[ Ссылка ]

To read a quick summary on ESR click on this link - [ Ссылка ]

We are one of the oldest audit firm based out of UAE, with over 30 years' experience. We are experts in Audit, Accounting, Taxation & Consultancy related services. Get in touch with us for more professional advice on your company's ESR compliance requirements.

свернуть