Economic Substance Report (ESR)
In MA Services, we provide professional Economic Substance Report (ESR) consultancy assistance to enable business owners to abide by these rules, evade fines, and to make their operations in line with the tax and economic regulations in Bahrain. Our team of professionals will take you through the labyrinth of the ESR framework and will help in the preparation and filing of your ESR filings in an efficient manner and within the deadline.
Overview
The commercial organizations that were formed within the State of Bahrain with the purpose of company formation and engaged in performing the following activities must file the Economic Substance Return on an annual basis:
- Distribution and service center activities.
- Headquarters activities. Holding company activities.
- Leasing activities (except those activities carried by the licensees of the Central Bank of Bahrain).
- Shipping activities.
- Bahrain Intellectual property activities.
Requirements
- Financial Data Data regarding business practices.
- The information on commercial registration.
- Information about UBOs
Reference
Resolution No.(106) of the year 2018 by the Ministry of Industry, Commerce and Tourism (MOICT) on the requirements of validating the actual economic substance of the activities of the entities in the Kingdom of Bahrain (Resolution) that contains the requirements to be fulfilled by entities in Bahrain in terms of economic substance in Bahrain (the “Rules”) issued on the subject.
How We Can Help
Allow our expert team to help you in the submission of the ESR report and avoid/delete offence on your CR.
✓ Consultancy
✓ Representation before MOICT.
✓ ESR Submission
✓ Offense Removal
✓ Preparation of Report
We assure that records are updated at the Ministry of Industry and Commerce and the validity of such changes.
Meet Our Team
At MA Services, your success is our mission. We take a consistent and strategic approach to building a team of experts ready to support your business wherever you are. Our dedicated professionals work together to help you establish, grow, and succeed in Bahrain.
Mr. Faraz Ahmed Head of Operations
12+ years of experience in financial and business management, ERP systems, Tamkeen support programs & Consultancy.
Mr. Syed Nasiruddin
Head – Audit & Accounting 9+ years experience in auditing, economic substance reporting, financial modeling and forecasting
Mr. Nosherwan Ahmed
Team Lead – Back Office Operations Extensive experience in administration, Reporting, document controlling and query resolutions.
Ms. Eisha Muzaffar
Business development Lead Specialized digital & social media marketing individual with hands-on experience of leading the marketing teams.