Intellectual Property Business | Economic Substance Regulations | IP | Patent | Trademark CIGA ESR

In this video, we will discuss the intellectual property business as a relevant activity in ESR. Economic substance regulations clearly explains what an "intellectual property business" activity entails. It also details what the core income-generating activities (or CIGA's) are for an Intellectual Property Business.

An Intellectual property asset is an intellectual property right in intangible assets. Some of the examples are
1. Copyrights
2. Patents
3. Trademarks
4. Brands
5. Technical Know-how

And the business earns a separately identifiable income from this asset, like –
1. Royalty
2. Licensee fees
3. Franchise fees
4. Capital gains
5. Or other incomes by exploiting this asset.

If the business falls under the definition of an intellectual property 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 authority in the free-zone, or the financial free zones for ESR purposes. Alternatively, you can get in touch with us at [email protected]

To read a quick summary on ESR click on this link - http://www.msiauditors.com/economic-s...

Click on this link to see the entire playlist -    • ESR Explained  

Time Stamp -
0:00 Intro
0:17 What is the Intelectual Property Business as per ESR in UAE?
1:08 What are the Core Income Generating Activity (or CIGA) for an IP business?
1:37 What happens if your business is a High-Risk IP Business as per ESR?
2:03 How to meet the ESR Test for an IP business?
2:34 What is a High-Risk IP Business as per ESR?
3:16 Who Should you report to for ESR as an IP business?

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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.