100% Foreign Ownership in UAE authorised – Everything you need to know.
On November 23, 2020, the UAE Commercial Companies Law (the “CCL”) announced its decision to allow 100% ownership for foreign investors in UAE. This new policy marks a significant shift in the UAE’s business landscape and aims to attract foreign investment, enhance economic growth and stimulate innovation. Read on to find out more about this […]
A Comprehensive Guide to the Accounting Cycle for Trading Businesses
Accounting is an essential aspect of any business, and trading businesses are no exception. All organisations require accounting because dealing with numbers is not an easy task; and as a business, keeping a record of all transactions is crucial in the long run. The recorded information may be needed for various purposes, such as making […]
How to Get a Trade Licence in Dubai: A Step-by-Step Guide to Get Started.
Dubai, one of the most popular and fastest-growing cities in the United Arab Emirates (UAE), is a hub of international trade and commerce. Due to its strong economic climate, many entrepreneurs choose Dubai as the hub for their business operations. In fact, over 55,000 new business licences were granted in the previous year alone, highlighting […]
A detailed guide to the best investment in UAE for maximising your wealth.
The United Arab Emirates (UAE) is a land of great economic opportunities and has a high potential for sustained growth. With its strategic location between Europe, Asia, and Africa, the country has become a hub for business, trade, and investment. Moreover, the UAE government has made considerable efforts to promote foreign investment and create a […]
UAE’s Finance Ministry clarifies the country’s tax residency rules
The Ministry of Finance in the UAE recently issued a decision regarding the determination of tax residency for individuals residing in the Emirates. The ministry clarified that, for tax purposes, an individual’s “usual place of residence” will be considered to be in the UAE if that is where they normally or habitually reside. The clarification […]
Comprehensive guide to taxes in UAE – Income Tax, Property Tax, Corporate Tax UAE and more.
Apart from the incredible skyscrapers, golden beaches, and countless tourist destinations to explore, UAE has one of the most liberal tax policies in the world. Many people consider the UAE to be the financial and commercial hub of the Middle East and coupled with the attractive tax policies make the country an alluring option for […]
What is an MIS Report and why does it deserve your attention? Explained.
Thanks to the implementation of new economic reforms by the UAE government, businesses in the country are slowly but surely realigning themselves to comply with these accounting practices. In order to comply with the amendments to the Commercial Companies Law, VAT, Economic Substance Regulations (ESR), Anti-Money Laundering and Combating Financing of Terrorism (AML-CFT), and Ultimate […]
10 definitive reasons for hiring business consulting companies in UAE.
The World Bank ranks UAE as one of the friendliest countries in the world to set up and conduct business. There is no denying that the Dubai market is approachable and that it welcomes investors and entrepreneurs, but starting a business in a foreign country is usually a stressful and difficult process. Businesses often need […]
Things every business owner should know about the mandatory changes in the Memorandum of Association UAE
In order to ensure that business operations run smoothly across the country, the UAE government implemented restrictions in 2015. In the UAE, business owners must abide by the compliance laws that were put in place to regulate their industry. These laws aid in ensuring the protection of labour, consumer, and intellectual property rights. Commercial enterprises […]
The difference between Direct and Indirect Tax. All you need to know.
Every nation has laws and regulations that require its residents to pay taxes. If citizens of a nation utilise the services and facilities provided by the government, then there is no exemption on the payment of the tax. Individuals or corporations pay taxes to different parties on different occasions, but ultimately the collected tax ends […]