UAE was included by the European Union in list for lack of framework on tax frauds and tax evasion strategies. To combat this, recently, the UAE enacted the Cabinet Decision No. 31 / 2019 relating to the Economic Substance Regulations (the “Regulation”). The Regulation came into force on April 30, 2019. The purpose of the […]
UAE Introduces Economic Substance Regulations Read More »
Earlier in September 2018, Dubai International Financial Centre (‘DIFC’) Courts had launched a Will Service Centre for business owners to register their wills for various shareholdings they hold in the companies formed in the Emirate of Dubai or the Emirate of Ras Al Khaimah. However, DIFC Courts recently announced that they are now accepting wills
DIFC Wills Services: Non-Muslims Can Now Register Assets Read More »
The UAE Cabinet of Ministries issued a resolution on the reduction and cancellation of fees for the services of some federal entities, which took effect on July 1, 2019. According to the resolution, fees have been reduced by up to 50 percent to enhance the appeal of the national economy and reduce the cost of
Federal Government Services Fees to be Reduced or Cancelled Read More »
Expatriates are welcoming a new change to the sponsorship policy in UAE. A Cabinet Decision No. 30 of 2019 was approved earlier this year and came into effect on Sunday, 14th of July. It covers new policy for UAE residents to sponsor their family members irrespective of their gender, profession and solely based on their
New Sponsorship Policy for Family in UAE Read More »
Dubai International Financial Centre (DIFC) has introduced four (4) new licensing categories with reduced fees to attract more firms to do business in DIFC: short-term licenses, restricted licenses, commercial permissions and dual licenses. Under short-term licenses category, retail businesses and other non-financials will be able to operate their businesses from DIFC with flexible rates over
Dubai’s DIFC Introduces License Categories with Reduced Fees Read More »
The General Directorate of Residency and Foreigners Affairs, Dubai (GDRFA) recently shared all the details about its new 10-year residency scheme which can be availed via the gold card. This scheme has been availed by 400 expatriates by far. Below are the details about this new scheme. What is a Gold Card? It is a
Dubai: Indian tourists don’t have to convert the Indian rupee while shopping at Dubai Duty Free airports as the currency is now acceptable at all three terminals of Dubai International Airport and at Al Maktoum Airport. “Yes, we have started accepting the Indian rupee,” a Dubai duty free staff told Gulf News on Wednesday. Nearly
Indian Rupee is Now Accepted at Dubai Aiports Read More »
In continuation to the news released in September and November 2018 on UAE to attract investors and provide 100% business ownership, by providing a positive and negative list of sectors and activities where 100% ownership will and will not be allowed, another historic announcement was made. The UAE Cabinet had already approved the negative list
UAE Offers 100% Ownership in 122 Economic Activities Read More »
The newly enacted Law No. 02 of 2019 compliments the DIFC’s commitment to international best practice, addressing key issues such as paternity leave, sick pay and end-of-service settlements. The new Employment Law, which will come into effect on the 28th of August 2019, clarifies the application of DIFC’s employment regime to employers and employees, including
DIFC Enacts New ‘Employment Law’ Issued by Dubai Ruler Read More »
The new anti-money laundering system platform named ‘goAML’ already went live in May and all financial entities being supervised by the UAE Central Bank have to register on this system by 27th of June 2019, the UAE Central Bank officials announced in Abu Dhabi. The UAE’s Financial Intelligence Unit will use the platform to gather
Anti-Money Laundering Reporting Platform Launched in UAE Read More »
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