100% FDI in Dubai, Sharjah & Ajman: New List of Activities Announced

FDI in Dubai

We have already discussed the new FDI law in our earlier posts. However, Dubai, Sharjah & Ajman have now brought up a major update, by increasing the number of activities that are allowable in the 100% foreign ownership options. Dubai, Sharjah & Ajman Department of Economic Development has made 100% Foreign Direct Investment available to […]

Ultimate Beneficial Ownership (UBO) Submissions for Mainland Companies

Ultimate Beneficial Ownership

We have already updated you on how you can determine your UBO. Now however, UAE ministry of economy has requested all companies (Freezones & Mainland)in the UAE to submit real beneficiary details to the respective regulatory authorities. https://www.youtube.com/watch?v=ynd33Ivs_os&list=PLG2rYg8L_bcpcO7qTbJDsWk6VLk81Pr-1 Deadline – 30 June 2021 If UBO submissions are not done, penalty’s will come into effect on […]

Free Zone vs LLC? 6 factors to consider when setting up business in UAE

setting up business in UAE

Setting up a business in UAE is very easy. However, there are many options. The difficulty arises in selecting which option works best for you. The bottom line: In UAE there are 7 emirates, each emirate has its own mainland licensing authority (Department of Economic Development). Each emirate also has many freezone licensing authorities. There […]

6 Legitimate Reasons You Should Consider Setting Up Business in UAE

Setting Up Business in UAE

Setting up a business in UAE, a low tax jurisdiction country is very easy. Below, we will discuss 6 advantages of doing business in UAE. If you plan to move to Dubai, Abu Dhabi, Sharjah, or any of the other Northern Emirates, this is a must read. Note: If you are an entrepreneur (in another […]

Audit Balance Confirmations

AUDIT BALANCE CONFIRMATIONS

Auditing is an independent examination of the financial statements of an entity, irrespective of its size or legal form, for the auditor to express an opinion thereon. An auditor would acquire sufficient and appropriate audit evidence in order to draw a reasonable opinion on the financial statements. An Audit Balance confirmation is audit evidence received […]

DETECTION OF FRAUD

DETECTION OF FRAUD

Fraud can be found early in the history of our world as men have made use of tricks, manipulation, and treachery in order to acquire money, land, goods, or trust, with the overall objective of making a profit. The fraud negatively affects an economy by causing huge financial losses, weakening social stability, threatening democratic structures, […]

100% Foreign ownership Law

100% Foreign ownership Law

We have now received more information about the long-awaited 100% Foreign ownership law which is to come into effect in the UAE. According to legal sources, the “Negative List” has been issued where it contains 14 industries which cannot be permitted for full foreign ownership.

How sustainable is Dubai’s economy?

How sustainable is Dubai’s economy?

As much as the history of Dubai’s economy has been engrossed in its dependence on oil, Dubai currently is less dependent on oil than many may think. Oil, a fossil fuel, has been an integral part of UAE’s economy.