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 […]
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 […]
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 […]
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 […]
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 […]
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, […]
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.
The UAE government has put a lot of focus on innovation accelerators, in order to provide large scope for start-ups and offshore tech companies with employment gap especially
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.