Alcohol trading license in UAE

Dubai being an Islamic State does not support the consumption of liquor but as the economy of this State is heavily dependent on tourism, it cannot apply a complete ban on the sale, purchase or consumption of alcohol. Dubai unlike Sharjah is not a dry State but it has regulated the consumption and the transactions that take place for alcohol. Out of the few taxes that are imposed by this Emirate, one is imposed on Alcohol. Since the year of 1965, Dubai levies 30% tax…

GCC Businesses are still not prepared for VAT Implementation finds new survey

With less than six months until the GCC implements value added tax (VAT), a new survey from ACCA (the Association of Chartered Certified Accountants) and Thomson Reuters has found that there is a significant lack of preparation and awareness among businesses in the region of how it will affect them. The report, Are GCC businesses equipped for VAT?, has found that only 11% of respondents understand the impact that VAT implementation will have on their business, whilst 49% are yet to commence their impact assessment.…

Company Setup in Dubai South Free Zone

But what are some of the advantages in setting up a company in Dubai South Free Zone? First of all, this free zone allows the establishment of a wide range of business activities, from IT to design, HR to consultancy, including trading. Setting up is affordable and allows businesses with a small starting budget to begin operations quickly. Location is also a plus for the Dubai South Free Zone. Dubai is one of the world’s most dynamic and cosmopolitan cities where it is easy to…

Labour Law in the UAE

Hiring in the UAE comes with its own unique set of challenges in the form of standard work contracts, labour law understanding, different stipulations depending on the types of employment contracts offered, and whether or not your business operates from within a free zone and also in which Free Zone you are operating. Labour regulations in the UAE are governed by the UAE Labour Law – Federal Law No. 8 of 1980. Amendments include Federal Laws No. 24 of 1981, No. 15 of 1985 and…

VAT in Dubai and UAE

VAT (Value Added Tax) is expected to be introduced in UAE at a rate of 5% on 1 January 2018. This percentage is purposely kept low to limit impact on UAE cost of living. The UAE Federal and Emirate governments provide citizens and residents with many different public services, paid from the government budgets. VAT will provide country with a new source of income which will contribute to the continued provision of high quality public services into the future. It will also help government move towards…

Company formation Dubai & UAE

Company formation in Dubai is a relatively simple and speedy process with strong incentives, notably in the form of the UAE’s free zones.  There are other options as to the type of business you can set up in the UAE (for example, onshore or offshore), but free zones are particularly popular with foreign entrepreneurs and with good reason. Among the incentives they offer are 0% corporation and personal tax, 100% company ownership, 100% repatriation of capital and profits, no currency restrictions and 100% import and export tax exemption.…