5 main advantages of an UAE Visa Resident

Obtaining of a UAE visa resident provides you with plenty of opportunities and advantages. First of all it’s mandatory to get a visa to work, live and permanently visit the UAE together with their families, who have the right to obtain a residence visa too (sponsored by the owner of the working / investor visa). The availability of a resident status in the UAE provides certain advantages. 1. the main one is the total exemption from taxation. Thus, all the UAE residents, both natural persons…

Taxes in Dubai and UAE

UAE have based their foundations, on being one of the famous ‘tax havens’. Like many other Middle East countries, Dubai and UAE in general earn its revenue mainly through the oil industry and offers tax-free living to attract global companies and talent to diversify and enrich their economy further. Therefore, everyone thinks that in Dubai you do not pay taxes; but is it really like that? Is it really tax-free in the UAE? Yes, it is but only in certain circumstances! However, in order to…

How to set up a company in Sharjah Media City Free Zone (Shams)

All UAE’s free zones serve up a host of benefits – 0% corporate and personal tax, 100% company ownership, 100% repatriation of capital and profits, no currency restrictions, and 100% import and export tax exemption, to name just a few. As well as the benefits offered above, some Free Zones also boasts world-class facilities and extra advantages. Take Shams, for example: located in Sharjah, it’s a hub for the media, trading and creative industries – and offers a number of specialised business services and facilities to…

What is the E-Channel Immigration System and how will it affect your company?

The country’s rapid expansion from a population of just one million in 1980 to around nine and a half million today has been largely underpinned by rising numbers of expatriate workers. Such is the influx of foreign workers in recent years that today approximately 90% of the UAE’s population is non-Emirati, according to the CIA’s World Factbook. The UAE economy has also been bolstered by a huge rise in the number of overseas travellers visiting the UAE on tourist visas. Dubai alone attracted 14.3 million…

New Zealand: New opportunities to start your business

Nowadays people are increasingly growing to seek a career abroad. This is due to the strong economic crisis in Italy and because in many foreign countries the procedure to achieve this is much easier. If you have to think about the first thing that comes to mind when thinking about New Zealand? Of course the Middle Land! A young, expanding country, where opportunities to start a business are becoming more and more concrete. It is no coincidence that it is ranked first among the countries in which…

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…