In 2021, the market revenue for second-hand luxury goods or pre-loved fashion was estimated to be just below 5 billion U.S. dollars worldwide but by 2027, it is projected to almost triple in size reaching a value of 14.7 billion U.S. dollars. Where once upon a time, buying second-hand goods was frowned upon, today they […]
Mainland, Free Zone, and Offshore Businesses in the UAE can take advantage of multiple jurisdiction options, each with its unique benefits and distinct features. The three main jurisdictions are Mainland, Free Zone, and Offshore, where companies can establish their presence in the United Arab Emirates (UAE). Note: You are MINUTES away from finding out your […]
Meydan Free Zone: All You Need to Know Meydan Free Zone is centrally located at the heart of Dubai for ease of access. Being just 20 minutes away from the Dubai International Airport, and ports, Meydan Free Zone is not far from the hustle and bustle of the city and offers an excellent base to […]
SPC Free Zone License SPC Free Zone is just one of the many free zones supporting businesses from all across the UAE. As a driving force providing access to financing, technology, and other resources that can ease your business’s operations while also promoting economic growth within this strategically important region of Sharjah. To get you […]
Introduction of VAT On January 1, 2018, the introduction of VAT brought in a new era of economic change in the taxation system in the UAE. Since then, the companies operating in the GCC (Gulf Cooperation Council) have been subject to VAT provisions. With the establishment of VAT, the Federal Tax Authority (FTA) has generated […]
Introduction: UBO Resolution To create a safer and more financially sound environment for businesses, a new cabinet resolution, also known as the UBO Resolution, came into place on August 28, 2020, regulating the reporting and registration of the Ultimate Beneficial Owners (UBOs). The new resolution has been created following the Anti-Money Laundering and Anti-Terrorist Financial […]
Why implement ESR? On April 30, 2019, the UAE authorities enacted the Economic Substance Regulations (ESR) as a strong commitment to comply with the EU requirements of being removed from the EU’s list of “non-cooperative” tax jurisdictions. The government’s initiative to take this action highlights the nation’s strong efforts to protect companies against unsafe taxation […]
A Global Business Hub Dubai’s strategic location midway between the East and the West provides opportunities for international trade to flourish and for people to move easily across countries. Tax Incentives The UAE’s government offers attractive tax incentives to companies doing business in the country. There are currently no foreign exchange controls, trade barriers, and […]
Corporate Bank Account Now that your business is registered, what’s next after the company trade license is issued? Just as important as it is to conduct business legally in the UAE with a valid trade license, having a UAE corporate bank account is equally critical. The UAE’s modern and reliable banking system, stable local currency, […]
Dubai Remote Work Visa Dubai first announced the initiative of issuing Remote Working Visas in October 2020 allowing entrepreneurs and employees who meet certain requirements to live and work in the UAE for at least a year and to enjoy the benefits of a UAE resident such as housing, banking, telecoms, education, and healthcare – […]
