News

Savings Scheme for Expat Employees of the Dubai Government

A new saving scheme was introduced for Expat Employees of the Dubai Government after the DIFC Employee Workplace Savings was successfully implemented.

The Emirate of Dubai is taking one of the lead positions in the world in attracting Foreign Direct Investments

Dubai has long been on the map for foreign direct investment (FDI), now placing near the top in a post-corona investment environment.

Abu Dhabi introduces court for non-Muslims to deal with family disputes

A court for non-muslim family matters has been established in the Emirate of Abu Dhabi, giving foreigners an alternative to the nations federal law applicable to all citizens.

Tadawul - The Saudi Stock Exchange

The Saudi Tadawul Group, the Saudi stock exchange operator planning to go public, potentially raising up to USD 1.01 billion.

UAE Business News - 100% Foreign Ownership

Yesterday, the UAE completely overhauled commercial company ownership laws, being the most recent in a series of sweeping legal changes made in the country over the past month.

UAE Introduces changes to criminal, civil codes and inheritance law

This weekend a surprise announcement came as the UAE proclaimed various legal reforms in the Emirates. Major overhauls of personal, family and inheritance law are introduced with immediate effect according to various news publications.

Remote working residency visa now available in Dubai

Dubai has launched its “virtual working programme” providing residency visa in Dubai to remote working professionals that wish to relocate and live in the Emirate.

Parental leave and extension of equal pay amendments to UAE Labour Law

Federal Decree Law No. 6 of 2020 (“the Decree”) was issued by His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the United Arab Emirates, and implemented on 25th September 2020.

UAE Economic Substance Regulations Factsheet

Cabinet Ministers Decision No. 57 of 2020 concerning Economic Substance Requirements (“the Updated Regulations”), and the accompanying Ministerial Decision No. 100 of 2020 on the issuance of Directive for the Implementation of the Provisions of the Regulations, was published on the 2nd September 2020 repealing and replacing Cabinet Decision No. 31 of 2019.

UAE-Israel Peace Accord

On August 13, 2020, His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, Israeli President Benjamin Netanyahu and US President Donald Trump held a telephone call resulting in a "historic diplomatic breakthrough" declared, 'The Abraham Accord'.

Managing Cash Flows In Uncertain Times

Navigating your business through this ‘black swan’ event will be one of the most challenging experiences a business will ever face with ramifications felt globally throughout the entire supply chain.

Reminder to submit audited financial statements by RAKEZ licensed Companies (only industrial clients)

RAKEZ licensed industrial companies to submit their financial statements within 6 months from the end of the financial year to RAKEZ service centers.

Extensions announced for lodgement of Excise tax and VAT returns

The Federal Tax Authority (FTA) issued a decision on 14 April 2020 to allow excise tax registrants to file two separate tax returns.

Business Relief Package Announced By Dubai Banks

In line with the Central Bank of the UAE directives, Dubai’s leading banks have joined the effort to help customers impacted by the COVID-19 by offering a comprehensive relief package.

Financial Measures Taken By UAE During The COVID-19 Pandemic

A series of measures have now been introduced by various businesses and government authorities in the UAE; to assist and protect individuals and businesses impacted during this crisis.

UAE Coronavirus: Lease considerations

As the Novel Coronavirus has disrupted the world, the UAE has introduced measures to assist tenants and landlords through this period.

UAE Coronavirus Status Report

The spread of Novel Coronavirus (Covid-19)has disrupted the movement and operation of bothindividuals and businesses across the globe. In this uncertain time, we have compiled the following update in order to briefly inform of the current status in theUAE’s response to the pandemic.

One Central Free Zone

One Central, newly developed free zone in Dubai World Trade Center (DWTC). It is a new master planned development of premium commercial offices, hotels, residential and entertainment spaces located right next to Dubai World Trade Center.

UAE Residency as an alternative to the Cypriot Investment Scheme

Cyprus, a traditional citizenship haven, gained a lot of criticism and scrutiny over the years. The UAE presents an attractive alternative for international investors.

British Virgin Islands Economic Substance Requirement – The benefits of UAE Residency as an alternative

The BVI Economic Substance (Companies and Limited Partnerships) Act, 2018 has come into force as from 1st January 2019 in order to meet the deadline set by the EU for compliance with the OECD’s Base Erosion and Profit Shifting requirements.