Setting up business in the UAE. When choosing whether to set up your business in UAE Free Zones or on Mainland it is vital to get a consultation from industry experts to be aware of the latest UAE laws and trends and get the best solution for your company registration in UAE in order…
Have you considered the re-domiciliation of your company to the UAE? If not, please find below some pertinent and beneficial points to consider. (Re-domiciliation is where a company can transfer its domicile from one jurisdiction, to another.) Re-domiciliation is a legal process which allows a company to transfer its domicile/seat of incorporation from one jurisdiction to…
After the invasion of Ukraine, which has left Moscow’s financial system on the verge of collapse, a growing number of wealthy Russians are flocking to the UAE In response to Russia’s invasion of Ukraine, the United States and its European allies have slapped unprecedented sanctions on the country. The Central Bank of Russia is unable…
Foreign nationals obtaining a UAE Residence Visa will no longer be issued a UAE Residence Visa stamp endorsed in their passport, which foreign nationals receive as proof of residence status. Instead, foreign nationals will be issued an Emirates Identity card, which will serve as their residency document. This change is expected to be implemented for…
Cryptocurrency exchange Binance announced on Wednesday that it had been granted a license to operate in Dubai, United Arab Emirates. The company’s presence in the Middle East has been building up lately, with a crypto service provider license in another Gulf market, Bahrain, coming in earlier this week. Under the Dubai virtual asset provider (VASP) license, Binance will…
World’s two major cryptocurrency platforms will set up their regional and global headquarters in Dubai, it was announced at the World Government Summit on Monday. Global cryptocurrency platform Crypto.com will open its regional head office in Dubai while Singapore-based cryptocurrency exchange business Bybit will shift its global head office to the Emirate. “We are opening…
The UAE Ministry of Finance has just announced the introduction of a federal corporate tax from the financial year starting on or after June 1st 2023. A standard statutory tax rate of 9 percent will apply to profit generated by businesses in UAE. Foreign taxes paid will be credited against any payable UAE corporate tax…
The recent rise in crypto-commodities trade has been impossible to ignore. For those who read the financial pages, it feels like every second story is about Bitcoin, Ethereum, or Ripple. And if you’ve clicked on this article, chances are you’ve been wondering how to get involved yourself. Of course, most of the attention on cryptocoins…
G20 finance ministers on Saturday gave their backing to a “historic” global deal to tax multinational companies more fairly and urged hold-out countries to sign up. A framework for international tax reform, including a minimum corporate rate of 15%, was agreed this month by 131 countries. But the endorsement by the 19 biggest economies plus the European Union will help ensure it becomes a reality following years…
DUBAI, June 17 (Reuters) – The United Arab Emirates central bank raised its key overnight interest rate by 5 basis points on Thursday, in step with a similar move by the U.S. Federal Reserve a day earlier. The UAE’s base rate for overnight deposits is anchored to the Fed’s Interest on Excess Reserves (IOER), which…
