When it comes to corporate tax obligations in the UAE, there’s a common and persistent misconception: All free zone companies must register for corporate tax. This widespread belief is, however, inaccurate. Specifically, free zone companies structured as sole establishments have different requirements that can exempt them from corporate tax registration under certain conditions. Understanding the...
Introduction In a recent development, the UAE has announced the cancellation of its Economic Substance Regulations (ESR). This decision is part of a broader effort to align the nation’s regulatory environment with global standards and enhance business operations in the region. This article provides an overview of the cancellation, its implications, and what businesses in...
The UAE is a major global hub for trade and commerce, making it essential for businesses involved in importing and exporting to have a valid customs code. This guide will walk you through the process of obtaining an import export customs code in the UAE via the Dubai Trade Portal and highlight the importance of...
Introduction Abu Dhabi Global Market (ADGM) is an international financial center located in the capital of the United Arab Emirates, offering a robust legal and regulatory framework based on English common law. For those looking to establish a foundation within ADGM, there are provisions to do so without the need to appoint a Company Service...
When it comes to setting up a business, many entrepreneurs often wonder, “Why should I use a business consultant for Company Setup if I can get my license directly from the registration authority?” It’s a valid question, especially when considering the potential additional costs involved. However, the value of using a business consultant goes far...
Corporate banking in the UAE has garnered a challenging reputation among business owners. Many face significant delays and obstacles when trying to open corporate bank accounts, leading to frustration and financial setbacks. A primary reason for these difficulties is the UAE’s unique banking environment. As a global business hub with historically low or zero taxes,...
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