DIFC Announces Enactment of Updated Prescribed Company Regulations
Amendments to regulations expand and simplify existing regime, maintains Centre’s reputation as a jurisdiction of substance Dubai International Financial Centre (DIFC) has announced significant amendments to the Prescribed Company (PC) Regulations, further expanding and simplifying the existing regime. These changes, effective from July 15, 2024, aim to address the increasing demand for access to special-purpose […]
Navigating Corporate Tax Registration for New Businesses in the UAE
Understanding the UAE’s tax landscape and key deadlines is crucial As the UAE continues to be a hotspot for new businesses, understanding the corporate tax landscape has become crucial. New enterprises setting up in the UAE must prioritise corporate tax registration, adhering to a strict 3-month deadline from their date of incorporation to avoid penalties. […]
UAE and Qatar Strengthen Economic Ties with Landmark Tax Agreement
Move set to enhance trade and investment partnership between both nations On May 30, the UAE and Qatar marked a significant milestone in their economic relations by signing a double taxation avoidance agreement. This move is set to reshape the financial landscape between the two nations, enhancing their trade and investment partnership. What Does This […]
What is Dubai’s Gaming Visa?
Visa to create stable and secure environment for gaming talent, allowing them to grow their businesses and careers At the end of 2023 Dubai announced the Dubai Gaming Visa. As part of the ambitious Dubai Program for Gaming 2033 (DPG 2033), this visa aims to attract top gaming talent from around the world, foster local […]
UAE Exits FATF Grey List with Implications for the Region’s Financial Sector
UAE makes strides in AML/CFT compliance, removed from FATF grey list, signalling a positive shift for its financial landscape. The Financial Action Task Force (FATF) has recently removed the United Arab Emirates from its increased monitoring list, often referred to as the “grey list”. This landmark decision demonstrates the UAE’s robust commitment to combatting money […]
UAE Ministry of Finance Announces Enhanced Corporate Tax Framework for Free Zone Companies
The Ministry of Finance in the UAE recently announced updates to the corporate tax framework for free zone companies, aligning more closely with international standards. This initiative includes Cabinet Decision No. 100 of 2023, focusing on defining qualifying income, and Ministerial Decision No. 265 of 2023, detailing qualifying and excluded activities. Younis Haji Al Khoori, […]
UAE Golden Visas and Green Visas are now available
Amendments to the visa program aims to strengthen the UAE as a destination for top global talent The UAE 10-year Golden residency Visa for property investors is now available for those who invest as little as AED 2 million (US$ 544,000) in properties in the UAE, down from AED 10 million previously. The 10-year Golden […]
Is The UAE Really Tax Free?
The UAE has long been considered an attractive destination in which to work, live or set up a business. One of the primary reasons for this is the well-known statement that the UAE is ‘tax free’ The question that most often follows is, is that really true? The answer is yes…and no! The UAE is […]