WAGES PROTECTION SYSTEM (WPS) IN THE UAE : NEW AMMENDMENTS
More than 200 different nations have citizens living in the UAE, which helps the nation’s economy and general development. The UAE government had introduced the Wages Protection System in 2019 to simplify payments and wage distribution. WPS was designed to ensure that companies meet their obligations to pay their employees promptly and protection them from […]
Understanding the Banking Process
Many business owners hope to launch their venture in the United Arab Emirates. The UAE is one of the most sought-after business locations in the globe due to its highly business-friendly environment and growth potential. Opening a business bank account is among the most crucial requirements for launching a business in the United Arab Emirates. […]
UAE introduces new Labor Law
UAE Labor Law: Governing Employment The Ministry of Human Resources & Emiratisation (“MOHRE”) has announced an overhaul to the labor laws in the UAE. The new UAE Labor Law (Federal Decree Law No. 33 of 2021), will come into effect as of 2 February 2022. The New Law will replace the current Federal Law No. […]
Dubai’s Real Estate Market – Rise after the Pandemic
The last three years has been a roller coaster ride for everyone. The Pandemics have changed the lifestyles of many. People in the United Arab Emirates (UAE) suffer from a similar fate. Dubai’s real estate market was thriving for years before the pandemic. Ten months after the jump, things seem to have changed a bit. […]
Has your License Been Renewed?
Read the blog to see the penalties for expired business licenses in Dubai. A valid license in Dubai is a free pass to run a business anywhere in the United Arab Emirates. License owners should check for license renewals as needed. If you do not renew your license on time, you will have to pay […]
The Most Important Things to Think About When Hiring an Accounting Firm in Dubai
It doesn’t matter what kind of business you have, how big it is, or what industry you’re in. It’s critical to keep track of your books of accounts properly and accurately. Without effective accounting processes, any firm or organization would undoubtedly become vulnerable to a wide range of economic, financial, and operational hazards over time. […]
DMCC Crypto License – An Opportunity Not to be Missed
An investor must first create a company with the Dubai Multi Commodities Center (DMCC) before obtaining a Cryptocurrency License to execute the appropriate commercial operations. An investor can supply cryptocurrency-related services (storage, management, trading, Bitcoin solutions, software applications, advisory, services, etc.) to clients with a Crypto License in DMCC. Cryptocurrency licenses in the United Arab […]
UAE Corporate Tax: Public Consultation Document
On 28th April 2022, The UAE Ministry of Finance (“MoF“) announced public consultation on the Federal Corporate Tax framework. Businesses can submit their responses online until May 19, 2022, by clicking on this link – https://www.mof.gov.ae/en/resourcesAndBudget/Pages/Corporate-Tax-Submission-Public-Consultation.aspx Please note that the content of the public consultation document does not represent the UAE government’s final position. As […]
A Look at Dubai’s Virtual Asset Law – VARA to act as a new regulatory body
Dubai Passes a New Law on Crypto
