UAE Adopting Cross-border Credit Collaboration
Cross-border credit collaboration has a rich history rooted in the growth of global trade and financial interconnectedness. It refers to the practice governments adopt towards collaboration in facilitating lending and borrowing activities across international borders for the benefit of individuals and corporates relocating their place of residence/domicile. This concept has gained significant traction in recent […]
Purchase property in minutes!
The feature includes sales operations for real estate units, whether apartments or villas, located in free-hold areas through Real Estate Registration Trustees. Why Hassle-free? The prices of the transactions are confirmed through the smart valuation process of real estate units, and this is followed by the completion of payment of fees and the issuance of […]
Launch of Smart Travel System at Dubai International Airport
With a reputation for being one of the top destinations in the world, Dubai has officially launched the ‘Smart Travel’ system on Monday, 22nd of February. Through artificial intelligence and utilization of latest biometric technology, a combination of iris and facial recognition, the Smart Travel system enables passengers to travel without the need for identification […]
Dubai residents can now get married in 24 hours!
Application requirements • The applicants must not be Muslim. • One of the applicants must be a resident of the Emirate of Dubai. • The minimum age requirement is 21 years old. Their age shall be verified by the document issued by the state of their nationality (e.g., Birth Certificate). • The applicants must provide […]
Emiratisation Penalty upto AED 72,000/- Will Take Effect from 1 Jan 2023
The fines are AED 6,000/- per month, a total of AED 72,000/- annually, for each Emirati who has not been employed as per the requisite percentage to be achieved by the end of 2022. The value of the monthly penalties increases progressively at a rate of AED 1,000/- annually until 2026, by which companies are […]
FTA Sets Deadline 31 December 2022 to Apply for Re-determination of Administrative Penalties on Taxes
Eligible taxpayers can apply to have their penalties re-determined to be worth 30 % of the total outstanding amount of penalties that were not paid before 28 June 2021, the FTA said in a statement on Sunday. These taxpayers must ensure they meet the conditions set out in the UAE Cabinet’s decision on re-determining administrative […]
Facilities for Small Projects Subject to Corporate Tax
The Ministry confirmed, during a workshop, it organized in Dubai for journalists, yesterday, that donations and allocations for expenses related to social responsibility will be taken into account from the taxable profits, which will be applied for the fiscal years that will start on or after the first of next June, at a rate of […]
New Proposed DIFC Family Arrangement Regulations and Amendments to the Leasing Regulations for Consultation
The FWC and the proposed regulations will provide a regulatory framework and hub for global and regional family-owned businesses, ultra-high net worth individuals and private wealth. Amendments to the Leasing Regulations are also proposed in a separate consultation paper, to provide clarification in respect of certain fines. The proposed amendments will facilitate the administration and […]
New DIFC Rules for Digital Economy Court
The Dubai International Financial Centre (DIFC) Courts, announced the launch of a new set of specialised rules for its recently formed Digital Economy Court (DEC) Division. The new ‘Part 58’ of the DIFC Courts Rules will facilitate the efficient resolution of digital economy disputes, the new rules will also standardise the use of smart forms […]
New Personal Status Federal Law For Non-Muslims In UAE
The provisions of the Decree-Law apply to non-Muslim foreigners residing in the country unless someone adheres to the application of his country’s law. Moreover, non-Muslim foreigners may agree to implement other legislation on family or personal status in force in the UAE instead of the provisions of this Decree-Law. The Decree-Law provisions regulate the marriage […]
