News

Dubai Launches Sports and Entertainment Free Zone

15. March 2025

The Dubai World Trade Centre has announced the launch of the UAE’s first international sports and entertainment free zone, a specialized business cluster aimed at fostering growth and innovation in the sector.

Dubai Grants Golden Visa to Superyacht Owners

21. February 2025

Dubai has launched a long-term residency program which grants eligible yacht owners the opportunity to secure a 10-years UAE Golden Visa. 

Transfer pricing in the UAE (UAE Tax Series / 2 of 2)

17. February 2025

The UAE’s transfer pricing (TP) regime was launched in 2024 and while in line with the OECD arm’s-length standard model, the TP rules are distinctive in certain ways. 

Transfer pricing in the UAE (UAE Tax Series / 1 of 2)

12. February 2025

The UAE is one of several countries in Middle East, together with Saudi Arabia, Qatar and Jordan, that have adopted TP regimes in recent years.  

Corporate Tax for Individuals (UAE Tax Series)

3. February 2025

The new UAE Corporate Income Tax (CIT) applies not just to corporate entities such as companies, but also to natural (physical) persons operating sole proprietorships and being partners in unincorporated partnerships.

Tax and Cryptocurrency in the UAE (Part 1)

12. January 2025

With cryptocurrencies on the rise, especially after the recent US presidential elections, the question of the tax treatment of cryptocurrencies is brought to the fore.

Law and Cryptocurrency in the UAE

7. January 2025

Cryptocurrency is here and seems to stay for a long time. So, what is its legal status in the UAE governed mostly by Shariah laws and principles?

Dubai’s Rental Market 2025 – Outlook 

3. January 2025

Dubai rental market is one of the strongest in the world in comparison to cities like London, New York or Singapore.

Dubai Real Estate Market Record Week

16. December 2024

Dubai's real estate sector achieved yet another landmark last week with an impressive 3.7 billion USD in property sales within a single week.

UAE ‘Golden Package’ launched in Private Aviation

12. December 2024

The UAE's "Golden Package" introduced by the General Civil Aviation Authority (GCAA), provides significant advantages for pilots, private aircraft owners and aviation service providers.

What causes exceptional Ras Al Khaimah’s Property Boom?

21. November 2024

While Dubai and Abu Dhabi are the emirates most talked about for their strong real estate appeal, in recent years Ras Al Khaimah (RAK) has also got into the limelight.

Benefits of the UAE Emirates ID card

8. November 2024

To live in Dubai, Abu Dhabi or other places in the United Arab Emirates (UAE), you need to obtain a UAE residence visa. Thus, you become the UAE resident, and your Emirates ID card is an essential document for you. 

Abu Dhabi is the World’s Wealthiest City

18. October 2024

Abu Dhabi has been recognized as the world’s wealthiest city in terms of sovereign wealth funds (SWF).

Sustainable housing as a new trend in Dubai

20. September 2024

The new trend is sustainable housing and sustainable real estate projects align with the Dubai Quality of Life Strategy 2033 which aims to enhance socio-economic development while prioritizing environmental sustainability.

Dubai will reduce work hours for some government entities

12. August 2024

Dubai has launched the 'Our Flexible Summer' initiative as the pilot scheme to improve work-life balance, enhance workplace flexibility and increase work productivity in its government entities.

3 months deadline for the UAE Corporate Tax registration of new businesses (UAE Tax Series)

3. May 2024

Following the introduction of the Corporate Income Tax (CIT) in the UAE in 2023, to register for CIT is the top priority nowadays as all businesses, regardless of whether they have a mainland, free zone or offshore license are required to register for the corporate tax.

World’s largest airport terminal: Al Maktoum International Airport

29. April 2024

Dubai has unveiled plans for an impressive 35 billion USD construction project to build the world's largest airport terminal at Al Maktoum International Airport.

The UAE soars as a Top 3 Start-up Hub in 2024

21. April 2024

Ambitious entrepreneurs from around the globe seeking to launch their new business in 2024 will be interested to learn that the UAE has been ranked as Top 3 global location out of 52 countries.

Dubai Imposes 20% Tax on Foreign Banks

18. March 2024

Dubai has introduced a new law requiring foreign banks operating in the emirate, except those in the Dubai International Financial Centre (DIFC), to pay a 20% annual tax on their income.

Ramadan: A time of your spiritual growth, but also of unexpected opportunities for your business.

12. March 2024

While focusing on your spiritual journey during this time of year, you might also discover it's a good time to grow your business and enrich the community.

Gulfood – What is on the Table

19. February 2024

"Real Food, Real Business" – the 2024 theme – emphasizes Gulfood's commitment to genuine connections and impactful collaborations, bringing together global brands alongside numerous new exhibitors, presenting authentic food products, ingredients, and culinary traditions.

Gulfood – Shaping the Future of the Global F&B Community 

13. February 2024

Gulfood, one of the world's leading food and beverage events, returns to Dubai from February 19th to 23rd to offer a unique platform not only for discovering new culinary delights, but also for exploring the future of the industry. This commitment of innovation and sustainability closely aligns also with the values of our client BALA 21.

Commercial Licensing Fees Slashed by 25% in Ras Al Khaimah South

6. December 2023

The government of Ras Al Khaimah has issued a directive to boost economic activities and support small and medium enterprises (SMEs) in the southern regions of the emirate. This initiative includes a 25% reduction in commercial licensing fees for SMEs.

Examining TNMM in UAE Corporate Tax for Arm’s Length Pricing

4. December 2023

The UAE's corporate tax system uses the Transactional Net Margin Method (TNMM) to establish an arm's length price for controlled transactions.

UAE Residents’ Visa-Free Destinations for the 52nd National Day

30. November 2023

Over the past five decades, the UAE has transformed itself into a beacon of progress, unity and prosperity, captivating the world with its remarkable achievements.

UAE’s Commitment to Clean Energy at COP28

30. November 2023

The Cop28 summit in the UAE happening on 30 November until 12 December 2023 underscores the country's dedication to environmental sustainability and its ambition to shape a cleaner, greener future for generations to come.

New international rules on carrying gold discussed

24. November 2023

The Dubai Multi Commodities Centre (DMCC) and the World Gold Council are collaborating to establish international regulations and procedures to address the issue of illicit gold trade through hand-carry luggage.

Recent UAE Corporate Tax update clarifies tax benefits for free zone firms

7. November 2023

The UAE Ministry of Finance has recently introduced new corporate tax decisions aimed at offering more clarity for free zone companies on eligible and ineligible activities for tax benefits.

UAE – the 2nd most economically stable country worldwide

1. November 2023

The United Arab Emirates (UAE) has been ranked as the world's second most economically stable country. The UAE boasts a per capita GDP on par with leading Western European nations, making it the most competitive economy in the Arab world.

UAE Ends 3-Months Visit Visa

21. October 2023

The issuance of 90 days visit visas in the UAE has been discontinued. It has been confirmed by the immigration authorities that three-month visas are no longer available, however visitors can come on 30 or 60 days visas.

You can marry online in the UAE 

20. October 2023

The Abu Dhabi Judicial Department (ADJD) is introducing a digital service to facilitate marriage in the UAE. This service enables residents to apply for a marriage certificate and complete the procedures online.

Dubai – the global maritime centre 

22. September 2023

Dubai has solidified its position as a global maritime powerhouse, ranking 5th worldwide on the 2023 International Shipping Centre Development (ISCD) Index for the fourth consecutive year, following Singapore, London, Shanghai and Hong Kong securing the top four spots. 

Dubai’s Property Boom after Covid-19

20. August 2023

What is the cause of today's property boom in Dubai? While Dubai has been always attractive place to invest in real estates, two factors recently increased that appeal: 1/ successful handling of Covid-19 and 2/ influx of Russians due to the war in Ukraine.

UAE healthcare system – update  

9. August 2023

The UAE has introduced new laws with heightened penalties for unlicensed health professionals and facilities. The legislation includes private healthcare facility regulations and also regulations pertaining to veterinary medicine.

UAE residency visa amendments simplified

8. August 2023

UAE residents can now change their visa information online through the official  website or smart app of the Federal Authority for Identity and Citizenship, Customs, and Port Security (ICP)

Dubai’s Free Zones to Embrace Common Law 

4. August 2023

Dubai Emirate is considering the adoption of Common Law within all of its many free zones to enhance their appeal and attract more foreign investment and businesses looking for a familiar legal environment.

DNFBPs Higher Compliance Requirements in the UAE(Compliance Series 2 of 3)

17. July 2023

Designated Non-Financial Businesses and Professions (DNFBPs) are types of businesses and professions that are not typically associated with the financial sector. It includes real estate agents, dealers in precious metals, lawyers and notaries, auditors, accountants, insolvency firms, tax consultants and corporate service providers.

What is the UAE Emiratisation?

15. July 2023

Emiratisation is a government program launched initially in 2006 by the UAE to raise the representation of Emiratis in the workforce in order to boost their contribution to the national economy.

Dubai Courts’ Inheritance Department for Non-Muslim Residents

11. July 2023

The Dubai Courts has established its first inheritance department for non-Muslim residents in the UAE. It provides a comprehensive legislative framework for non-Muslim residents to prepare and administer their wills according to their own, home country laws.

Understanding the UAE’s Economic Substance Regulations (Compliance series 1 of 3)

13. June 2023

The United Arab Emirates (UAE) implemented the Economic Substance Regulations (ESR) in 2019 as a part of their efforts to enhance transparency and align the UAE's tax framework with international standards.

Cash Settlement for Remaining Annual Leave (UAE Employment Law Series)

25. May 2023

Essentially, the UAE Employment Law grants employees 30 days of annual leave after completing one year of employment. The employee can choose to carry forward the leave or receive payment in lieu of the leave, as outlined in Article 29(8).            

UAE Corporate Tax Exemption – Public Benefit Entities

27. April 2023

The UAE Ministry of Finance has announced a new cabinet decision in April exempting qualifying public benefit entities from paying corporate tax.

Dubai “Jaywalking” Rules

9. April 2023

Dubai is without the doubt one of the most dynamic city in the world nowadays. However, one of the more unique aspects of Dubai is its “Jaywalking” rules. 

Second Salary Program Unveiled In the UAE for its Residents

29. March 2023

UAE-based National Bonds, a Dubai government savings and investment company, has launched a Sharia-compliant savings scheme that allows clients to invest a minimum of 1,000 AED (272 USD) per month for at least three years and receive an income at the end of it.

Family Groups Eligible for 5-Year Tourist Visas in the UAE

25. March 2023

The new 5-year multiple-entry tourist visa introduced by the UAE nowallows family groups to apply for visa together without the need for separate visa applications for each family member.

New UAE Corporate Tax knocks on door

9. February 2023

The UAE Government has issued Federal Decree Law of 47 of 2022 on taxation of corporations and businesses in December 2022 which will be effective from 1st June 2023.

UAE Job Loss Insurance Scheme

30. January 2023

The United Arab Emirates (UAE) Unemployment Insurance Scheme was launched in January 2023. The scheme is aimed at supporting individuals 3-months after losing their job to provide a cushion while finding a new job.

DUQE (Dubai Queen Elizabeth) Free zone (Series 4 of 10)

10. January 2023

Uniquely situated aboard the Queen Elizabeth II,DUQE is like no other free zone in Dubai. It is a free zone that offers businesses a range of facilities and services and aims to be the home of next generation of game changers, innovators and disruptors.

International Free Zone Authority (IFZA)(Series 3 of 10)

27. December 2022

International Free Zone Authority (IFZA) is one of the leading free zones in Dubai. It is one of the most dynamic and fastest-growing free zones in the UAE.

Dubai Multi Commodities Centre (DMCC) (Series 2 of 10)

13. December 2022

Dubai Multi Commodities Centre (DMCC) was established in 2002 and quickly has become one of the world’s largest and fastest-growing commodity trading hubs.

Overview of the UAE Free zones (Series 1 of 10)

9. November 2022

The UAE has more than 40 free zones, each catering to specific industries such as finance, commodities, logistics, media, healthcare, technology, R&D etc.

New UAE tax residency rules

15. October 2022

The UAE government has issued on 2 September 2022 the Cabinet Resolution No. (85) of 2022, thus establishing for the first time a legal definition of a UAE tax resident. It will come into force on 1 March 2023. 

Greetings from Florence (Comparison with Dubai)

3. September 2022

I have just spent few weeks in Florence, a beautiful Italian city with rich history, renaissance architecture, delicious local cuisine and unforgettable atmosphere. And I would like to try to make one particular, I believe interesting comparison between Florence and Dubai, my home city at the moment.

New crypto regulator established in Dubai

30. March 2022

Virtual Asset Regulatory Authority (VARA) was established in March 2022 under the Dubai Virtual Asset Regulation Law.