March 2023

Top 5 Economic drivers in Dubai

Dubai is a city that glitters like a jewel in the wide and long desert. The shimmering skyscrapers and the futuristic architecture are a testament to the limitless imagination of the natives. Dubai can never be ignored with its luxurious hotels, premium shopping malls, and other exciting entertainment options which are the top economic drivers in Dubai. This city is where traditional customs and modern innovation fuse together in a unique and fascinating way to create a wonderful spectacle. The reason Dubai has this identity as a futuristic city is because of the various revenue streams that it has. But you could imagine how the Dubai government generates revenue without imposing any income tax on its population. The most obvious answer would be oil, but that is a wrong assumption. Dubai discovered oil just 50 years ago, and it accounts for only one percent of its earnings. The rest of the 99% consists of a variety of different sectors, and this is because of the future-centric decision-making of the government. So Here Is The List Of Sectors That Boost The Dubai Economy The Most: Travel and Tourism Dubai’s grandeur attracts a lot of visitors. People come in large numbers to this city for various reasons, including work, business, and pleasure. Dubai has invested in developing tourist attractions, shopping festivals, and various other activities as a gesture to attract visitors. This investment has yielded a lot of profit and aided in the development of the infrastructure. The government and the people directly benefit from the money the tourists spent on various commodities. The flow of foreign currency has helped forge a strong economy in the emirate. As of now, the travel industry is a good option for business setup in Dubai because the government is always going to support this sector. Real Estate Dubai is known for its robust business environment, and its attractive real estate market has been one of the key factors driving the city’s growth. Dubai is a popular destination for investors and expatriates seeking business opportunities and a place to reside. This has led to a significant increase in demand for both commercial and residential real estate in the city. The real estate market in Dubai offers some of the most luxurious properties in premium locations, as well as top-quality international standard schools and other amenities. Furthermore, the increasing number of company formations in Dubai has further contributed to the growth of the real estate sector. The diverse population and businesses in the city have created a thriving real estate market, which has had a positive impact on the overall business sector of Dubai. Construction Dubai is a place known for all the big industrial setups and huge construction plants. The construction sector is the essence of the Dubai economy, and it is poised to keep growing. It is the foundation for generating jobs in the construction sector, which stimulates the development of other industries, thus aiding in the rise of the economy. The construction sector has played a critical role in developing Dubai’s infrastructure, including roads, bridges, airports, seaports, and public transportation. The use of advanced construction techniques and sustainable materials has helped to reduce costs and increase efficiency. Thus, the construction sector has helped to facilitate business growth, attract foreign investment, and stimulate the need for more construction company formation in Dubai. Information Technology Dubai has emerged as a global hub for business and commerce, and information technology has played a crucial role in its growth. IT has helped Dubai achieve better communication and connectivity with other countries and businesses. Dubai’s advanced telecommunications infrastructure, high-speed internet connectivity, and use of digital technologies have enabled it to connect with businesses and customers around the world easily. Digital tools and platforms such as cloud computing, automated processes, and big data analytics have enabled businesses to automate tasks, manage resources more effectively, and make better decisions. This has also created job opportunities in the IT sector as well as in sectors that use IT extensively. All these reasons come together to prove that IT has a significant role in boosting the Dubai economy. Transportation Dubai’s transportation infrastructure is a key factor in attracting tourists to the city. The city has invested heavily in building world-class airports, including Dubai International Airport and Al Maktoum International Airport, which serve millions of passengers every year. In addition, the city’s public transportation system, which includes buses, taxis, and a metro system, makes it easy for tourists to get around and explore the city. The city’s ports, including Jebel Ali Port and Port Rashid, are among the busiest in the world, and they handle a significant amount of cargo each year. This all led to the economic growth of Dubai. These are just the five sectors that lead the plethora of sectors that aid in the development of Dubai. Never can we actually pinpoint which sectors are the best in terms of providingthe most revenue input to the company. It doesn’t matter which sector you choose; a business setup in Dubai will always have a cauldron of different options. Whichever you choose, Dubai will help you nurture your ambitions and provide you with results that you never thought possible. For aiding businesses, the Dubai government has a lot of schemes and projects that ex-pats can join to expand their business aspirations. The growth of Dubai was so fast that the whole world was in wonder. Your business could also grow like that, all you have to do is choose Dubai. Impressed?? Then just give Marqueway a call, and we can help you setup your dream business without any hiccups.

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Everything you need to know about the Dubai Investor Visa

UAE is a realm of business prospects that offers chances that no other region could possibly provide. In order to represent the greatest infrastructure for building a business setup in Dubai, the city has always provided a variety of opportunities. In this region of the country, a collage of diverse cultures has come together, paving the way for creative business concepts. Authorities have supplied the essential services to make the lives of ex-pats and international investors significantly better than anywhere else because of the city’s unique culture. In terms of social and political stability, the UAE offers a very quiet atmosphere in comparison to many other countries across the world. The Dubai Investment Visa is a novel and innovative strategy for luring foreign capital, offering investors a variety of benefits and perks that make Dubai an enticing location for both investors and businesspeople. We will cover every facet of the Dubai Investment Visa in this blog. What Is The Dubai Investor Visa? The Dubai investor visa is a sort of residential visa that allows expatriates to live in the city and experience all of its perks as an investor. The introduction of investor visas in Dubai is primarily focused on the expansion of company establishments there. This lures potential ex-pats from all over the world to establish a business in Dubai. Under the investor visa program, investors and their families who contribute to the UAE economy are permitted to travel and reside there. In 2018, the UAE announced that wealthy corporations and real estate investors would be granted investment visas valid for five to 10 years. A 5-year investor visa necessitates an initial investment of 5 million dirhams, whereas a 10-year investor visa requires a minimum investment of 10 million dirhams. Types Of Investor Visas In Dubai 1. Three-Year Dubai Investor Visa Foreign investors can dwell and work in Dubai for three years with the Three-Year Dubai Investor Visa. This visa is adequate for short- to medium-term investors wishing to create or invest in a business setup in Dubai. The following standards must be satisfied by investors to be eligible for this visa: Investment: The investor must make a minimum AED 10 million investment in a Dubai-based enterprise. A new firm, an established business, or a real estate project can all be included in the investment. Business activity: The company must operate in one of the following sectors: manufacturing, healthcare, education, renewable energy, or real estate development. Business ownership: The investor must own at least 51% of the business. Financial stability: The investor must demonstrate financial stability and have a clean financial record. Health and security: The investor must undergo a health check and security clearance. Investors may also sponsor their wives, kids, and domestic staff members under the terms of the three-year Dubai Investor Visa. As long as the investor is eligible, the visa may be prolonged for an additional three years. 2. Five-Year Dubai Investor Visa The Dubai Investment Visa for Five Years is a residence visa that permits international investors to live and work in Dubai for a period of five years. For investors who want to pursue a longer-term investment in Dubai, this visa is optimal. Investors must fulfill the following criteria in order to qualify for this visa: Investment: The investor is required to put down a minimum of AED 10 million in a Dubai-based company. A new firm, an established business, or a real estate project might all be included in the investment. Business activity: The business must be in one of the following sectors: real estate development, manufacturing, healthcare, education, technology, or renewable energy. Business ownership: The investor must own at least 51% of the business. Financial stability: The investor must demonstrate financial stability and have a clean financial record. Health and security: The investor must undergo a health check and security clearance. Also, investors may sponsor their wives, kids, and domestic staff members under the five-year Dubai Investor Visa. As long as the investor satisfies the requirements, the visa may be extended for a further five years. The execution of investor visas has been exemplary and encourages company setup in Dubai to reach new heights. 3. Ten-year investment visa or Golden Visa In contrast to the former system of renewable two- or three-year visas, the Dubai Golden Visa allows investors to reside in the UAE for ten years without the obligation of a sponsor. This gives investors more freedom, security, and assurance while conducting business in the nation. Investors, business owners, and high-net-worth individuals who meet the requirements can apply for the Golden Visa. To qualify for the Dubai Golden Visa, investors must meet certain investment criteria. The parameters for determining the investment threshold vary depending on the type of investment undertaken. Real Estate Investment: Invest in property worth at least AED 5 million. Public Investments: Invest in a public investment fund with a minimum value of AED 10 million. Business Investment: Invest in an established company in the UAE with a minimum capital of AED 10 million. Entrepreneurial Investment: Establish a new business with a minimum capital of AED 500,000. Along with the investment criteria, there are other requirements that investors must follow, such as keeping the investment for a minimum of three years, maintaining current health insurance, and passing security checks. 4. Overseas Remote Working Professionals Visa The UAE government has introduced an additional visa category, the Overseas Remote Working Professionals Visa, to woo overseas remote workers and businesses. Foreign nationals can use the visa to settle down and work in the UAE while continuing to be paid by an organization outside of the nation. Remote employees must have a legitimate job contract with an organization outside the UAE, make a minimum of $5,000 per month, provide evidence of employment, and have active health insurance coverage to be eligible for the visa. If an employer has a legitimate business license in their home country and submits a letter of commitment to the UAE government, they may also apply for this

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How can C-level executives apply for a Dubai Golden Visa?

To be eligible for a golden visa in Dubai, you must fit into a specified category. One of the finest for managers working in Dubai is the potential to apply for a golden visa if they meet the criteria of a company’s C-level employee. This is an excellent approach to show that the country is serious about giving the UAE’s skilled citizens all the privileges they need. Individuals will relish the opportunity to live and work in the UAE for a prolonged period of time as a result. Entrepreneurs will be able to recruit talented workers by establishing a business setup in Dubai, owing to the initiatives that the government is taking to make the desert a place of exceptional possibilities. The United Arab Emirates (UAE) launched the Dubai Golden Visa Program as a means of luring in international capital and highly qualified workers. If you meet the criteria, you can apply for the “golden visa” program, which provides a path to permanent residency in the UAE. C-level executive managers are one type of professional who is eligible for the golden visa. The Dubai Golden Visa Program for C-Level Executive Managers will be thoroughly discussed and summarized in this blog. Who Is Considered A C-Level Executive Manager? A C-level executive manager is a high-level executive who is responsible for managing the strategic direction and operations of a company. These executives hold senior positions such as CEO, COO, CFO, CMO, CTO, or CIO. To be eligible for the Dubai golden visa program as a C-level executive manager, the individual must hold one of these senior positions and be employed by a company based in the UAE. The company must also meet certain requirements, which we will discuss in the next section. What Are The Requirements For The Company To Sponsor A Golden Visa For A C-Level Executive Manager? To sponsor a golden visa for a C-level executive manager, the company must meet the following requirements: If the company meets these requirements, it can apply to sponsor a golden visa for a C-level executive manager. What Are The Benefits Of The Dubai Golden Visa For C-Level Executive Managers? The Dubai Golden Visa provides an avenue to UAE permanent residency. This entails that the person and their family members are able to reside and work in the UAE indefinitely. The following advantages are also offered by the golden visa: No income tax: C-level executives can keep a larger portion of their pay because the UAE has no income tax. Business-friendly environment: Dubai is renowned for its business-friendly environment, which gives C-level executive managers chances to advance both their companies and careers. Access to quality healthcare: The UAE offers a high standard of healthcare, allowing C-level executives and their families access to top-quality medical treatment. High standard of living: With top-notch amenities, infrastructure, and recreational opportunities, Dubai has an excellent standard of living. What Are The Eligibility Criteria For The Dubai Golden Visa For C-Level Executive Managers? The applicant must meet the following standards in order to be qualified for the Dubai Golden Visa as a C-level executive manager: How To Apply For The Dubai Golden Visa For C-Level Executive Managers? For C-level senior managers to apply for a Dubai Golden Visa, the company must start the application procedure on their behalf. The Procedures For Requesting A Golden Visa Are Listed Below: Step 1: Obtain a letter of recommendation from the Dubai Chamber of Commerce and Industry Obtaining a letter of reference from the Dubai Chamber of Commerce and Industry is the first step in the application process. The recommendation letter must attest to the C-level executive manager’s employment with a company that is duly registered and authorized in the UAE and is eligible to sponsor a golden visa. The application form and this letter must be submitted together. Step 2: Submit the application form and required documents to the General Directorate of Residency and Foreigners Affairs (GDRFA) in Dubai The next step is to submit the application form and required documents to the GDRFA in Dubai. The following documents are required for the application: Step 3: Pay the application fee Each candidate must pay AED 2,500 ($680) to apply for a Dubai golden visa for C-level executives. This fee must be paid at the time of application. Step 4: Wait for the application to be processed The GDRFA will process the application when it has received the application form and the requisite documents. The processing period varies, but it usually takes approximately 30 days. During this stage, the GDRFA may seek further papers or information from the company or the C-level executive management. Step 5: Receive the golden visa The C-level executive manager will get the golden visa when the application is granted. This visa is valid for a period of ten years and can be renewed as long as the holder meets the qualifying requirements. The golden visa also permits the claimant to sponsor family members for residency in the UAE. How Can It Be Simplified? Applying for a “golden visa” can be difficult if you do not go through all of the procedures and prospects. A minor mistake could cost you a lot of time. So, it is preferable to seek advice from business consultants in Dubai. Up until you acquire your golden visa, they will help you save time and stress. Marqueway has served as a beacon of hope for many people seeking a golden visa in the UAE. Since the introduction of the golden visa, we have had satisfied clients who are skilled managers, celebrities, and entrepreneurs. So, if you are a C-level manager who still hasn’t been approached for a golden visa in the UAE, now is your time! Have it right away with Marqueway!

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Legal documents that every startup must have while establishing a company setup in Dubai

Essential Legal Documents for Startup Business Setup in Dubai

A company setup in Dubai is one of the finest options for a budding entrepreneur to enter the global market and grow further as a business. It may be both an intimidating and exhilarating experience for all entrepreneurs to take advantage of the numerous prospects that abound in Dubai. This is surely a gem of a destination for everyone, from the captivating lifestyle to heaven in business. Due to the ongoing expansion of Dubai’s business environment, the chances of becoming a successful business owner are rather high these days. The procedure for establishing a business setup in Dubai begins with applying for a license and receiving the necessary legal documentation from the authorities. An ambitious entrepreneur who is completely new to the industry may find this to be difficult. The complete process and the protocols for establishing a business setup in Dubai can be assisted by business setup consultants in Dubai. It’s not as difficult as it appears; all you have to do is take the first step. There are a few aspects to think about before stepping foot in the Dubai business world. In order to ensure a seamless business setup in Dubai, legal processes and documentation must be carefully organized. In this article, we will go through the documentation that you will need to prepare before establishing a company setup in Dubai. Important Legal Documents Every UAE Business Owner Needs When it comes to launching a business setup in Dubai or remaining mindful of necessary renewals and regulatory changes, you’ll need a few pieces of information on hand. Let’s examine a few of them in further detail: 1. Trade License A trade license is the most significant document that a firm requires to function legally. That is just like a person’s birth certificate. When a business is founded in the UAE, it will have comprehensive formal documents that derive the functions and information of the firm, which is a trading license. An organization must have a trade license in order to legally operate and engage in business operations inside the United Arab Emirates (UAE). The Department of Economic Development (DED) in each of the United Arab Emirates’ seven emirates issues this license. A company must fulfill specific DED standards in order to get a trade license. Depending on the kind of commercial business and the Emirate in which the firm conducts business, different regulations apply. In general, a firm must have a physical office in the UAE, a UAE national as a sponsor or partner, and financial viability proof. 2. By-Laws Bylaws are the comprehensive outline of a company’s responsibilities and works that go through the procedure. The by-laws of a firm serve as a model for its governance, outlining the responsibilities, duties, and obligations of people in key positions, such as the board of directors and those with significant control or influence. These roles may fluctuate as the organization grows and evolves, necessitating adjustments to the bylaws. The rules should be precisely specified and executed on a clear and strong chord when it comes to business setup in Dubai. The by-laws should only be subject to amendment by the designated authority, and the name of the authority should be included on the document. The license should also specify any other owners or business partners, including their names, nationalities, shareholdings, and the capital of the firm. A memorandum encompasses corporate governance, shareholder rights and obligations, officers and management, financial reporting and audits, and bylaw modifications. When creating a business setup in Dubai, these essential requirements must be expressly covered in a bylaw. It is crucial to remember that a UAE company’s bylaws must adhere to the rules outlined in the UAE Commercial Companies Law and any other pertinent regulations. Penalties and fines may apply if these rules are not followed. In order to keep the bylaws current and effective, they should also be reviewed frequently and modified as required. 3. Trademark registration certificates Each company should have its own identity, and a trademark is a passport to ensure it. The identification and branding of a firm encompass more than simply the company name; they also include things like slogans, logos, and other components of your brand. A trademark should be used to safeguard this distinctive identification so that it will never be copied or imitated. For any business wishing to safeguard its brand and stop competitors from using identical marks that can confuse customers, trademark registration in Dubai is an essential first step. Federal Law No. 37 of 1992 on Trademarks and Commercial Indications governs the trademark registration procedure in the United Arab Emirates, which is overseen by the Ministry of Economy. The procedures for getting a trademark will be quite complicated if the knowledge is not compacted to its maximum extent. The best course of action is to engage company setup consultants in Dubai to ease the process and accelerate its progression. 4. Immigration Establishment Cards The Immigration Establishment Card (IEC), which is required in the United Arab Emirates (UAE), must be obtained by businesses that wish to sponsor the visas of their international employees. The General Directorate of Residency and Foreigners Affairs (GDRFA) issues the IEC as evidence that the business is permitted to sponsor foreign employees. In order to avoid any fines, the IEC must be renewed before its three-year expiration date. A valid IEC is crucial for businesses since it certifies that they are qualified to sponsor the visas of their international personnel. Fines and other penalties will apply if an IEC is not obtained or renewed. Companies cannot apply for work visas and, therefore, cannot recruit individuals from outside the GCC without the immigration establishment card. It is significant to note that the immigration establishment card has a three-year validity period for mainland enterprises and a one-year validity period for those located in free zones. 5. Non-disclosure Agreement A non-disclosure agreement (NDA) is a contract between two or more parties that tries to safeguard any secret information transferred between them. NDAs are frequently used by businesses

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How to setup a virtual office in Dubai

The conventional methods of establishing a company setup in Dubai have all been rendered obsolete by the business-friendly atmosphere and novel ideas for making the process easier. Dubai continually comes up with some innovative concepts that unquestionably elevate the city to a higher level. Operating a company setup in Dubai has now become the most cost-effective and stress-free approach. Compared to other wealthy nations, Dubai’s company formation procedures are among the most lenient. Previously, people considered Dubai and the UAE as the most expensive places to start a business or relocate. However, as the years went by, they switched from oil production to company setups as their primary source of revenue. In this region of the world, there are many appealing possibilities for your budget and business plans. Now that the door to the world market is wide open, all you have to do is step up. Let us plan it for you Innovations in business setup procedures are constantly taking place in Dubai. The most recent invention to hit the country is virtual offices. Virtual workplaces gained widespread acceptability after the COVID scenario and haven’t looked back since. Setting up a virtual office in Dubai is becoming a popular option for entrepreneurs and enterprises wishing to create a presence in the region without incurring the expense and commitment of acquiring physical office space. This article will discuss what a virtual office is, why opening one in Dubai is advantageous, and the procedures needed to do so. What Is A Virtual Office? Virtual offices do not have a physical address, yet they function as a single entity to provide service for consumers. Startups and small firms who aim to save overhead are especially fond of this sort of arrangement. The development of online office productivity tools and services, such as videoconferencing, has contributed to the expansion of virtual workplaces. Businesses may get a real address and office-related services from a virtual office without incurring the costs of a long lease and administrative employees. Employees may operate remotely with a virtual office while still having access to amenities like a mailing address, phone answering services, online meeting spaces, and videoconferencing. Benefits Of Setting Up A Virtual Office In Dubai 1. The best atmosphere for workers. It’s a welcoming atmosphere for both companies and employees, and it allows them to save time and effort on commuting. And as a result, it assists the city in reducing pollution and traffic, which has further positive effects. On the other side, it is also a supportive environment that aids in stress reduction for your workers and employees. 2. Cost-Effective. Moreover, virtual office leasing in Dubai is regarded as a cost-effective choice for many investors looking to save money. In fact, due to their extremely low cost, even seasoned business owners and investors look forward to hiring virtual offices. As a result, anyone may easily get a place of this kind, but notably new investors and businesses. 3. Explore the benefits of physical offices as well. Although it doesn’t offer actual office space, it may give your company a professional appearance by giving you a business phone number. To appear even more professional, you may also order fax and voicemail services in addition to a phone number. And in other situations, virtual offices may come with services to take care of these aspects for you, enhancing the productivity of your company. 4. Recruit the best employees from across the globe. Also, you may hire bright individuals from all around the world to work for your business. There are no restrictions on your ability to hire foreign workers when you operate remotely utilizing a virtual office. Due of the amenities your workplace offers, you may also give them a flexible schedule and a variety of payment options. 5. Establish a business setup in Dubai without physically being there. For company owners and entrepreneurs looking to create a presence in the area, setting up a virtual office in Dubai is a popular and affordable choice. Without having to pay for actual office space, a virtual office gives companies a distinguished location and additional services like mail forwarding, phone answering, and meeting rooms. We’ll now look at the procedures for setting up a virtual office in Dubai as well as some of the advantages. Let’s take a look at how business setup consultants assist you in having a virtual office. With the assistance of business consultants in Dubai, you can set up a virtual office in a variety of ways. Here are some of the major areas where they may offer essential assistance: Legal and Regulatory Compliance: Business consultants in Dubai may guide you through the legal and governmental procedures for establishing a virtual office there. They can provide you with guidance on the required licenses and permissions you must get as well as the numerous rules you must follow. Banking and Finance: To make sure that your virtual office runs smoothly and effectively, business setup consultants in Dubai may also assist you in setting up bank accounts, managing your funds, and offering financial guidance. In our previous blog, we discussed the procedures for establishing a business setup in Dubai. For more details, contact Marqueway now.

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UAE corporate tax: What you need to know when planning company formation in Dubai

UAE Corporate Tax: A Guide for Your Company Formation in Dubai

The UAE offers regulations that are ideal for company formation in Dubai. These rules have enabled the city to advance in areas that have experienced continual growth and innovation. The majority of the city’s most recent reforms aim to raise living standards and improve quality of life. The city is always open to businessmen who want to begin company formation in Dubai. The tax system was a true blessing for them. However, most recent changes to the tax code have raised the tax rates for bigger businesses. This undoubtedly aids in the rapid development of the entire UAE. On Friday, the United Arab Emirates published its federal corporate tax code, which would impose a top rate of 9 percent on taxable income exceeding DH375,000 ($102,000). A well-established corporation is now required to comply with this requirement due to company formation in Dubai. The company tax rate on taxable profits that fall below the aforementioned level is zero percent. The 56-page regulation, which was posted on the Ministry of Finance website on Friday, states that no corporate tax would be levied on wages or other types of personal income earned via employment, whether in the public, semi-public, or private sectors. As per previously stated regulation at the beginning of this year, businesses will be liable for the UAE corporation tax beginning with their first fiscal year that begins on or after June 1, 2023. What is corporate tax? The cost of corporate tax is deducted from business profits. It is frequently calculated as a percentage of taxable revenue for a company. Corporate tax is a direct tax that is paid by the company on its earnings, as opposed to an indirect tax like VAT that is paid by the final consumer. Who will be affected by the new corporate tax law? Regardless of size or industry, all businesses operating in the UAE will be impacted by the new corporate tax law. Companies do need to be aware of specific exemptions and rules, regardless. What constitutes onshore business? Businesses that transact with an onshore legal entity, an individual, or a legal person, as defined by the decree-law, are considered to have onshore business activities. This is a special warning for the e-commerce industry. There are certain specifically designated industries that are exempt from the tax, but for the most part, the aforementioned is applicable. What about GCC trading? The value-added tax (VAT) law in the United Arab Emirates included three levels of regulation. A GCC framework, federal decree legislation, and executive rules are all in place. There is no hint of a GCC-wide strategy at this time. This implies that doing business with a Saudi corporation, whether onshore or offshore, does not automatically subject the entity to corporate tax. A third layer of executive rules won’t exist either. Alternatively, such information may be provided in a Cabinet decision. Trading inside the GCC is unlikely to be significantly impacted by the UAE’s adoption of corporation tax. It may, however, cause some changes in the area’s economic environment as enterprises examine the impact of the new tax regime on their operations and contemplate relocation or growth possibilities. Exemptions and provisions 1. Small businesses: Companies with an annual turnover of less than Dh3.75 million ($1 million) will be exempt from the corporate tax. 2. Free zone companies: Companies operating in free zones will be exempt from the corporate tax if they do not conduct business outside of the free zone. 3. Special economic zones: Companies operating in special economic zones will be subject to a reduced rate of 3%. 4. Capital gains: Capital gains from the sale of shares, bonds, and other financial instruments will be exempt from the corporate tax. 5. Tax losses: Companies will be allowed to carry forward tax losses for up to five years, which can be used to offset future profits. 6. Transfer pricing: The law includes provisions to prevent transfer pricing, which is the practice of artificially inflating or deflating the price of goods or services in order to reduce tax liabilities. What are the implications of the new corporate tax law for companies operating in the UAE? Company setup in UAE will be significantly impacted by the implementation of the new corporate tax law. You should keep the following consequences in mind as you proceed with company formation in Dubai: The Ministry of Finance’s messaging has been constant. Its goal is to ensure that corporate taxes do not include any surprises. It will display the very finest international standards. It will try to make things less unclear. The procedure will work to make interactions with it as easy and pleasant as possible. Our findings don’t necessarily imply that these are the pressing problems they must resolve. The modifications have already been clearly explained. Small firms are unaffected by any of these effects because they are not subject to corporation tax; only the bigger, more profitable enterprises are. The UAE government actually has a forward-thinking notion with this one. Company formation in Dubai won’t be financially impacted since greater revenues will just need to be aware of this since the tax is solely designed for the country’s continued growth. The finest decision you can still make is to register a company setup in Dubai, so never hold back if that’s what you’re seeking to accomplish. It’s time to follow company formation in Dubai, step up, and work together to ensure compliance with the rules.

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It’s Prime Time to Launch Your Business Setup in Dubai

Dubai, the paradise where business aspirations grow in comparison to every nook and cranny of the planet, comes out with innovations that inspire prospective entrepreneurs to establish business setups in Dubai on a constant basis. In comparison to other places on the globe, Dubai’s infrastructure and way of life are continually being innovated, which is always a positive sign. Expats and businesspeople aim to succeed in Dubai since international markets are drawn to this region of the world. Presently, incredible things are happening in the field of finance. Dubai welcomes individuals looking to start a business or migrate to the city with open arms. Currently, the banking industry is gaining attention for its role in welcoming people to the city. Global citizens and businesspeople prefer opening accounts in Dubai since it’s so much simpler than in other cities. In comparison to other popular ex-pat locations, the absence of a credit history is less of an issue for new residents establishing a business setup in Dubai, UAE. This is supported by a recent HSBC poll that lists the primary factors that influence new expats’ decisions in various global cities. According to a survey conducted by HSBC, 53% of respondents indicated they were “unsettled” after experiencing initial difficulty opening a bank account or enrolling in utility services. 53 percent of respondents claim that these difficulties were caused by a lack of local credit history. Those who want to establish a business setup in Dubai also encounter this hurdle. The UAE scored well in the areas that matter most to ex-pats, according to HSBC, even if migration anywhere else in the world may be difficult logistically, financially, and psychologically. These findings serve as a reminder that assistance is available when relocating overseas, and a bank that knows you when you arrive may make settling in and preparing for a new future both easier and faster. It’s the time to establish your business setup in Dubai Moving and starting a business setup in Dubai has become significantly easier in recent years. For ex-pats moving to many other nations, opening a bank account is not always straightforward. Yet according to the poll, Dubai is unique from other cities in that it welcomes tourists, international investors, and business aficionados. The enhanced quality of living in Dubai also draws personalities from around the world. They don’t just intend to establish a business setup in Dubai; they also aspire to settle down and spend the rest of their lives there. With 36% of respondents citing this as the reason they chose the UAE, lifestyle opportunities play a significant role in the decision to shift cities. yet, classic sources of motivation such as higher salaries (36%), family stability (34%), making money go further (37%), and the prospect of living in a more sustainable environment (30%) played a role in the decisions, according to the HSBC study. It is clear that the UAE is succeeding in luring talent from several outside firms. The local real estate market has clearly been impacted, as seen by the two-year trend of steadily rising sales prices and rental rates. Dubai’s real estate sector has lately seen expansion. The demand for land has driven up the price to an all-time high. Bank Accounts, oh it’s much easier here! In Dubai, creating a bank account has now become simpler thanks to new rules that the government has put in place. These restrictions have lowered the amount of documentation needed and made it easier for business owners to submit the required paperwork. The government has also unveiled a brand-new online application system that enables business owners to register for a bank account from the convenience of their homes or offices. The time and effort required to open a bank account in Dubai has been drastically decreased by the new rules and online platforms. Despite the fact that opening a bank account is a requirement for launching a business, this is a significant milestone for entrepreneurs looking to set up shop in the city. Entrepreneurs may now concentrate on growing their firms without worrying about the administrative barriers that previously existed because of improved access to bank accounts. Also, improved access to bank accounts has made it easier for entrepreneurs to get company finance. For companies that want funding to launch, banks in Dubai provide a range of financing alternatives, including loans, lines of credit, and overdrafts. The government has made it quicker for company owners to register bank accounts, which has also made it easier for them to acquire finance. This can be a game-changer for many entrepreneurs looking to establish a w Dubai has various other advantages for company owners wishing to launch a venture in addition to smoother access to bank accounts. The favorable tax environment is one of the biggest advantages. Dubai is a tax-friendly location for businesses since there is no value-added tax (VAT), corporate income tax, or personal income tax. For companies aiming to reduce operational expenses and increase revenues while creating a successful business setup in Dubai, this may be a huge advantage. Elevate your lifestyle in the Deserts of Dubai Dubai is a city that has captivated the attention of the entire globe with its beautiful architecture, cutting-edge infrastructure, and cosmopolitan way of life. Dubai, which is situated in the midst of the Arabian Desert, has grown from a modest commercial center into one of the most thriving and dynamic cities in the world. Dubai has a lot to offer, whether you’re wanting to establish a business or move for a better lifestyle. Starting a business in Dubai could prove quite profitable. The city has become a center for global trade and commerce because of its advantageous geographic position and business-friendly atmosphere. A variety of business possibilities are available in Dubai, including those in finance, real estate, tourism, and technology. Dubai is a great place for company owners wishing to grow since it has top-notch infrastructure, cutting-edge technology, and a highly qualified workforce. Apart from economic prospects, Dubai has

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