PRO Partner Group Blog

Holding companies are legal entities that incorporate subsidiary business entities. Whilst not authorised for standalone commercial activities like producing goods or providing services, holding companies are ideal for shareholding, trademark and patent ownership or purchasing real estate. Under UAE law holding companies have only a supervisory structure with no active management within subsidiaries i.e. they can own shares and implement processes for running operations and can benefit from assets transactions, services supply and dividends. Depending on their structure, holding companies can appoint a director or a board of directors to supervise subsidiaries operations, set out regulations and control the flow of money to and from subsidiaries. Read more

Setting up an online business in Dubai can be financially lucrative if done right. Dubai is increasingly becoming a hub for online businesses and e-commerce. In a recent joint study published by Dubai Economy and VISA; e-commerce transactions reached $16 billion in 2019 and is forecasted to soar with an average 23% annual growth rate up to 2022. Read more

In order to manufacture, import, advertise or sell cosmetic and consumer products in Dubai the products must first be registered with Dubai Municipality (DM) at the Consumer Products Safety Section (CPSS). To register the products with DM the company must first be set up and correctly licenced and itself registered with DM. In this article we go through the steps, requirements, applications, timelines, and costs to undertake company registration with Dubai Municipality and individual product registration processes. Read more

Setting up your company in a Free Zone in the UAE has many significant advantages. For certain industries, specific Free Zones operate. These industry-specific Free Zones allow companies to stay close to their market, act as a focal point for prospective customers and offer industry-specific benefits. Whilst setting up in a Free Zone can be straight forward, there are often unexpected costs that need to be considered. In this post, we’ll explore all of the key things to look out for when selecting a Free Zone. Read more

The Al-Ula Declaration, signed on Tuesday 5th January 2021, ends the Qatar boycott with Kingdom of Saudi Arabia, the United Arab Emirates, Bahrain, the rest of the Gulf Cooperation Council member states and Egypt. The GCC countries and Egypt signed the declaration at the 41st GCC Summit held in the city of Al-Ula in Saudi Arabia. The declaration now opens the way for the re-establishment of political and economic ties with Qatar. Read more

Following the recent announcement of changes to foreign ownership restrictions on companies in the UAE, Federal Decree-Law no. (26) of 2020 amending some provisions of the Federal Law No. (2) of 2015 on Commercial Companies has been published (Amendment). While much of the detail of the changes to foreign ownership remain subject to further government announcements, the Amendment paves the way towards the gradual loosening of foreign ownership restrictions in UAE, in keeping with trends across the GCC. Read more

In August 2020, the UAE Cabinet issued updated economic substance regulations which revoked and replaced the previous economic substance regulations introduced in 2019. The new ESR is accompanied by updated guidance on the application and interpretation of the new ESR and notice regarding the deadline for submission of notification and reporting under the new ESR. Read more

Sovereign PPG Corporate Structuring Manager Greg Hastings speaks to Dubai Eye about the new UAE 100% foreign ownership update and how the update in the law is going to change doing business within the UAE, what the transition phase looks like and what steps companies can take to take advantage of this new law. Read more

The Abu Dhabi Department of Economic Development (ADDED) has announced the introduction of a new freelancer licence which covers 63 different business activities and allows the holder to carry out their business activity from their place of residence or any other authorised location. It is available to UAE citizens, residents and non-residents alike and it is hoped that it will be a stimulus for growth of the business sector and investment in the Emirate. This article explains the benefits of the new licence, who is eligible to apply for it and how you to set up a freelancer licence and obtain a resident visa as a freelancer and sponsor family members using this platform. Read more

Dubai International Financial Centre (DIFC) is an international financial centre at the forefront of business, financial technology and lifestyle in the UAE. Established in 2004, it has grown to become one of the top 10 financial centres in the world. It has recently introduced a tech start-up licence with numerous incentives, for unique and innovative businesses that are embracing technology as a means to serve their customers and carry out their business activities. Read more