Abu Dhabi

When initially starting a new business venture, a sole establishment (also known as a sole proprietorship) is one of the quickest and cost-effective ways for setting up a company in Dubai. It’s the simplest form of business structure, has no complex registration or incorporation procedures, has low start-up costs and allows for complete control over all aspects of the business. However, as the business grows and becomes more complex, the owner may want to consider other business structures that offer greater protection and advantages, such as a limited liability company (LLC). This article looks at the main reasons for converting from sole establishment to an LLC and the steps involved. Read more

In today's competitive market, setting and managing prices for services can be a challenging task for business owners. To address this issue, a comprehensive Price Evaluation System has been developed by the Ministry of Commerce and Industry (MOCI) in Qatar. Businesses who are in the defined targeted service sectors will need to register their price lists through the Price Evaluation and follow-up system to comply with the local regulations. The Price Evaluation and follow-up system aims to simplify the process of registering, modifying, and controlling prices. By implementing this system, business owners can ensure transparency, accuracy, and fairness in their pricing strategies. Read more

Dubai's real estate market is one of the most dynamic and lucrative in the world. The city's strategic location, excellent infrastructure, business-friendly environment, and cosmopolitan culture have made it a highly attractive destination for foreign investment and tourism. Over the past decade, the real estate market in the emirate has experienced significant growth, with a surge in construction activity and the development of several ambitious mega-projects, and despite the economic downturn caused by Covid-19, the UAE has remained remarkably resilient and has continued to expand, with the government implementing various policies and initiatives to support growth and attract investors. This article provides more information on property ownership in Dubai through corporate structures and the types of properties and areas in which foreign investors are eligible to purchase. Read more

UAE businesses both onshore and in freezones are required to have a general manager (GM) as per the laws and regulations of the country. The general manager is responsible for overseeing the day-to-day operations of the business and ensuring that it operates in compliance with the laws and regulations of the UAE. Sovereign PPG offer a temporary/interim general manager service to assist clients fulfil the requirements to complete the corporation process. To fully incorporate an entity in the UAE there are some instances where the GM would need to be present in the UAE or hold a UAE resident visa. It is not always possible that the chosen candidate for GM fulfils these requirements. In this instance, a temporary GM can be appointed to bridge the gap and allow the company incorporation process to proceed without delay. This article provides insight into the process of changing general manager in a UAE business, the document changes required for the new general manager to be appointed including commercial licence, directors’ resolution, and Memorandum of Association (MOA). Read more

A certificate of origin is a document which provides information about the origin of the goods being exported including the place of production and country of origin. This document is used for international trade to authenticate the c origin of the exported goods. This article looks at the key steps and conditions for obtaining a Certificate of Origin in the UAE with the Dubai Chamber of Commerce and Abu Dhabi Chamber of Commerce. Read more

The Economic Substance Regulations (ESR) were introduced in the United Arab Emirates (UAE) in April 2019 to comply with the Organisation for Economic Co-operation and Development (OECD) Base Erosion and Profit Shifting (BEPS) initiative. The ESR in the UAE require certain companies to demonstrate that they have a substantial economic presence within the UAE, and that they are conducting real business activities rather than just being used as a vehicle for tax evasion or avoidance. Under the ESR in Dubai, Abu Dhabi and the wider UAE, companies are required to submit annual notifications and economic substance reports to the relevant regulatory authority. This article provides more information on the scope of the regulations as well as addressing some of the most likely questions arising from them. Read more

Back-office operations refer to the administrative and support functions of a business that are necessary for its smooth operation but are not directly involved in generating revenue or interacting with customers. These operations typically include tasks such as accounting, finance, human resources, information technology, data entry, record keeping, and other administrative functions. Back-office operations are critical to the success of a business, as they provide the support necessary to keep a business running productively and efficiently and help to create a solid foundation for growth and profitability. This article looks at the types of back-office operations that are typically outsourced such as PRO services, HR services, Accounting & Bookkeeping and how doing so can benefit your business. Read more

The National News: UAE to offer corporate tax relief to small businesses earning $816,880 or less Read more

Emiratisation refers to a set of policies and initiatives in the United Arab Emirates (UAE) that aim to increase the participation of Emirati nationals in the country's workforce and reduce the country's reliance on expatriate labour. The Emiratisation programme was first launched in 1998 by the UAE government, in response to concerns about the low level of participation of Emiratis in the private sector. It addresses these issues through a quota system that that ensures companies hire a minimum percentage of Emirati nationals relative to the number of employees that the company has. The Ministry of Human Resources and Emiratisation MOHRE) recently released amendments to company’s quota obligations, which took effect from 1 January 2023. This article provides information on the latest updates and guidance on how to determine your company’s quota requirements and how to register on the programme. Read more

Like other Middle Eastern countries, the UAE relies on the principles of Sharia Law to guide and dictate many government policies, laws, and regulations. For expats this can have major implications on certain areas of life. Within Sharia Law are provisions that address how one’s assets should be distributed upon their death in the form of an inheritance. Until recently, these inheritance laws applied to everyone including expats, Muslim and non-Muslim alike. In November 2020, President Sheikh Khalifa Bin Zayed Al Nahyan introduced changes to existing inheritance laws (Article 1 of Law No. 30 of 2020) that allow expats to better decide how their assets should be handled after their death. This article examines how expats can register a will in DIFC to ensure their assets are distributed according to their wishes. Read more