Uae

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

A guide to VAT Law in the UAE, the scope of the law and companies’ responsibilities with respect to compliance and how to register for VAT. Read more

People migrate to new countries for a multitude of reasons: better career prospects, improved safety and security, education opportunities, financial incentives and a more favourable climate are just a few of them. There are currently over 56.8 million expatriates living around the world and this number is expected to continue growing. The UAE’s residency programmes have helped the country’s economy benefit from an influx of foreign capital and for the recipients of the visas, they can be an amazing tax savings tool. However, if you want to obtain tax residency in the UAE and benefit from the country’s tax landscape, it’s important that you also free yourself from your tax obligations in your home country. Read more

Who is a natural or juridical tax resident? According to Libbie Burtinshaw, Head of Operations at Sovereign PPG, the Domestic Tax Residency regulation defines a UAE tax resident as either a natural person or a juridical person. A natural person is defined as an individual with a permanent place of residence in the UAE, or one that is employed, or has a business in, the UAE. It also refers to individuals who: have spent 183 days or more in the UAE over a consecutive 12-month period primarily reside in the UAE are based out of the UAE for financial and personal interest. =UAE nationals, valid Permanent Resident Permit holders, or GCC member of state nationalities must be physically present for 90 days, or more, over a 12-month period. A juridical person refers to a business or entity which is legally separated from its owners. Tax residency applies to businesses or entities established or recognised in the UAE. Read more

For employees, losing a source of income can be terrifying, especially for expat workers in a foreign country. Without a way to make money, it’s easy to fall behind on bills or take on unnecessary debt. For this reason, many industrialised countries have created policies and programmes to ensure workers are protected if they become unemployed through no fault of their own. Beginning this year, the UAE will join over 70 other countries that offer some form of unemployment insurance protection. This article explains everything you need to know to prepare for the upcoming implementation of the UAE’s new unemployment insurance scheme. Read more