Uae

In its bold journey toward Vision 2030, Saudi Arabia is preparing for a series of transformative events and projects that promise to redefine its economy and private sector. The Kingdom is not only set to host major global events like Expo 2030 and FIFA 2034 but is also advancing colossal developments such as NEOM and the Red Sea Project. Saudi Arabia's economy has seen steady and significant growth trajectory since the inception of the Saudi Vision 2030 initiative. This article is a closer look at these key projects and events, their progress and the potential they hold for investment. Read more

Banks in the UAE have stringent regulatory and compliance requirements, which can make the corporate bank account opening process time-consuming and complex. In addition to meeting the bank’s minimum deposit requirements, the documentation needed is often extensive and varies depending on the company’s structure, the industry, and the bank’s specific requirements. For companies with complicated structures (e.g., multiple shareholders, subsidiaries, or holding companies), the process becomes even more intricate. This article looks at the requirements for opening a corporate bank account in the UAE, which includes identifying the corporate structure to determine the necessary process. Read more

The increasing demand for sustainable, locally sourced produce is driving rapid growth in the vertical farming market. The Middle East and North Africa, particularly the UAE and Saudi Arabia as the largest food importers in the GCC, have vast potential for vertical farming. With significant government support, tailored subsidies and the availability of strategic public-private partnerships, there is a lucrative opportunity for entrepreneurs to capitalise on this growing market. This article looks at the practical steps and considerations for setting up a successful vertical farming business in the UAE. Read more

The Dubai International Financial Centre (DIFC), centrally located in Dubai, is the leading financial hub in the Middle East, providing investors and businesses with access to the United Arab Emirates’ (UAE) vibrant and opportunistic market. Setting up investment funds in Dubai offers a range of benefits to investors and fund managers. This article provides an overview of setting up an investment fund in DIFC, outlining the key benefits and different fund types available. Read more

The Dubai International Financial Centre (DIFC) and the Abu Dhabi Global Market (ADGM) are two major financial free zones in the United Arab Emirates (UAE), each with its own unique regulatory framework and legal systems based on English Common Law. There are many initiatives and projects underway to simulate growth for the financial centres. DIFC and ADGM’s expanding influence is shaping the future of finance in the UAE. The international financial centres are setting the standard and boosting the UAE’s status as a preferred ecosystem for innovation and growth. We anticipate this growth will continue to increase for the IFC’s as they develop and implement further initiatives and support for business setup in the region. Read more

The employer-employee relationship is typically outlined before the beginning of employment. This distinction is set in both the offer letter and employment contract. These documents highlight the terms of employment and establish the relationship between the employer and the employee. In the UAE comprehensive offer letters and employment contracts are crucial for setting out the terms of the employment and ensuring that they cover the business from all compliance and legal aspects. Read more

Qatar has recently made significant reductions to many government fees in relation to business establishments in the country. These updates, similar to recent amendments to the Cultural and Media Sector in the country, have seen some fees experience reductions of over 90%. With the new capital requirement aimed at incentivising and encouraging entrepreneurs and businesses to setup in Qatar and attracting an influx of investments into varying business sectors. These reductions extend to renewals, including commercial registration renewal fees being significantly lowered. Read more

Aligning with the UAE’s Vision 2030, Emiratisation is a crucial component in achieving the UAE’s national development and economic diversification goals. By ensuring participation of the local Emirati workforce, the UAE aims to achieve long-term economic sustainability and resilience. So, what does that mean for your business? It’s an opportunity to allow further cultural integration within your workforce. The principals of Emiratisation encourage an environment that respects and integrates local cultural values. Adhering to Emiratisation targets is not only a legal obligation, but also a strategic advantage, if engaged correctly. It opens businesses up to a whole other skilled workforce. Read more

The Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defence, Sheikh Hamdan bin Mohammad has launched a 105 million Dirham Mental Health Plan to assist UAE resident in coping with day-to-day life. The scheme falls into the scope of the Dubai Social Agenda 33, which aims to make Dubai the best place to live and work. The new Mental Health framework will launch early detection and support programmes to be able to identify signs of mental health struggles among UAE residents. With that in mind, it is important for companies to look internally at how and what they are doing to support employee well-being in the workplace. A stressed-out workforce is not a productive one. Make your workplace, work for your employees. We explore how a company can create a supportive environment where employee well-being matters and how best to implement these initiatives, benefits, and policies. Read more

In the United Arab Emirates (UAE), a relatively new saving plan for employees in both private and freezone sectors is available, through which workers can invest their end-of-service benefits (EOSB) in order to accrue long-term savings. This untapped opportunity offers benefits to employers and their employees alike, with no minimum salary requirement any company or worker in the UAE can start making more from their end of service. The initiative is expected to improve private sector competitiveness and attract more talent into the region. This article outlines how savings are possible with the end of service benefit scheme, and the associated benefits of the plan. Read more