Dubai SME payment acceleration will bolster business and economy

The government of Dubai has announced plans to shorten payment cycles to small and medium sized enterprises (SMEs) operating in Dubai in a move that experts say will help boost the liquidity and economic activity in the emirate. According to UAE’s state-run WAM news agency, Dubai plans to expedite government payments to small and medium-sized companies. The government will pay SMEs within 30 days instead of 90 days. According to the report, this measure will result in approximately Dh1.6 billion ($435 [...]

ICO Regulations in the UAE in 2019 Focus on Security and Innovation

The Securities and Commodities Authority (SCA), the United Arab Emirates (UAE) financial regulator, is set to introduce regulations for initial coin offering (ICO) in the country by the end of the first half of 2019; a move intended to provide companies another way to raise capital through crowd funding. What are ICOs? ICOs are the cryptocurrency version of an initial public offering, where companies go public and sell shares to individual investors. With ICOs, investors buy units of a cryptocurrency and [...]

100% ownership is possible in Mainland professional company

Local ownership restrictions for a long time have been the number one issue that leaves foreign entrepreneurs in UAE scratching their heads. Traditionally 100% foreign ownership was only possible under two circumstances. First when setting up in a UAE free zone or second when establishing professional services company. But that’s not the case anymore. A law allowing 100% foreign ownership of companies in the UAE was announced in 2018 and is now in force. Previously oversees entrepreneurs wishing to setup [...]

Dubai’s new incentives package includes five initiatives to support SMEs

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai directed the government to focus on simplifying the procedures of conducting business in Dubai and reduce the costs for companies by utilizing all the possible resources, in order to facilitate the economic accomplishments. Under this directive, emirates department of finance rolled out five initiatives with the objective to support small and medium sized enterprises (SMEs) and public private partnerships (PPP). According to [...]

UAE Quickly Emerging As a Preferred Investment Destination

Is it your turn to consider investing in UAE? UAE, home to the tallest, largest and the iconic projects, an inspiration for life and lifestyles, an investment destination that is unparalleled to anywhere in the world and a place that many call their home; take a look at the top reasons why investors choose UAE over other countries. 1. UAE is a very rich country First of all, UAE is one of the richest countries in the world. According to Fortune 2017 [...]

Get up to 100% discount on Dubai traffic fines

Thanks to a new initiative from Dubai Police, Dubai motorists can get up to 100% discount on accumulated Dubai traffic fines. On 15 December, 2018 H. H. Sheikh Mohammad bin Zayed Al Nahyan, Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces, declared 2019 as the Year of Tolerance. The purpose is to highlight the UAE as a global capital for tolerance and its approach, since its creation, to be a bridge of communication between [...]

Why should someone apply for a general trading license in Dubai for a business setup?

Dubai is the commercial and business center of Middle East. Today there is no income tax, no corporate tax, great infrastructure, easiness and transparency of doing business, innovation in the form of smart services and high standard of living in the UAE.Due to favorable business environment and continuous support from UAE government in the form of simple and quick business registration Dubai procedure, ease of auditing and accounting procedures and help in each step of the way during business [...]

UAE boosting financial inclusion for SMEs

Small and medium sized enterprises, SME, are defined as enterprises that are made up of under 250 employees. These small and medium sized enterprises are said to make up 47% of the economy of UAE. More than half of the workforce in UAE works for SME.As Dubai is known as the most active business hub around the world where finance for new businesses in UAE is always available, it appeals more to foreign investors. With an increase in finance [...]

Unexpected Business expenses to plan for in 2019

Whether you are starting a business in Dubai or growing a company, it is important for you to do financial planning wisely to ensure long-term security. When planning your budget, you should also consider unexpected costs associated with running a business. As a quick reminder, we have listed down 5 hidden costs of running a business in Dubai. 1. Freelancer/ Contractors/ Professional Fees You cannot be an expert in every aspect of running a business. There are tools which come in [...]

Why it's the best time to move to Dubai in 2019

Why it’s the best time to move to Dubai in 2019? Fall in inflation, stronger dirham & substantial increase in purchasing power of residents

If you have not considered or mulling over the idea of moving to Dubai, let us tell you that 2019 is the best time for you to move in Dubai. Dubai is amongst the fastest growing cities in the world that offers lots of opportunities for business and employment. Also Read: How UAE is Planning to Steer its Development with these Pioneering Strategies Let’s look at the reasons how moving to Dubai will benefit your personal life. Dubai Is Affordable According to the [...]

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