In alignment with global tax reforms spearheaded by the Organisation for Economic Co-operation and Development (OECD), the UAE is set to introduce a 15% Domestic Minimum Top-up Tax (DMTT) on large multinational companies. This will be implemented from 1st January 2025. This move forms part of the UAE’s adoption of the Global Minimum Tax (Pillar...
The ADGM Arbitration Centre had introduced an innovative “Mediation in the Metaverse” initiative in 2023, which is designed to transform the global mediation landscape. Utilizing cutting-edge Web3 technology, this initiative offers a virtual counterpart to ADGM’s advanced arbitration and mediation facilities. By enabling participants to conduct mediation sessions through video from any location via desktop...
In the UAE, business activities are broadly classified into two categories: Regulated and Unregulated. Regulated activities are those that require additional approvals from government authorities or regulatory bodies. Examples include financial services, healthcare, education, and legal services. Unregulated activities do not require any special regulatory approval apart from the standard business licensing process. These typically...
From 1st July 2024, all licensed economic establishments must adhere to its new requirements when engaging social media influencers for advertising and for advertising on social media platforms and websites. Effective 1st July 2024, the Abu Dhabi Department of Economic Development (ADDED) has mandated that all licensed economic establishments must adhere to its new requirements...
In a recent development, three prominent real estate developers in Dubai have been fined AED 500,000 each for violating the emirate’s stringent real estate escrow law. This significant enforcement action underscores the importance of compliance with regulations designed to protect investors and maintain the integrity of the real estate market. The authorities have not called...
UAE introduces Blue Visa and Gaming Visa addressing specific sectors with significant growth potential and opening substantial business opportunities. Sheikh Mohammed bin Rashid approves 10-year Blue Residency visa for environment champions https://t.co/7WKtLjJMBi pic.twitter.com/8Kkv47Pxqu — UAE News (@UAENews) May 15, 2024 The United Arab Emirates (UAE) has introduced the Blue Visa, the latest in a series...
