Abu Dhabi is not just a city of opportunity—it’s a meticulously designed business ecosystem that fuels innovation, sustainability, and economic growth. Positioned at the crossroads of global trade, it has rapidly evolved into a top-tier destination for businesses and investors looking to establish and expand in a dynamic, future-ready market. With Vision 2030 at its...
The Federal Tax Authority (FTA) has issued a crucial reminder for natural persons engaged in business or commercial activities in the UAE. If your aggregate business turnover exceeded AED 1 million during the last financial year, it is mandatory to register for Corporate Tax no later than March 31, 2025.Failure to comply with this requirement...
The Federal Tax Authority (FTA) has recently published a public clarification document offering guidance on the Value Added Tax (VAT) implications of cryptocurrency mining activities employing the proof-of-work mechanism within the UAE. This clarification is of significant importance to businesses operating in the cryptocurrency sector. Key Takeaways The FTA’s clarification distinguishes between two scenarios: mining...
Detailed Information For more information, visit Taxation and Taxes in the UAE or consult with a tax expert.
The Abu Dhabi Global Market (ADGM), the UAE capital’s premier international financial center, has unveiled a new fee schedule for commercial licenses, effective 1st January 2025. This update introduces significant reductions, particularly benefiting non-financial and retail businesses, with some fees slashed by 50% or more, along with other incentives. Fee Reductions by Category Non-Financial Category ...
This Article is part of our article on the Expansion of Al Reem Island of ADGM. This Article focuses more on the regulatory frameworks and legal arenas during and post the transition from Abu Dhabi Mainland to Al Reem Island. The major shift that the business will face during or post the transition is the...
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 concept of dual licensing in the UAE has emerged as a significant development in the United Arab Emirates business landscape, offering companies unprecedented flexibility and market access. This legal framework allows businesses to operate simultaneously in the mainland and free zones, bridging the gap between these distinct jurisdictions. Understanding Dual Licensing in the UAE...
The expansion of the Abu Dhabi Global Market (ADGM) to Al Reem Island marks a pivotal shift in the UAE’s regulatory landscape. Under the UAE Cabinet Resolution No. 41 of 2023, ADGM’s jurisdiction has extended beyond Al Maryah Island, bringing Al Reem Island under its common law system. This transformation, effective since April 2023, replaces...
Bankruptcy and insolvency are challenging realities that carry profound implications for businesses, affecting everything from operations and leadership to market perception and legal standing. This article examines the far-reaching consequences of bankruptcy, offering insights into its impact on organizations and their leadership. This article complements our foundational article on UAE bankruptcy law. Loss of Control...
