Insight Category: News
Partner and Head of Tax, Shamma Al Falahi recently spoke with Finance Middle East regarding the tax landscape in the UAE. The introduction of corporate tax in the United Arab Emirates (UAE) marks a significant shift in the region’s tax landscape. The Corporate Tax Law, effective for financial years starting on or after June 1,… Continue reading Essential insights for businesses on UAE’s corporate tax implementation...
Corporate lawyers Michael Kortbawi and Mahmoud Kreidie recently spoke with Al Arabiya News on the increase of scams in the UAE, and how residents can stay vigilant. Certainly, the rise in scams, particularly during the year-end holidays, has become a growing concern with cyber-criminals utilizing increasingly sophisticated methods to deceive individuals and companies in the… Continue reading UAE residents urged to be vigilant against new wave of ‘sophisticated’ scams...
With soaring property prices, timeshares could become an attractive affordable option for a luxury holiday home in Dubai, as such Derek Robins recently spoke with Arabian Business regarding timeshare regulations and protection for buyers. Key timeshare regulations to know Only properties classified as four or five-star hotels or luxury apartments may be used as timeshares.… Continue reading Dubai real estate: Should you buy a timeshare?...
The UAE has established itself as a global business hub, attracting investors and corporations worldwide. A critical component of its appeal has been the differential treatment of businesses in free zones compared to those on the mainland, especially concerning tax. Yet, introducing new corporate tax laws is reshaping this landscape and making the discussion on… Continue reading How will corporate tax changes affect businesses in UAE free zones vs mainland entities...
The UAE legislator has approved cheques, as a mechanism to provide exceptional protection which other commercial tools do not benefit from. However, it comes with strict conditions, in order to preserve its value and importance as a payment mechanism. For this reason, the UAE legislator stipulated in the Federal Commercial Transactions Law that a returned… Continue reading From conflict to consensus: Bounced and returned cheque as a direct execution deed due to bank account’s closure...
This article analyses the recent decision of the Dubai Court of Cassation in case No. 1406 of 2023, Commercial Appeal, which confirmed the decision of the Dubai Court of Appeal in setting aside an arbitral award because the Arbitral Tribunal appointed expert was not administered an oath. Facts The parties had referred their dispute to… Continue reading Tribunal appointed experts are required to take the oath...
The Federal Decree-Law No. 30 of 2021 on Combating Narcotic Drugs in the UAE introduced Article 96, which deals with the importation of narcotics and psychotropic substances into the UAE, and the exceptions of absolving the act as a non-punishable offense under the law. Since the article was implemented, it has become evident that the… Continue reading Practical implementation of Article 96 of the UAE’s Anti-Narcotic and Psychotropic Substances Law...
The UAE has recently introduced the corporate tax law, reshaping the nation’s fiscal landscape. This comprehensive article focuses on free zone persons—juridical entities within free zones—and explores the conditions that grant exemptions from corporate tax. The corporate tax law seeks to achieve a balance between encouraging economic activity and ensuring a just tax environment, urging… Continue reading UAE corporate tax: Who is considered a qualifying free zone person?...
In a significant development, His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Chairman of the Dubai Integrated Economic Zones Authority (“DIEZ”), has greenlit the authority’s strategic plan for 2024-2026. This visionary strategy is poised to fortify Dubai’s position as a premier global investment destination across diverse sectors, aligning with the emirate’s strategic priorities.… Continue reading Dubai Integrated Economic Zones Authority (DIEZ) Unveils Visionary Strategy for 2024-2026...
What is the new rule and how is it different from the earlier rule?The new rule in the UAE regarding the golden visa through real estate investment involves the removal of the AED1 million ($272,294) minimum downpayment requirement. Previously, in order to qualify for the 10-year renewable residency scheme introduced in 2019, investors were required… Continue reading UAE Golden Visa: Dubai makes major change to property down payment requirement...