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Economic Substance Regulations & Beneficial Owner (UBO) Procedures & Deadline – FAQs

Economic Substance Regulations & Beneficial Owner (UBO) Procedures & Deadline - FAQsBackground Under the enactment of two pieces of legislation affecting Mainland and Free Zone entities registered in the UAE: Cabinet Resolution No. (58) of 2020...

Beneficial Owner (UBO) procedures and compliance – Compliance Alert UAE Cabinet Decision No: (58) of 24 August 2020

Beneficial Owner (UBO) procedures and compliance- Compliance Alert UAE Cabinet Decision No: (58) of 24 August 2020 Background The UAE Ministry of Economy has enacted Cabinet Resolution No. (58) of 2020 regulating Beneficial Owner Procedures (the “Resolution”)...

Integrating Shopify or WooCommerce Your E-Commerce to other Inventory & Accounting Software?

Integrating Shopify or WooCommerce Your E-Commerce to other Inventory & Accounting Software?Background Due to the current COVID-19 pandemic, the way we operate and view businesses especially those in the retail sector has taken a shift. We have already seen...

Important Amendments to UAE Economic Substance Regulations

Important Amendments to UAE Economic Substance Regulations Background On 10 August 2020, the UAE Cabinet of Ministers issued Cabinet Resolution No. 57 of 2020 (the “amended ES Regulations”) which replaces the original ES Regulations, along with updated...

Dubai Future Foundation- Plans for Entrepreneurs

Dubai Future Foundation- Plans for EntrepreneursCovid has globally changed the way world operates. Businesses have faced lots of challenges and it has changed the way people conduct business. Adaptability is the only solution be it personal or professional. UAE has...

VAT Obligations for Freelancers

VAT Obligations for Freelancers Operating as a freelancer in the UAE has become much easier during the last few years. The UAE has introduced several initiatives to allow individuals to commercially operate with a range of business license options that reduce...