AML (Anti-money laundering)
Anti-money laundering Anti-money laundering (AML) efforts consist of the laws, regulations and procedures, which are designed to prevent criminals from exchanging money obtained through illegal activities—i.e. “dirty money”—into legitimate income, or “clean money.” Combatting money laundering The Decree-Law defines a perpetrator of a money-laundering offence as any person who is…
Read MoreGlobal tax deal to hurt Indians who moved trusts to the UAE
After all major countries including the UAE signed OECD's global tax deal, the fear is that the country will introduce corporate tax of at least 15% across the board that will even apply to income of holding trusts and entities. Many Indian families had moved their holding companies and trusts to Dubai in the last…
Read MoreFacets To Learn Before Setting Up A Business
A business setup is not an easy task. It takes a lot of effort and time to set up a business successfully. A lot of factors have to be taken care of for the same. One has to think about the budget, resources, risks of all kinds, and much more. Learning about factors related to…
Read MoreNuevas reglas de Inversión Extranjera Directa LLCs (Decreto Ley Federal No. 26 de 2020)
A partir del 1 de junio de 2021, las LLCs incorporadas o por incorporar en Emiratos, en la mayoría de los casos, ya no necesitaran un accionista mayoritario emiratí. Esto significa que los inversores extranjeros pueden tener el 100% de las acciones en las LLC del continente a menos que la LLC lleve a cabo…
Read MoreNew rules of Foreign Direct Investment LLCs (Federal Law Decree No. 26 of 2020)
As of June 1, 2021, LLCs incorporated or to be incorporated in Emirates, in most cases, will no longer need an Emirati majority shareholder. This means that foreign investors can own 100% of the shares in the mainland LLCs unless the LLC carries out certain restricted activities called “strategic importance”. Below you can find the…
Read MoreDubai Economy insta a las empresas registradas a proporcionar datos del propietario beneficiario
DUBAI, 2 de junio de 2021 (WAM) - Dubai Economy ha pedido a todos los propietarios de negocios en el emirato que proporcionen los datos de sus beneficiarios para que se agreguen al registro comercial como lo requiere la Decisión del Gabinete de los EAU No. (58) de 2020. Los representantes legales de una empresa…
Read MoreDubai Economy urges registered businesses to provide Beneficial Owner data
DUBAI, 2nd June, 2021 (WAM) -- Dubai Economy has called on all business owners in the emirate to provide their Beneficial Owner data to be added in the commercial registry as required by the UAE Cabinet Decision No. (58) of 2020. The legal representatives of a registered business in Dubai can visit the eServices page…
Read MoreImplementación práctica de nuevas reglas de Inversión Extranjera Directa para LLCs (Decreto Ley Federal No. 26 de 2020)
Después del seguimiento sobre la “Implementación Práctica del Decreto Ley Federal No. 26 de 2020 para Sucursales de Empresas Extranjeras” de 22 de abril de 2021, en los últimos días se ha anunciado que a partir del 1 de junio de 2021 las restricciones a la inversión extranjera con respecto a las sociedades de responsabilidad…
Read MorePractical implementation of new Foreign Direct Investment rules for LLCs (Federal Decree-Law No. 26 of 2020)
After the follow-up on the “Practical Implementation of Federal Decree Law No. 26 of 2020 for Branches of Foreign Companies” of April 22, 2021, in recent days it has been announced that as of June 1, 2021 the restrictions on the Foreign investment with respect to limited liability companies ("LLCs") will be largely eliminated. This…
Read MoreIntroduccion Sobre el VAT en UAE
El pasado 27 de agosto de 2017 se publicó la ley federal para regular el Impuesto sobre el Valor Añadido (VAT, en inglés) en Emiratos Árabes Unidos. Esta ley viene a establecer las bases para la introducción del impuesto en el país. La aplicación del IVA en Emiratos Árabes Unidos se hizo efectiva el 1…
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