Author name: RP112

Following amendments to Labour Law which came into effect from 1st February 2022, there are now 12 different types of work permits in the United Arab Emirates. ‍ Temporary work permit: This allows employers to hire employees for a project or for work that lasts a fixed period of time. One-mission permit: This allows employers […]

The Executive Office for Anti-Money Laundering and Counter Terrorism Finance has confirmed that hundreds of cases are being actively pursued by prosecutors in the United Arab Emirates. Releasing details of recent prosecutions and the deportations of suspects, the Executive Office for Anti-Money Laundering and Counter Terrorism Finance said that it had confiscated more than AED

The Ministry of Human Resources and Emiratisation (MoHRE) has announced that working hours shall be curtailed by two hours each day during the holy month of Ramadan. This is in accordance with Article 15 (2) of the Cabinet Resolution No. 1 of 2022 on Employment Relations, which explicitly states that normal working hours are to

Mashreq Bank’s Supplier Finance initiative leverages the credit worthiness of large buyers to provide early payment to small suppliers, thus reducing the overall cost of financing the supply chain. ‍Small and medium-sized enterprises comprise 97% of all businesses in the Arab world, according to data published by the World Bank. They also employ half the

As of 2nd January 2022, issuing a cheque that bounces is no longer a criminal offence in the United Arab Emirates. However, it could still affect your credit score and impact your ability to secure lines of credit, according to the Al Etihad Credit Bureau. Marwan Ahmed Lutfi, the Chief Executive Officer of Al Etihad

The Abu Dhabi-based Emirates Development Bank has signed an agreement with Dubai Islamic Bank, the largest Sharia-compliant lender in the United Arab Emirates, to disburse AED 200 million (about $54.4 million) to small and medium-sized enterprises in the country. The focus will be on SMEs in priority sectors, as well as businesses and startups that

As of 26th February 2022, people are no longer required to wear a face mask in public, according to an announcement made by the National Emergency Crisis and Disasters Management Authority. The use of face masks when outdoors has been made optional. However, people are still required to wear a face mask in closed, indoor

On 31 January 2022, the Ministry of Finance (MoF) announced that the United Arab Emirates (UAE) will introduce a federal Corporate Tax (CT) on business profits that will be effective for financial years starting on or after 1 June 2023. ‍The UAE Corporate Tax regime has been designed to incorporate best practices globally and minimize

      Corporate Tax in the UAE: All Your Questions Answered   February 23, 2022    From 1st June 2023, a Corporate Tax of 9% will be applicable on all profits above AED 375,000 in the United Arab Emirates From 1stJune 2023, a Corporate Tax of 9% will be applicable on all profits above AED375,000

Freelancers who are active in the fields of media, art, culture, education, technology, and consulting can now avail of a Talent Pass from the Dubai Airport Free Zone. This is a business license with which one can legally work anywhere in the United Arab Emirates and be eligible for a residence visa. The Talent Pass