Anyone living, working, investing and earning income in the United Arab Emirates (UAE) or in other countries far from home would probably be reluctant to pay in their home state – and thus pay double tax on their income. For this reason, many states have concluded double taxation agreements (DTAs) with each other over the …
UAE Double Taxation Treaties About to be Amended Read More »
Dear Friends and Clients, This summer newsletter summarizes the essential information of the last 3 months. There is not much happening in Arabia in the summer heat – at least as far as business is concerned. So we did not want to bore you and therefore are publishing this newsletter for a 3-month- period. This …
Dear Friends and Clients, There is great news for us expats! We can now get: 10-year visas, 100% foreign-owned onshore companies, and improved investments conditions. The outlook for 2018 is excellent. We are living in the right part of the world. But as I can see many clients are cautious about the future. Political risks in neighboring countries, economic …
In October of last year, we wrote an article on how laborious – and often impossible – it is for companies in the UAE to open bank accounts. This article was met with a great response. A little more than half a year later, unfortunately, the situation has not improved; on the contrary, RAKICC, an …
It is not getting better with the banks or the drama with the banks in the UAE part two Read More »
Dear Friends and Clients, The party is now over –time to begin more serious work. For the 4th time, we held our office event last Thursday. Thank you all for attending and mainly thanks to the speakers, Richard Bandera, the Austrian Commercial Counsellor and Gordian Gaeta for their visionary outlook on the economy in the …
Dear Friends and Clients, The year started well – at least for most of our clients and our chambers. We have hardly ever had as much work as in these past few months. Many Europeans have set up branches and subsidiaries in the MidEast and FarEast, and many have relocated into these regions. That is …
The UAE has enshrined a legally guaranteed severance pay (End of Service Gratuity) in its labour law. This right to severance pay is governed by the Labour Law (UAE Federal Law No. 8 of 1980) and must be paid by the employer to the employee upon termination of employment. The amount of the End of …
End of Service Gratuity a Statutory Compensation Claim Read More »
Paying customs twice is burdensome and has also become the subject of complaints to various authorities in the UAE. Frequently, goods were delivered to a free zone, especially as it is connected to a port, and then the goods were to be transferred to another free zone. The Free Zone 1 required already the 5% …
Dear Friends and Clients, May I first of all wish you a happy and prosperous New Year with all your wishes to come true. Expectations and attachments are the cause for suffering – so do not expect too much. Let it happen and improve the situation wherever you can. May I draw your attention to …
Dear Friends and Clients, We’re almost done. Only some more hours to go. No reason to become sentimental. If it was a good year it’s passed as well as if it was a bad one. Don’t live in the past, cause you can’t change it. Don’t live in the future cause you don’t know it. …