Overview of EOSB End-of-Service Benefits (EOSB), commonly known as gratuity, are lump-sum payments due to employees when their employment ends. In the UAE, EOSB serves as a financial safety net to reward employees for their service and support them during career transitions. For employees, EOSB can fund future plans or cushion periods of unemployment, making …
In a landmark move to enhance business opportunities, the Ras Al Khaimah International Corporate Centre (RAK ICC) has announced new developments under the 2024 Emiri Decree. These changes are set to empower International Business Companies (IBCs) by providing expanded operational capabilities within the Ras Al Khaimah Economic Zone (RAKEZ). RAK ICC has been authorized to …
RAK ICC Introduces Free Zone Commercial Licenses Read More »
The successful hosting of the 28th meeting of the Conference of the Parties (COP) to the UNFCCC by the United Arab Emirates (UAE) represents a pivotal moment in the global effort against climate change. With nearly 200 parties and 85,000 participants in Dubai, the conference demonstrated strong global unity, yielding comprehensive and representative outcomes in …
Global Unity in Action: Key Takeaways from COP28 Read More »
Overview The United Arab Emirates is a federation of seven emirates and is one of the world’s most stable and prosperous economies. It has achieved significant economic growth over the past decade, making it a hub for international trade, finance, and investment. In 2023, the UAE is expected to remain one of the strongest economies …
UAE Economic Outlook for 2023: Strong and Steady Read More »
Non-Muslim foreigners living in the UAE are strongly encouraged to register their wills to protect their family and assets. Wills or testaments represent a person’s final wishes on how they want their assets to be distributed upon their death. A will also appoints an executor or executrix who is responsible for managing the probate estate …
Will registration for non-Muslim expats in the UAE Read More »
The UAE has become a business hub for investors looking for a central location for international expansion. UAE’s favorable tax structure, simple legal framework, and business-friendly atmosphere make it a popular destination for businesses and investors. The process of setting up a business in the UAE is quite easy compared to other western countries, but …
Currently ranking 4th in the 2021 Best Countries to Invest In, the UAE is regarded as one of the world’s top investment destinations. It has a thriving international market, tax-friendly policies, and a solid social and economic framework. With excellent infrastructure facilities, exceptional human resources and services, and a focus on smart governance, it provides …
The UAE continues to promote new priority sectors and boost its competitiveness and attractiveness so as to be among the world’s most active economies. The Ministry of Human Resources and Emiratisation (MOHRE) has announced several labour regulations since the new Federal Decree-Law No. 33 of 2021 was implemented on 2nd February 2022. Compliance must be …
A record number of transactions worth AED 114.5 billion were recorded in the first half of 2022 for the Dubai real estate market. June 2022 surpassed a 13-year record for sales volume, with over 41 percent growth over 2021. A total of 8,850 transactions worth AED 22.10 billion were recorded in June, making it the …
Ras Al Khaimah is a 45-minute drive north of Dubai and is considered the UAE’s 4th largest Emirate. It features a 64-kilometer coastline, lush mangroves, a beautiful desert landscape, rich culture, and is home to the UAE’s highest mountain peak – Jebel Jais. RAK aims to be a leader in sustainable tourism by 2025 and …