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In a move that is set to boost the real estate market, Dubai has updated the requirements for the 10-year Golden Visa. Previously, property investors were required to make a down payment of AED1 million to qualify for the visa. However, this requirement has been altered, according to several reports. Now, to be eligible for …

UAE: Gold Visa Requirements updates Read More »

The UAE announced new rules on notice periods and contract termination in the country. According to the Ministry of Human Resources and Emiratisation (MOHRE), the employer and employee can terminate a contract, so long as they abide by the terms and conditions of the contract. The MOHRE clarified that notice periods in the UAE must range …

UAE announces notice period rules Read More »

In line with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to ensure that Dubai is the world’s fastest, and most agile and future-ready city, H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, …

Sheikh Hamdan announces launch of Dubai Universal Blueprint for Artificial Intelligence Read More »

The UAE’s new Bankruptcy Law has come into effect from May 1, 2024, and by this, even senior management figures at a company can be held responsible. Earlier, the onus and the liabilities associated with a company going bankrupt were primarily on the company’s directors. Under the new law, there will be a ‘two-year limitation period’ …

New UAE Bankruptcy Law: Will company managers too be held liable for high-risk decisions? Read More »

The Central Bank of the UAE (CBUAE) today issued a notice to all banks and insurance companies to allow the deferral of repayment of instalments of personal and car loans for customers affected by the repercussions of the weather condition for a period of six months. The deferral shall be without imposing additional fees, interest …

UAE banks can defer loan repayments to help flood-hit residents Read More »

The Federal Tax Authority (FTA) has called on resident juridical persons who are taxable persons for Corporate Tax purposes with licenses issued in January and February (regardless of the year of issuance) to submit their Corporate Tax registration applications no later than May 31, 2024, to avoid violating the tax law.
 The FTA reiterated that …

New UAE companies to apply by May 31, says FTA Read More »