Although the local authorities in the United Arab Emirates (UAE) have announced the distribution of economic stimulus packages in order to minimize the disruption that’s caused by the COVID-19 pandemic, there are still businesses that are negatively affected by the disruption in one way or another. Understanding the practical options for bankruptcy and insolvency, as … Read more
Debt can be a great threat to any business with many companies in the UAE finding themselves either liquidating their assets or undertaking rehabilitation. It is important to know that both kinds of bankruptcies have different implications to a business. Businesses in UAE are trying not to file for bankruptcy as the business climate in … Read more
No matter what kind of Company you run in the UAE, you are required to cancel your business license and all relevant permissions as soon as you decide to close your business. The procedures for proper Company Liquidation in UAE Free Zones and cancellation of its license are summarized in this article. The appropriate governmental … Read more
UAE has made shopping quite easy and exciting for tourists! Now, the UAE has initiated the world’s first VAT refund system for e-commerce shopping for tourists. With the help of this system, visitors can easily get VAT refunds on their online shopping. This system has been designed by the Federal Tax Authority, FTA, so that … Read more
In the fast-paced world of business, companies occasionally find themselves in situations where the best course of action is to dissolve the company. One way to achieve this is through Voluntary Liquidation in the UAE, a legal process that enables businesses to wind up their operations in a systematic manner. This article aims to explain … Read more
The financial and legal departments in the UAE play a pivotal role in combating money laundering (ML) and terrorism financing (TF). Accountants and other legal advisors, among other professionals, are, through UAE laws, bound by strict Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) frameworks to mitigate financial crime risks. Also read: UAE AML/CTF Compliance This … Read more
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