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Dubai becomes world’s busiest airport Overtakes Amsterdam The Economic Development of Abu Dhabi permits for virtual license for foreign investors Welcome to the Regime of Proactive Laws in UAE On Work Permits Insurance licenses made mandatory for navigation vessels: Saudi Arabia

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Dubai chambers of commerce establishes...

Dubai Chambers of Commerce has declared its intention to establish new country-specific business Councils in the city. Over 150 ambassadors, consul generals, and commercial attachés attended the Diplomatic Circle Dinner 2022 Abdul Aziz Al Ghurair, Chairman of Dubai Chambers, announced this news...

Non-Fungible Tokens (NFT) in UAE....

What is an NFT?If we put it simply, then NFT is an acronym for “non-fungible token” which refers to a digital asset with unique characteristics, that cannot be replaced by another digital asset. It exists typically on a blockchain, i.e., the technology that underpins crypto assets including...

Dubai re-exports 6.277 million...

Dubai has imported eight million tons of food during 2021 and re-exported 6.277 million shipments through all its ports, a Dubai Municipality press release said on Thursday. Federal Government's Official News Agency WAM reportered that Dubai also issued 78,812 food export health certificates, while...

Revised Taxation Laws on Harmful...

The UAE has set a standard on the consumption of harmful products not only to discourage consumption but also promote healthy living. Taxes have been levied on certain harmful products like tobacco, alcohol, electronic vapes and energy drinks among others in a bid to promote better living standards....

How To Obtain Cryptocurrency License...

Digital platforms are evolving globally & the worlds’ economy is irresistibly moving towards a digital ecosystem. From investing to transferring money, everything is happening digitally. The newest and most promising addition to the digital economy division is cryptocurrency. This new form...

Cryptocurrency License Regulations...

Cryptocurrency has paved a new way for the international trade and economy. As per the current scenario there are more than 200 crypto currencies. Binance and Kraken are one such examples of it.   France has accepted of Binance as the Digital Asset Service Provider. Binance (BNB) has thus received...

Crypto Law UAE - An Overview

A cryptocurrency is a form of digital money that is decentralized and relies on blockchain technology. Although you might be aware of the most well-known versions, Ethereum and Bitcoin, there are over 5,000 distinct cryptocurrencies in use. When Satoshi Nakamoto, the unknown founder of Bitcoin, introduced...

Indian Exports to UAE will Benefit...

Picture Courtesy: WAM The United Arab Emirates (UAE) and India had signed a trade agreement to decrease import taxes on the majority of Indian exports to the UAE. After the United States and China, the UAE is India's third-largest trading partner in the world. It is also India's ninth largest source...

The New UAE Corporate Tax Will...

The UAE, previously considered as a tax haven, had gradually started introducing taxation in the country. In 2018, UAE first introduced a Value Added Tax for indirectly taxing goods and services as well as the Country-by-Country Reporting (CbCR) regulations in April 2019. On 31 January 2022, the UAE...

PENALTIES FOR VIRTUAL CURRENCY...

Bahrain: Penalty on Unlicensed Virtual Currency Trading Platforms According to the Head of the Financial Crimes and Money Laundering Prosecution, four expatriates were fined for operating a trading platform without license. The Second Circuit Criminal Court ruled that the four expatriate defendants...

UAE: Ajman Provided With Free...

Fuel delivery company Cafu and Al Ihsan Charity Association have teamed up to provide free fuel to low-income households in Ajman. Eight fuel trucks were allocated to deliver petrol to families and individuals in need and more than 100 low-income households in Ajman received free fuel last week. Cafu...

Qatar: Tax Filing Deadline of...

On 30 August 2021, the General Tax Authority (“GTA”) vide their Circular No 6 of 2021, has extended the deadline for filing tax returns from 31st August 2021 to 31st December 2021 for eligible businesses. Eligibility applies to: Entities having a capital of less than QR 1 million and yearly...

Saudi Arabia: Saudi Capital Market...

The violation of the Capital Market Law and alleged insider trading has got certain concerned individuals in legal trouble. For revealing sensitive internal information, the Saudi Capital Market Authority (CMA) has placed around 250 social media users to the Public Prosecution. In addition, the group's...

Commercial Transactions Law in...

Introduction In 1985, the United Arab Emirates passed a civil code that was to be applied to civil transactions, and commercial transactions were to be exempted from the scope of this law. Still, the difference between the two wasn't explicitly stated. Till 1993, the courts in the UAE depended on tenets...

UAE: Q-Commerce Thrives In UAE

Q-commerce is a market defined by very fast delivery from local shops, restaurants, and is set to play a major role in the growth of the e-commerce industry in the UAE and Middle East and North Africa (Mena) region. Q-commerce has already taken up 20 per cent of the Mena region’s digital economy...

UAE: Abu Dhabi To Incentivise...

In an attempt to properly legislate and build legal framework to include the Agri-sector within the ambit of the law, the Emirate of Abu Dhabi has decided to initiate a mechanism to register Agricultural land leases. To register agricultural land leases in Abu Dhabi, the Department of Municipalities...