Offshore banks are those that are located outside country of any bank account holder. But in normal usage, the banks that provide offshore banking services are called offshore banks. They are different from local banks that are also known as onshore banks. Offshore banks are mostly located in various offshore jurisdictions. These locations provide specific…
Over half month has passed since the implementation of Value Added Tax (VAT) in UAE (and Saudi Arabia). The newly implemented tax has affected businesses all over the country. Not only that tax is applied on the businesses on mainland but it is also laid on several free zones. UAE is a business hub where…
Since being a part of UAE, Dubai is known for adopting business-friendly policies. The emirate has now turned in to one of the world’s most preferred locations for entrepreneurs around the world. Dubai is providing business opportunities of various levels for different types of business structures. Business opportunities are available on both mainland and free…
Dubai is the most business-friendly emirate in UAE. It achieved this status especially with the extensive use of free zones that provide complete foreign ownership and tax-free environment to foreign investors. Dubai is currently holding 27 free zones out of a total 45 in the UAE. Few of these free zones in Dubai accommodate a…
UAE is providing one of the world’s best experiences for offshoring. An important aspect of offshore business in UAE is its availability in various locations. Offshore business is provided by various emirates of UAE and all these emirates have their own rules regarding businesses. This is a unique opportunity available in the country as such…
Despite concerns about the effects of newly implemented value added tax (VAT) on businesses in UAE, the Department of Economic Development (DED) is confident that the new tax will impact positive changes on local businesses as well as on the economy of UAE as a whole. According to an official of DED, the implications of…