A Special Power of Attorney (SPOA) is a legal document that grants someone limited authority to act on your behalf for a specific task. In Dubai, it’s widely used for property sales, vehicle registration, and legal matters when the principal is unavailable. Unlike a General POA, it focuses on a single, clearly defined action, making…
The Organisation for Economic Co-operation and Development (OECD) has confirmed that the UAE’s Domestic Minimum Top-Up Tax (DMTT), set at 15% for large multinational companies, has achieved transitional qualified status. The decision, announced on August 25, 2025, provides greater certainty for businesses operating in the Emirates and shields them from additional foreign tax burdens. The…
Dubai Maritime Authority (DMA), part of the Ports, Customs and Free Zone Corporation (PCFC), has started a new service that makes it easier for tourists to enjoy boating in Dubai. Visitors who already have licenses from countries that are members of the International Maritime Organization (IMO),such as the GCC, Europe, the United States, and other…
The Central Bank of the UAE (CBUAE) has suspended the licence of YAS Takaful PJSC under Article 33(2)(k) of Federal Decree Law No. (48) of 2023 Regulating Insurance Activities. The decision came after the company failed to meet the required regulatory standards for insurance providers in the country. Existing policyholders will remain covered under contracts…
The UAE government has made it clear that all businesses in the country must register for corporate tax by July 31, 2025. If they don’t, they could face a fine of AED 10,000 from the Federal Tax Authority (FTA). This applies to all kinds of businesses, including: Mainland companies Free zone businesses Sole proprietors Even…
The UAE tax authority may soon allow companies to keep their VAT number even after changing their business type. This change could remove delays, reduce costs, and help more businesses grow without tax confusion. Right now, businesses converting from sole owners or branches to new companies must cancel their VAT and apply again — even…