IFRS 16, Leases, effective for annual periods beginning on or after 1 January 2019, was amended in response to the COVID-19 coronavirus pandemic by International Accounting Standards Board to provide…
UAE Gratuity – Type of Contract – Unlimited Contract
The following blog is part 3 of the UAE Gratuity topic. You can find the links to other topics in UAE Gratuity: Part 1 – Understanding basics of Gratuity(click on…
UAE Gratuity – Type of Contract – Limited Contract
The following blog is part 2 of the UAE Gratuity topic. You can find the links to other topics in UAE Gratuity: Part 1 – Understanding basics of Gratuity Part…
UAE Gratuity Policy – Understanding the basics of Gratuity
Every employee who has spent a considerable amount of time working in a company is provided a benefit from the company in the form of lumpsum amount when he/she moves…
Dubai International Financial Centre or DIFC
The Dubai International Financial Centre (DIFC) is a special economic zone in Dubai established in 2004. It is a hub for Middle East, Africa and South Asia (MEASA) markets. DIFC is one of…
Dubai Health Care City or DHCC
Dubai Health Care City is a free zone launched by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai in…
DIC or Dubai Internet City
Dubai Internet City or DIC is a free zone established by government of Dubai in the year 1999 and inaugurated in the year 2000, which is an Information Technology park.…
Business Setup in HFZA or Hamriyah Free Zone Authority
The Hamriyah Free Zone in Sharjah ,United Arab Emirates is established in November, 1995 by an Emiri decree. It is the industrial hub of Sharjah emirate. Types of companies approved by HFZA: HFZA…
Business Set Up in Twofour54
Twofour54 is located in the UAE capital Abu Dhabi. It got its name from geographical coordinates of Abu Dhabi (24° North, 54° East). It was launched in 2008 to accelerate…
Business Set Up in DAFZA or Dubai Airport Free Zone
Dubai Airport Free zone, going by the name of DAFZA is a free zone established by government of Dubai in 1996. DAFZA came into being as part of the Dubai…
Economic Substance Regulations (ESR) – Banking Business
In Reference to Economic Substance Regulations (ESR), ‘Banking Business’ means the business of accepting deposits of money which can be withdrawn or are repayable on demand/fixed period or on notice…
Economic Substance Regulations (ESR) – Intellectual Property Business:
A UAE business is regarded as carrying on an Intellectual Property Business if it holds, exploits, or receives gross income from “Intellectual Property Assets”, which is defined as any intellectual…