Legal

UAQ Free Trade Zone Signs MoU with NBQ to Ease Banking Operations for SMEs, Entrepreneurs and Large Enterprises in the UAE

Umm Al Quwain Free Trade Zone (UAQ FTZ) signed a strategic MoU with the National Bank of Umm Al Quwain (NBQ) to ease the Corporate Banking requirements of companies registered in UAQ FTZ forming a privileged circle of customers who can avail priority banking. The bank offers a comprehensive and versatile suite of products and services for building the capabilities of SMEs, Startups and large...

The Chedi Al Bait: Making Working from Home a Luxury

Sharjah (05/07/2021): Working from home has become the new mainstream. People wake up in the morning, choose an available working space in their homes, and will most likely remain in the same position all day without distractions and no scenery to comfort a stressful day at work. The Chedi Al Bait is about to revolutionise working from home with Chedi Connect – a truly magnificent package that...

UAE homegrown Fitness brand GymNation partners with Heroes of Hope in support of People of Determination across the UAE

GymNation, the UAE’s leading gym operator, today announces the success of its partnership with inclusive sports community NPO, Heroes of Hope. The partnership was set up at the start of November 2020, to reaffirm GymNations focus on supporting UAE communities, by providing People of Determination the opportunity to excel through employment and access to fitness. The partnership comes in response...

Umm Al Quwain Free Trade Zone sees 70% Increase in New E-commerce Licenses in Last Three Months

  With sales completely shifting online globally, UAQ FTZ’s start-up friendly E-commerce License is a boon to retailers in these challenging times as it focuses on minimal investment to sell online. The result is seen in the 70% increase in new e-commerce licenses in the last three months.  “We have seen a surge growth in sales of our E-commerce licenses in the last few months as people...

Yes Full Circle’s Proteco division unveils pioneering integrated brand protection and zero waste facility in Dubai

Yes Full Circle’s Proteco division officially launched a pilot plug and play facility that provides integrated brand protection, secure destruction and closed loop/zero landfill recycling solutions.   The facility uses proprietary technology to provide full traceability to confirm and validate the entire destruction and recycling process (a global first). The audit trail is stored on Green...

License renewal – A guide to saving costs

 Choosing the right place Licensing regulations for businesses operating in Dubai’s free zones and its mainland are different. This is important information to know and understand, if you’re considering where to set up a business in the city, as regulations correspond to different advantages and limitations in each jurisdiction. This way you can make the right choice for revenue optimisation,...

Made in Italy, ICSA® Issues a Notification of Counterfeit Products Found in the Kingdom of Saudi Arabia

FOR IMMEDIATE RELEASE Concesio, Italy - (EMAILWIRE.COM) - The following is a notification from ICSA Serrature Srl that the door hinge identified below bears a counterfeit UL Certification Mark.   The door hinge has not been evaluated by UL to the appropriate Standards for Safety and it is unknown if they comply with any safety requirements.   Although the door hinges are marked ICSA SRL , the...

One belt one road – How to take advantage of the changing market in Dubai

Another major international collaboration is Dubai’s partnership with China for ‘One Belt One Road’ (OBOR), an ambitious infrastructural endeavour that aims to revive its historic Silk Road trade network. The $900 billion initiative involves building roads, railways and shipping lines between China and more than 60 countries in Asia, Middle East, North Africa and Europe. It is said that the...

Why shareholder’s agreements are important in UAE

  Shareholders’ Agreements Provisions Shareholders’ agreements usually include some of the following provisions: Directors and management structure within a company setup Buying/ selling provisions A shareholder’s agreement may grant titles and management roles to one or more of the stakeholders in a company being setup in the UAE i.e.  to be a director on a board, or decide the composition...

Setting payment terms for your clients

When setting payment terms for your clients, here are a few things to keep in mind:   Set a reasonable payment schedule In the Middle East, a payment contract needs to comply with the laws of the UAE, or the Dubai International Financial Centre (DIFC), if the parties opt-in to its jurisdiction. Whilst it is reportedly common for clients to push for a payment schedule with a three-to six-month...

How to invoice international clients

Here’s a few things to keep in mind for a new business startup when invoicing international clients:   List the details It is mandatory to issue an invoice for any product or service that is up for sale in the UAE. In addition to detailing the nature of the work, it also needs to include the following: -       Complete customer (name and address) and supplier information, including the...

5 Key tips to starting your company in Dubai

   Below are five things to remember when you are planning on setting up a business in Dubai:   1) Research your niche in the market:  Before starting your business in Dubai, research the market thoroughly. Study your niche and focus your business plan on how your company can tackle a pain point neglected by other businesses. Through your marketing, emphasise to your prospective clients that...

How to implement the perfect employee incentive scheme

Business startups in the UAE tend to offer two main kinds of incentives to employees: cash bonuses and stock ownership.    Cash bonuses  Simply put, cash bonuses are pre-set payments that are awarded to employees when their performance empowers the company to fulfil certain objectives. Some companies choose to offer annual bonuses to staff; others stagger payments over a more extended time...

5 Women Entrepreneurs Making Waves in Dubai

Here are five entrepreneurial women that you should definitely know about.   Nadine Mezher – SARWA Cofounder of financial investment and advisory firm, Sarwa, Nadine Mezher wanted to start a business that made financial loans more accessible to new and young startup owners in Dubai. Partnered with a Canadian team, and now the chief managing officer, her company offers minimum-account options,...

Why entrepreneurs are changing the face of Dubai

Let’s look at how Dubai has evolved with this transition.    A vibrant business sector   Dubai has come a long way since its oil-dependent days prior to the 1970s. Where once more than half of its GDP was derived from the oil industry, this percentage has now declined to less than 1%.    Today, Dubai owes its growing GDP to a number of different industries, including wholesale and retail...

Tips for ensuring the smooth opening of a corporate bank account in Dubai

As of June 2019, there are 22 locally incorporated banks in Dubai. Moreover, there are 27 branches of regional and international banks in the UAE, most of which have a presence in Dubai. With about 45 banks to choose from, new investors looking to register a business in Dubai must carefully select a bank that supports their business needs.    When opening a business in UAE and choosing a...

What to include in an employment contract in the UAE

As a new business startup owner in Dubai, you might be putting together a new team from scratch. As this will be the first time you’re working with them, it is a good idea for expectations to be clearly identified in a mutual agreement.     The terms of the job This is where the contract identifies an employee’s departmental position, role, and title in the organization. This section should...

Can You Sponsor Your Dependents in Dubai?

Thankfully, just like a company formation in Dubai sponsoring dependents in Dubai is generally a straightforward process, allowing families to relocate to the UAE together. Below are some requirements and points to consider when sponsoring dependents in Dubai.   Recent Changes  Family sponsorship is now more accessible than ever before. As of July 2019, an expat may sponsor their spouse and...