Business

How to Start a Business in Dubai – 2023 Success Guide

A city with humble beginnings that has transformed into a global business powerhouse, stands as a testament to visionary ambitions turned into reality. Situated at the crossroads of three continents and strategically positioned between East and West, Dubai has become a central hub for international trade and commerce.

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Business

Starting a Business in Dubai as a Foreigner or Non-Resident

Dubai, a global business hub, is renowned for its welcoming business environment, strategic location, and robust economy. It offers a plethora of opportunities for entrepreneurs worldwide, including foreigners and non-residents. This article explores the process of starting a business in Dubai as a foreigner, the benefits it offers, and the considerations to keep in mind.

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Business

Establish a Family Office in Dubai, UAE, for Wealth and Succession Management

The concept of a family office in UAE has been around for centuries, with the Medici family in Renaissance Italy often credited as the pioneers. However, the modern family office, as we know it today, has seen substantial growth over the past several decades. This growth is particularly noticeable in the United Arab Emirates (UAE), and more specifically, in the bustling city of Dubai.

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Business

AML in UAE, Dubai #2023 – Should Service Providers be Concerned?

AML stands for Anti-Money Laundering. It refers to a set of laws, regulations, and procedures intended to prevent criminals from channelising of illegally obtained funds into the economy.

In the United Arab Emirates (UAE), AML regulations are enforced by the Central Bank of the UAE. These regulations are designed to prevent and combat money laundering and terrorist financing. They require financial institutions and other regulated entities to implement systems and controls to detect and report suspicious activity and to carry out customer due diligence.

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Business

What Is The Process of Know Your Customer (KYC) in AML – 2023 Update #UAE

In today’s interconnected world, where financial transactions can cross borders in the blink of an eye, knowing your customer is more than just a business best practice—it’s a regulatory necessity. Know Your Customer, or KYC, is a process that businesses use to verify the identity of their clients. This process is crucial in preventing identity theft, financial fraud, money laundering, and terrorist financing. But what does KYC entail, and why is it so important, particularly for companies in the UAE? Let’s delve deeper into this topic.

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Business

The UAE is all set to implement the first corporate tax groups

The creation of “tax groups” will be the next significant set of updates for many business owners, even as the UAE tax authorities continue to publish updates on corporate tax.

Here, various companies run by one or more dominant shareholders get together to establish a tax group. The reduced administrative burden’ from filing corporation tax under a single consolidated return furnished by the parent firm will be the major benefit of doing so.

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