UAE

VAT in the UAE

With a few exceptions, UAE Free Zone Companies Are Generally Subject to VAT Liability. Businesses within the designated zone have similar rules to non-designated zones. According to the UAE VAT Law, free zone companies must undergo VAT registration. They are also eligible to register under the group VAT system. As per the VAT implementation rule,…

United Arab Emirates: Employment Residency Permit validity reduced to two years for applicants in Free Zones

United Arab Emirates: Employment Residency Permit validity reduced to two years for applicants in Free Zones

Effective immediately, UAE employment residence permit applicants in free zones are no longer eligible for a permit with a three-year validity; Instead, the maximum validity has been shortened to two years. This stems from the recent amendment of the immigration regulations which reduced the UAE residence permit validity to two years maximum,matching the mainland’s current…

Dubai grants crypto exchange company a virtual asset license

Dubai grants crypto exchange company a virtual asset license

Cryptocurrency exchange Binance announced on Wednesday that it had been granted a license to operate in Dubai, United Arab Emirates. The company’s presence in the Middle East has been building up lately, with a crypto service provider license in another Gulf market, Bahrain, coming in earlier this week. Under the Dubai virtual asset provider (VASP) license, Binance will…