FAQ : Mandatory health insurance for private sector
1. What is the new mandatory health insurance scheme announced by the UAE Cabinet? The UAE Cabinet has announced the implementation of mandatory health insurance for all private sector employees starting January 1, 2025. This decision extends coverage to employees in emirates outside Dubai and Abu Dhabi, as well as domestic workers who currently lack […]
UAE announces mandatory health insurance for private sector
The UAE Cabinet, chaired by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President of the UAE and Ruler of Dubai, has announced the implementation of mandatory health insurance for all private sector employees starting January 1, 2025. This decision comes alongside the approval of a UAE-wide health insurance system during a recent cabinet meeting. […]
How to Start a Business in a UAE Free Zone in Six Steps
The Commercial Transactions Law underwent significant revisions recently in the UAE, one of which involved lowering the minimum age requirement for establishing a business. This alteration reflects the nation’s ongoing efforts to attract high net worth individuals, investors, and entrepreneurs. With its streamlined procedures, swift processing times, and favorable legal framework, the UAE has become […]
Dubai Introduces 20% Annual Tax on Foreign Banks
In his role as the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, has enacted Law No. (1) of 2024 concerning the taxation of foreign banks operating within the emirate of Dubai, henceforth referred to as ‘the New Law’. This legislation supersedes Regulation No. […]
ESR Compliance in UAE [Infographics]
UAE removed from the FATF Grey List
In a significant milestone, the United Arab Emirates (UAE) achieved a major victory on February 23, 2024, as it was officially removed from the Financial Action Task Force (FATF) Grey List—a compilation of jurisdictions under increased monitoring. The exhaustive efforts put forth by the UAE government and the Executive Office for Control and Non-Proliferation (EOCN) […]
Penalties for UAE Corporate Tax
UAE corporate tax regulations were subject to fines and penalties for businesses that violated them. Enterprises have to be prepared to register for CT and make the required payments as soon as possible in order to avoid fines and penalties. Penalties for UAE Corporate Tax On June 1, 2023, the UAE implemented Corporate Tax, and […]
UAE Corporate TAX Deadline
Determination of the corporate tax period and its deadline for submission Knowledge of taxation is essential for running any business. Businesses operating in the UAE are required to have working knowledge of the system of taxation there, which includes the newly introduced corporate tax. In this article, we will delve into the details of corporate […]
UAE Corporate Tax Compliance: Checklist for Businesses to Avoid Penalties
The United Arab Emirates (UAE) has grown throughout time to become a global hub for enterprises looking for strategic development and profitable prospects. With its investor-friendly regulations, cutting-edge infrastructure, and dynamic economic landscape, the UAE continues to draw entrepreneurs and corporations from around the world. However, despite the allure of the UAE’s business environment, companies […]
UAE corporate Tax: New Dh10,000 fine announced for late registration
The cabinet decision will come into effect on March 1 On Tuesday, the Ministry of Finance unveiled a fresh penalty of Dh10,000 for individuals who fail to promptly register for corporate tax. This measure aims to motivate taxpayers to adhere to tax regulations by ensuring timely registration. The fine for late tax registration mirrors the […]
