Business Setup Consultant in UAE

  ​​​​​​​ On Jan 14 th  of 2025, Federal Tax Authority (FTA) have issued VAT public clarification (VATP039) on VAT implication on Crypto Currency Mining. As we all witnessing rise of popularity of crypto currency, FTA have given the clarification on the  VAT  treatment on Crypto currency mining. Crypto mining is the process by which individuals or businesses use specialized equipment, known as mining rigs, to validate blockchain transactions and earn cryptocurrency rewards. The tax treatment of these activities in the UAE depends on whether the mining is done for personal use or as a service provided to others. Here’s an overview of how VAT applies to crypto mining in the UAE: Mining for a person’s own account : When a person mines cryptocurrency for their own account, person is not guaranteed a reward if he successfully solves the cryptographic equation, as the reward does not solely depend on the person solving the equation, but also on being the first to solve it....

Establishing a business in a thriving centre like Dubai promises dichotomous advantages ranging from strategic positioning to economic prosperity and inviting tax considerations. However, setting up initial charges is usually one of those critical things hindering new entrepreneurs. With some planning and guidance, it is quite easy to make a start without forking out too much cash. This guide gives you some key tips to save money when starting a business in Dubai and underscores the importance of seeking the help of a professional  business setup consultant in the UAE . Selecting the Appropriate Business Jurisdiction (Free Zone versus Mainland) One crucial setup factor affecting cost is the jurisdiction. Dubai offers two principal options: Mainland and Free Zones. Free Zones: These economic zones grant the advantages of 100% foreign ownership, full repatriation of profits, and sometimes tax exemptions for a determined period. Free zones are usually cheaper for initial setup, espec...

  On Apr 14 th  of 2025, Federal Tax Authority (FTA) have issued VAT public clarification (VATP041) on VAT implication on Swift Message replacing the previous VATP036. UAE Banks and exchange houses (“Financial Institutions” or “FI”) FI incur international bank charges from banks outside the UAE as a result of using the Society for Worldwide Interbank Financial Telecommunications (“SWIFT”) communication system with these banks. The provision of the right to use the SWIFT communication service constitutes a Service for  VAT  purposes.where such Service is received from outside the UAE, it constitutes a Concerned Service for UAE VAT purposes and covered under RCM on import of services. Financial Institutions that are registered for  VAT in the UAE  are required to issue and deliver an original Tax Invoice to the recipient of taxable services supplied by the Financial Institution. Since the Financial Institution is regarded as supplying the Concerned Service to...

  A REIT that meets all the legal conditions under Article 10(1) of the  UAE Corporate Tax Law  and Cabinet Decision No. 34 of 2025 can apply to be exempt from Corporate Tax as a Qualifying Investment Fund. If granted, this exemption applies from the specified tax period. However, from  1 January 2025 , corporate (juridical) investors in such exempt REITs must pay Corporate Tax on  80% of the REIT’s prorated immovable property income , unless they no longer hold any ownership and did not receive a dividend distribution within  9 months  after the REIT’s financial year-end. Purpose The purpose of this public clarification is to clarify the following: The income that will be taxed in the hands of juridical persons that are investors in a REIT. The relevant Tax Period in which the income shall be taxed for such investors. The compliance obligations of the REIT and the investors and other related matters. Clarification Taxable Income in the Hands of Juridi...