speedybeardconnoisseur

[opspayroll]

UAE Employment Contracts: Unlimited vs. Limited and Dubai Labor Laws

When working or hiring in the UAE, understanding the two main types of employment contracts—unlimited and limited—is crucial. Each contract type has its unique terms and conditions that affect everything from job security to termination rights. This blog will break down the differences, highlight the key aspects of Dubai labor contracts, and guide you on choosing the right contract type for your business or career in the UAE.

What is an Unlimited Contract in the UAE?

An unlimited contract in the UAE is an open-ended employment agreement. It does not specify a fixed duration of employment and provides flexibility for both the employer and employee. These contracts are popular for roles that are ongoing, where no clear end date is required.

Key features of an unlimited contract include:

No set end date.

Either party can terminate the contract, provided appropriate notice is given.

Commonly used for long-term employment relationships.

Termination of an Unlimited ContractIn an unlimited contract, either party can terminate the employment by providing notice, usually between 30 and 90 days. Employees under this type of contract are entitled to severance pay based on their length of service.

Tip: Unlimited contracts offer greater job security, making them attractive for employees seeking long-term stability.

What is a Limited Contract in the UAE?

A limited contract in the UAE is a fixed-term agreement where both the start and end dates of the employment are clearly stated. Typically lasting for two to three years, this contract type is ideal for specific project-based roles or positions with a clear end date.

Key features of a limited contract include:

Defined start and end dates.

Automatic expiration unless renewed.

Termination before the end of the contract term may result in penalties for either party.

Termination of a Limited ContractIf a limited contract is terminated before the agreed-upon end date, the party responsible for the termination may be required to compensate the other party. This compensation usually equals the salary for the remainder of the contract period or up to three months' salary.

Tip: Limited contracts are often used for projects or seasonal jobs and offer clearer terms of service duration.

Dubai Labor Contract: Key Insights

If you're working in or hiring for a position based in Dubai, it’s important to note that Dubai labor contracts adhere to the UAE's labor laws but may include specific guidelines due to the local legal framework. Whether you're dealing with a Dubai labor contract under a free zone or on the mainland, here are key points to consider:

Legal Framework: Dubai follows federal labor law but has specific rules under free zones such as DIFC and JAFZA.

Salary and Wages: Employers must comply with minimum wage laws and ensure timely salary payments.

Employee Rights: Dubai labor contracts must respect employee rights, including timely payments, end-of-service gratuity, and appropriate leave.

Note: Employers in Dubai should familiarize themselves with local regulations and ensure their employment contracts comply with both UAE labor laws and specific Dubai requirements.

Key Considerations for Employers and Employees

When deciding between an unlimited contract and a limited contract in the UAE, both employers and employees should consider the following:

Nature of the Job: Is the job project-based or long-term? For short-term projects, a limited contract is more appropriate, while for ongoing roles, an unlimited contract is often preferred.

Employee Rights: Understand the severance pay and end-of-service gratuity rules for each contract type. Unlimited contracts may offer more flexible severance pay, while limited contracts involve strict penalties for premature termination.

Job Security: Employees seeking long-term stability may prefer unlimited contracts. However, limited contracts offer clearly defined periods of employment, ideal for project-based roles.

Legal Obligations: Both contract types are governed by UAE labor laws, and it's crucial to adhere to these legal obligations to avoid disputes or penalties.

Benefits of Each Contract Type

Both unlimited contracts and limited contracts offer distinct advantages, depending on the employer's business needs and the employee's career goals.

Advantages of Unlimited Contracts:

Greater job security for employees.

Flexibility in termination, provided notice is given.

Well-suited for long-term roles and stable employment.

Advantages of Limited Contracts:

Clear terms of employment with defined start and end dates.

Ideal for project-based or seasonal roles.

Provides a structured employment relationship.

Summary: Choosing the right contract type involves balancing job security, flexibility, and the nature of the work. Employers and employees should assess their individual needs before committing to a contract type.

Final Thoughts on UAE Employment Contracts

The UAE offers a well-regulated employment system with both unlimited and limited contracts to meet diverse business needs. Employers must ensure compliance with UAE labor laws and select the contract type that aligns with their business requirements. Employees, on the other hand, should carefully review their contract terms to protect their rights and job security.

Whether you're hiring in Dubai or working in the UAE, understanding the nuances of unlimited and limited contracts is crucial for making informed decisions. By choosing the right contract type, you can establish a productive and legally sound employment relationship.

For expert advice and assistance with your UAE employment contracts, OPS is here to help. As a trusted partner, OPS ensures that your business is compliant with UAE labor laws while providing tailored solutions for your employment needs. Contact OPS today for reliable support in navigating your labor contracts and ensuring your company’s success!

[ohsalome]

In 2022, Russia has redirected a significant portion of its energy exports to China and India.

Countries that have scaled back their trade with Russia most drastically include the U.S., the UK, Japan and Singapore. Germany continues to be the source of a large share of Russia’s imports despite significant reductions.

Sanctions have significantly reduced the trade between Russia and the US. By October 2022, Russia’s exports to the US had fallen by almost 50% compared to 2021. During the same period, US exports to Russia declined by $2.5 bln compared to the previous year.

The sanctions regime, closely coordinated by the US and EU, was able to disrupt the Kremlin’s direct access to western technology in the short term.

Russia established alternative routes fairly quickly with imports of dual-use and controlled commodities now exceeding pre-war levels.

Evasion routes can be detected with macro-data analysis, for example, by correlating the chronology of relevant events (e.g., the onset of Russia’s military assault on Ukraine in late February 2022, the western imposition of sanctions) with significant shifts in goods’ origin, volume supplied by trading partner, and their position as share of overall trade with Russia by each respective partner.

Our data shows that countries most actively facilitating circumvention of wartime sanctions by Russia include: China, Turkey, Cyprus and the UAE.

In 2022, China became Russia’s most important trade partner, receiving about 20% of Russia’s total exports and serving as the source of 35% of Russia’s total imports.

US sanctions have resulted in a significant decline in the monetary value of global transactions by designated Russian companies, but did not eliminate them.

Sanctions have not stopped Russia’s import of controlled and dual use high tech goods critical to its ability to wage war on Ukraine, such as UAV/parts and microprocessors/semiconductors.

UAV deliveries continued to Russia as late as November and December from UAE, Hong Kong, China, and Singapore.

Russia’s imports of microprocessors/semiconductors increased from $1.82 bln in 2021 to $2.45 bln in 2022 (for the year as a whole).

China has become Russia’s most important source of semiconductors and integrated circuits. In 2022, China, Hong Kong, Germany, the Netherlands and Finland led by dollar value of microchip sales to Russia; China, Hong Kong, Estonia, Turkey and Germany led by the number of transactions.

Despite sanctions, in 2022, Russia hit its highest current account surplus in history. The surplus in 2022 reached $227 billion, more than twice the previous record ($122 billion in 2021).

Russia has retained its access to vast amounts of foreign exchange, which has been critical to its ability to continue its war on Ukraine.

Sanctions have resulted in a 16% contraction of Russia’s imports in 2022 for the year as a whole.

The significant 35% contraction in the first few months of the war was followed by a recovery that we expect to be sustained in 2023.

Russia’s total exports increased by more than 30% between January-September 2022 over the corresponding period in 2021, driven mostly by oil and gas exports.

Since the start of the war, foreigners have paid Russia $190 bn for oil exports or $225 billion in the entirety of 2022 (comprising 11% of Russia’s GDP).

The delay in the EU embargo implementation and the G-7 price cap has weakened the effect of the EU embargo. For now, even data on Russian oil prices is limited. However, it appears Russian oil is selling already below the current price cap of $60

[hudsonmckenzie]

Is it possible for expats to buy property in UAE?

The UAE real estate industry offers fantastic opportunities for capital gains and investment. This market has been more accessible as a result of several modifications to the laws governing property ownership, particularly for foreign investors and expats. Foreigners are subject to different restrictions regarding property ownership than domestic owners, nevertheless. An UAE immigration lawyer summarises the applicable laws and numerous Emirate-specific laws for expats interested in real estate investment in the UAE.

In the UAE, foreigners could not purchase real estate until 2001 or 2002. Dubai originally allowed foreigners to purchase 99-year leasehold properties in 2001, and then allowed them to invest in freehold homes in 2002. Soon after, Ras Al Khaimah, Abu Dhabi, Sharjah, and Ajman appeared.In some designated regions, freehold and leasehold properties may be owned by expatriates in the UAE. Properties with a lease have a fixed-term possession agreement. According to the leasing agreement, the property is owned by the foreign owner but not the land. Properties that are freehold suggest that the expat owns both the building and the land on which it is situated.

Leaseholder ownership implies that for the duration of the contract, the expatriate only owns the unit and not the land. When the period is over, the agreement may be extended, and the foreigner is only partially liable for repairs. Only the consent of the freehold owner is required for any significant improvements. Additionally, with limitations, the expat may sublease the house or keep pets.

Freehold, on the other hand, grants the owner total authority over both his property and the land. If a project complies with the developer's specifications and local legislation, owners are free to make significant alterations like renovations and remodelling as they see fit. After the owner passes away, the property is given to the heir. The owner can benefit from the high ROI by leasing or selling the property.

Specific guidelines for purchasing real estate in each of the Emirates

It's interesting how different emirates have different property ownership laws. Here is a quick summary of the unique regulations of the various Emirates:

Purchasing a home in Dubai

According to a leading UAE immigration lawyer, expats are permitted to own freehold properties in specified freehold regions and leasehold properties in Dubai. There is no restriction on age to buy real estate in Dubai; the laws are the same for both resident foreigners and non-resident investors. The title deeds are issued by the Land Department.

Article 3 of Regulation No. 3 of 2006 Determining Areas for Ownership by Non-Nationals of Real Property in the Emirate of Dubai applies to freehold properties.

In nine authorised investment districts in Abu Dhabi, foreign nationals are permitted to purchase flats and villas. Al Reef, Lulu, Masdar City, Mariya, Reem, Saadiyat, Sayh Al Sedairah, and Yas Islands are among them. However, Abu Dhabi does not allow foreigners to own or purchase land.

In this Emirate, there are four types of property ownership systems:

Ownership - For 99 years, the expat enjoys complete ownership of the flat or floor, and he or she is free to sell it. The deed does not, however, mention the ground on which the property is situated.

The Musalaha system allows foreigners to purchase residential properties in accordance with the Masataha contract. After the first 50-year term expires, it may be renewed. Owners are free to use the property during the period and carry out upgrades, alterations, constructions, renovations, etc.

Usufruct: For a period of 99 years, the expatriates may own and use the apartment, but they are prohibited from making any changes to the building.

Long-term lease: In Abu Dhabi, foreigners are permitted to lease homes for up to 25 years.

Law No. 19 of 2005 Concerning the Regulation of the Real Estate Sector, which is applicable in Abu Dhabi, sets down the rules governing foreigners' ownership of real estate. A few changes were made to the Abu Dhabi Real Estate Law in April 2019. There were changes to Articles 3 and 4. According to Article 3(i), foreign nationals are only permitted to acquire one of three types of property:

· UAE nationals, whether they be legal or natural individuals.

· Not more than 49% of public holding businesses owned by non-nationals.

·If the President of the Executive Council of Abu Dhabi makes a choice for someone.

Non-UAE nationals are permitted to own real estate properties in the aforementioned defined locations, in accordance with Article 3(ii). Original and in-kind legal rights to real estate are also permitted. According to Article 4, musataha and usufruct owners who have owned a property for more than 10 years are allowed to sell or mortgage it without the landlord's permission. In contrast, the landlord is not permitted to mortgage the flat without the holder of the usufruct or the musataha's consent.

[omgharrythings]

Legal Translation for Court Documents: Ensuring Accuracy in the UAE Legal System

Legal Translation for Court Documents: Ensuring Accuracy in the UAE Legal System

In the UAE, legal proceedings require precision, especially when dealing with multilingual court documents. Legal translation is crucial for ensuring that all parties understand the content and intent of court documents accurately, preventing misunderstandings and legal complications. At Word Translation, we specialize in certified legal translation services that meet the strict requirements of the UAE legal system. Whether it's a contract, witness statement, or legal affidavit, our team ensures that every translated document maintains the original’s intent and clarity.

Why Legal Translation is Vital for Court Documents in Dubai

In Dubai’s multicultural environment, legal translation is often a legal necessity to ensure documents are accurately represented in Arabic, the official language of the UAE court system. Legal translation also eliminates the risk of misinterpretation, as even minor translation errors can lead to disputes or impact the outcome of a case. By choosing Word Translation, clients benefit from certified translations that meet Dubai’s stringent court standards.

The Importance of Certified Legal Translation for Court Proceedings

1. Accurate Representation of Legal Terminology

Legal terms often carry specific implications in different languages. Certified legal translators at Word Translation ensure that translations are precise, accurate, and legally sound. For instance, the Arabic translation for terms like “liability” or “intellectual property” must retain their exact legal significance to avoid confusion.

2. Compliance with UAE Court Requirements

Legal documents submitted to UAE courts must be in Arabic or translated by a certified legal translation service. Our translations are UAE-certified and meet all formal legal requirements, allowing clients to submit court documents with confidence.

3. Reducing the Risk of Misinterpretation

The slightest misinterpretation in legal translation could change the meaning of a document. Certified legal translators are skilled in translating complex legal phrases and clauses accurately, preventing any risk of miscommunication.

Common Court Documents That Require Legal Translation in Dubai

1. Contracts and Agreements

Any contract or agreement used as evidence in court must be translated accurately. Contracts involve precise terms and conditions, and their translation must match the original exactly. Our legal translation services ensure all nuances and legal implications are accurately conveyed.

2. Witness Statements and Affidavits

Witness statements, sworn declarations, and affidavits often require certified translation for submission to UAE courts. Any discrepancy can lead to misunderstandings in court proceedings, impacting the witness’s credibility or the case outcome.

3. Judgments and Court Orders

Past judgments or court orders must be translated precisely for use in current cases. At Word Translation, we ensure that all legal terms, implications, and conditions in these documents are preserved to meet court standards.

4. Power of Attorney and Authorization Documents

Power of Attorney (POA) documents must often be translated for legal representatives or agents involved in court cases. Certified translations of POA documents ensure that the representative’s rights and limitations are clearly defined.

The Process of Legal Translation for Court Documents

Step 1: Consultation and Document Analysis

Our team begins by understanding the purpose and context of the court document. This step is crucial for identifying specific legal terminology and ensuring accuracy in translation.

Step 2: Certified Legal Translation

Certified legal translators at Word Translation handle the translation process. Each document undergoes multiple checks to ensure compliance with UAE legal standards.

Step 3: Quality Assurance and Certification

Every document is reviewed by our expert team to ensure accuracy. We then provide a certification stamp, making the translation official for use in UAE courts.

Step 4: Submission Ready

Once completed, the document is ready for submission to UAE courts, meeting all legal and linguistic requirements for admissibility.

Benefits of Choosing Word Translation for Court Document Translation

Certified and Trusted: We provide certified legal translation for all types of court documents, meeting the UAE’s strict legal standards.

Experienced Legal Translators: Our translators specialize in legal terminology, ensuring accuracy and reducing the risk of misinterpretation.

Reliable Service: With our experience and commitment to quality, Word Translation is trusted by individuals and businesses across the UAE for certified document translations.

Final Thoughts

Legal translation is crucial for accuracy and compliance in Dubai’s judicial system. From contracts to court orders, accurate translation upholds the integrity of the legal process and ensures fair representation for all parties. At Word Translation, we deliver precise, certified translations to support legal proceedings, ensuring your documents meet all UAE requirements for accuracy and compliance.

[rsp-uae]

UAE Company Formation Explained: Your Essential Roadmap to Starting a Business in the Emirates

Starting a business in the UAE offers numerous opportunities for entrepreneurs worldwide, making it a highly sought-after destination for investment. UAE company formation is popular due to the country’s stable economy, strategic location, and business-friendly regulations. However, establishing a business in the UAE involves understanding the various company structures, legal requirements, and visa options. This guide provides an essential roadmap to UAE company formation, highlighting the advantages, key steps, and tips for choosing the best setup for your needs.

Understanding the Types of Business Entities in the UAE

The UAE offers three primary options for company formation, each designed to suit various business needs, market reach, and operational goals. Understanding these options is essential for determining the most suitable structure for your business.

Mainland Company

A Mainland Company provides access to the local UAE market and the flexibility to operate across all emirates without restrictions. It allows companies to bid on government projects and contracts, which can be particularly beneficial for businesses targeting public sector opportunities.

Ownership: Recent regulations have allowed 100% foreign ownership in most sectors, making it easier for foreign investors.

Scope of Operation: Mainland companies can conduct business both within and outside the UAE, providing extensive operational flexibility.

Free Zone Company

A UAE Freezone Company offers significant benefits for businesses focused on international trade or services. Free zones are special economic areas designed to attract foreign investments, with tailored tax incentives and streamlined processes.

Ownership: Free zone companies can be 100% foreign-owned, making them ideal for international entrepreneurs.

Benefits: Tax exemptions, customs privileges, and quick setup times are among the primary advantages. However, these companies generally have limitations on conducting direct business within the UAE mainland.

Offshore Company

Offshore companies are a popular choice for businesses that don’t need a physical presence in the UAE but want to benefit from tax efficiency and asset protection. These companies primarily cater to businesses engaged in international trading, holding, and asset management.

Ownership: Offshore companies can also be 100% foreign-owned.

Benefits: Offshore setups provide robust tax planning options, and privacy protection, and are recognized as legitimate legal entities for global business operations. However, they are restricted from conducting business within the UAE itself.

Key Benefits of UAE Company Formation

The UAE offers an attractive business environment, driven by its forward-thinking policies and incentives for both local and international entrepreneurs.

Tax Benefits: One of the primary advantages of establishing a company in the UAE is the tax environment. Free zones and offshore companies, in particular, benefit from 100% income tax and customs duty exemptions.

Investor Visa UAE: Setting up a company can grant eligibility for an Investor Visa, allowing business owners, shareholders, and their families to reside in the UAE. This visa option can range from three to ten years depending on the investment type and amount, providing long-term stability.

Strategic Location: The UAE is a prime gateway between Asia, Europe, and Africa, making it an excellent base for businesses involved in import-export, logistics, and tourism.

Stable Economy and Business-Friendly Environment: The UAE’s political stability, well-developed infrastructure, and supportive business regulations create a conducive environment for business growth and expansion.

Steps to Setting Up a Company in the UAE

Understanding the process and requirements involved in UAE company formation can streamline your journey and help avoid common pitfalls.

Select Your Business Activity

Determine the nature of your business activity, as each type may require specific licenses and permissions. Activities are classified broadly, including commercial, professional, and industrial licenses, and the regulations vary across free zones and mainland jurisdictions.

Choose the Right Jurisdiction

Decide whether a mainland, free zone or offshore company structure best aligns with your business objectives. Mainland companies are ideal for businesses targeting the UAE market, while free zone companies suit those focused on international operations. Offshore setups are beneficial for holding companies and businesses seeking asset protection and tax efficiency.

Register Your Trade Name

Choosing a unique trade name is a requirement for any UAE business. It must comply with the UAE’s naming conventions and not include any offensive or religiously sensitive terms. Trade name approvals are handled by the Department of Economic Development (DED) for mainland companies or by the respective free zone authority.

Obtain the Necessary Licenses

The type of license you apply for will depend on your business activity. Commercial, professional, and industrial licenses are the most common categories in the UAE. Free zones and mainland companies may have different licensing processes, so be sure to adhere to your chosen jurisdiction's requirements.

Apply for an Investor Visa UAE

An Investor Visa grants you and your family the legal right to reside in the UAE and conduct business. Investor Visa UAE is typically valid for three years, with options for renewal. Some UAE free zones also offer multi-year investor visas, providing further stability for long-term residency and investment in the region.

Open a Corporate Bank Account

Opening a bank account is an essential step to ensure smooth business operations. UAE banks offer dedicated services to help with account setup, requiring documents such as company registration, business licenses, and proof of residency.

Ensure Compliance with UAE Regulations

Each jurisdiction has its own set of rules, from tax obligations to reporting standards. Offshore and free zone companies may need to adhere to international tax compliance requirements, while mainland companies must follow UAE tax laws and other relevant business regulations.

Choosing the Best Location for Your UAE Freezone Company

With over 40 free zones across the UAE, each offers unique benefits tailored to various industries, from technology and media to finance and healthcare.

Dubai: Known for its well-developed infrastructure and international reach, Dubai free zones, such as Jebel Ali and Dubai Silicon Oasis, are popular choices for tech, logistics, and media companies.

Abu Dhabi: With a focus on sustainable energy and innovation, Abu Dhabi free zones, like Masdar City and Abu Dhabi Global Market, are ideal for finance and energy sector businesses.

Sharjah and Northern Emirates: Offering more cost-effective setups, free zones in Sharjah, Ajman, and Ras Al Khaimah cater to SMEs and startups looking for budget-friendly options.

Offshore Companies and Global Business

An Offshore Company in the UAE provides significant privacy and asset protection advantages. While these companies cannot operate directly within the UAE, they are an excellent option for global trading, asset management, and holding investments.

Asset Protection: Offshore structures allow you to shield assets from future legal disputes, protecting personal wealth.

International Banking: Offshore companies can open offshore bank accounts, providing flexibility for international transactions and efficient tax planning.

Important Considerations for UAE Company Formation

Understanding a few critical considerations can help streamline your UAE company formation experience.

Local Regulations: Keep updated on regulatory changes that may affect your industry and jurisdiction.

Annual Renewals: Business licenses and permits require annual renewal, and staying compliant with UAE authorities is essential to maintaining your company’s status.

Legal Guidance: Consulting with a legal expert familiar with UAE business laws can provide clarity on structuring options, legal requirements, and procedural nuances.

Conclusion

UAE company formation offers vast potential for business growth, global market access, and tax advantages. By selecting the right type of company structure—whether mainland, free zone or offshore—you can tailor your setup to align with your business goals. With well-defined steps for registration, obtaining necessary licenses, and securing an Investor Visa, the UAE provides a comprehensive support system for aspiring entrepreneurs. From the vibrant business ecosystems in Dubai and Abu Dhabi to cost-effective options in Sharjah, UAE company formation can be the perfect gateway for expanding your business in the Middle East and beyond. Embrace the opportunities the UAE offers and take your business ambitions to new heights.

UAE Offshore Company

[dm-blogs]

Unleash Peace of Mind with Infiway's Comprehensive AMC Packages in the UAE

Finding a reliable and affordable AMC (Annual Maintenance Contract) provider in the UAE can be a daunting task. With so many companies offering various packages, it's crucial to choose one that caters to your specific needs and budget. This is where Infiway steps in. As a leading provider of IT solutions and services in the UAE, Infiway offers a range of AMC packages designed to keep your devices and systems running smoothly throughout the year.

Why Choose Infiway for Your AMC Package Needs?

There are several reasons why Infiway should be your top choice for an AMC package in the UAE:

Expertise and Experience: Our team of certified engineers possesses extensive knowledge and experience in handling a wide array of IT equipment and systems. We stay updated on the latest technologies and are equipped to address any issues that may arise.

Customized Solutions: We understand that every business has unique IT needs. That's why we don't offer a one-size-fits-all solution. Instead, we work closely with you to develop a customized AMC package that aligns perfectly with your requirements.

Preventive Maintenance: Our AMC packages prioritize preventive maintenance to identify and address potential problems before they escalate into major downtime. This proactive approach saves you time, money, and frustration in the long run.

Prompt Response and Resolution: We understand that downtime can significantly impact your business operations. That's why we offer rapid response times and efficient resolution of any IT issues that may arise.

Cost-Effectiveness: Our AMC packages are competitively priced and offer excellent value for your money. By preventing costly repairs and downtime, you can achieve significant savings in the long run.

Tailored AMC Packages to Suit Your Requirements

Infiway offers a variety of AMC packages to cater to the diverse needs of businesses in the UAE. Here are some of our most popular options:

Basic AMC Package: This package provides preventive maintenance services, including regular checkups, cleaning, and software updates. It's ideal for businesses with a limited number of devices and a relatively simple IT infrastructure.

Comprehensive AMC Package: This package builds upon the Basic AMC Package by offering additional services such as on-site support, hardware and software troubleshooting, and priority response times. It's well-suited for businesses that rely heavily on their IT systems and require a higher level of support.

Enterprise AMC Package: This all-inclusive package is designed for large businesses with complex IT environments. It includes all the benefits of the Comprehensive AMC Package, along with extended support hours, dedicated account management, and proactive risk management strategies.

In addition to these standard packages, Infiway can also create customized AMC packages to meet your specific needs. Whether you require support for specific devices, software, or have unique requirements, our team can tailor a solution that ensures optimal performance and minimizes downtime.

Benefits of Choosing Infiway's AMC Packages

By opting for Infiway's AMC packages, you can enjoy a multitude of benefits:

Reduced Downtime: Our preventive maintenance approach helps identify and address potential issues before they escalate into major problems, minimizing downtime and ensuring smooth operations.

Enhanced Productivity: With your IT systems running efficiently, your employees can focus on core business activities, leading to increased productivity.

Improved Cost Management: Regular maintenance helps extend the lifespan of your IT equipment, saving you money on costly repairs and replacements.

Peace of Mind: Knowing that your IT infrastructure is in the hands of experienced professionals allows you to focus on running your business with confidence.

Get Started with Infiway's AMC Packages Today

Don't let IT worries hinder your business growth. Contact Infiway today to discuss your specific requirements and learn how our comprehensive AMC packages can help you achieve optimal performance and peace of mind. Our team of experts will be happy to create a customized solution that fits your budget and ensures the smooth operation of your IT systems throughout the year.

Infiway is your trusted partner for all your IT needs in the UAE. Choose us for reliable and cost-effective AMC packages that keep your business running smoothly.

[trinitygroup]

Setting up a mainland business in the UAE

Setting up a mainland company in the UAE offers numerous advantages for entrepreneurs looking to establish a foothold in one of the world’s most dynamic markets. A mainland business setup allows companies to operate freely across the UAE and engage in a wide range of activities without restrictions, making it an attractive option for both local and foreign investors.

One of the key benefits of a mainland company is the ability to secure contracts with government entities, which can significantly enhance business prospects. Additionally, mainland businesses can operate in any area of the UAE and are not limited to specific free zones, providing access to a broader customer base.

To set up a mainland business, entrepreneurs must obtain a trade license from the Department of Economic Development (DED) in their respective emirate. This process involves selecting a business activity, choosing a suitable business name, and fulfilling various legal requirements, including obtaining approvals and permits.

While the initial setup may seem complex, the long-term benefits, such as full ownership options and increased market reach, make mainland business setup a strategic choice for those aiming to thrive in the UAE’s vibrant economy. With the right support and guidance, entrepreneurs can successfully navigate the setup process and embark on their business journey.

[mahosop]

Comprehensive Guide to Business Setup in Dubai Mainland, Free Zones, and E-commerce with Visa

Dubai, known as the “City of Gold,” has established itself as one of the world’s most sought-after destinations for business opportunities. With its strategic location, favorable tax environment, world-class infrastructure, and diverse economic sectors, Dubai attracts investors from around the globe. Setting up a business in Dubai opens doors to the Middle Eastern market and beyond, and the process is streamlined, with various options depending on the nature and scale of your venture.

This blog explores different aspects of business setup in Dubai mainland, business setup in Dubai free zone, company formation in Dubai, and obtaining an e-commerce license in Dubai with a visa. Whether you’re an entrepreneur looking to expand your business globally or a digital nomad venturing into e-commerce, Dubai provides a gateway for endless growth.

Business Setup in Dubai Mainland

Dubai mainland refers to the geographical areas in Dubai governed by the Department of Economic Development (DED). Unlike free zones, mainland businesses have the freedom to operate within the UAE market as well as outside it. Mainland companies can engage in direct trade and offer services without the restrictions imposed on free zone companies.

Advantages of Setting Up a Business in Dubai Mainland

Access to the Local Market: One of the key benefits of mainland companies is their ability to operate and trade freely within the UAE market. This is crucial for businesses looking to serve local customers and establish a presence in the region.

No Limitations on Business Activity: Mainland companies can engage in various business activities, from trading and manufacturing to professional services. The DED provides a wide range of activity options for entrepreneurs to choose from.

Government Contracts: Mainland businesses are eligible to bid for lucrative government contracts and projects, which is a significant advantage given Dubai’s continuous development.

No Capital Requirement for Some Licenses: Many licenses, such as professional service licenses, do not require minimum capital investment, making mainland setup a flexible option for small to large enterprises.

Flexible Office Locations: Mainland businesses are not restricted to certain geographical locations like free zone companies. You can choose office space in prime locations across Dubai, enhancing visibility and accessibility.

Process of Mainland Business Setup in Dubai

Choose a Business Activity: The first step in setting up a mainland business is selecting the appropriate business activity from the DED’s list. Ensure the activity aligns with your business goals.

Select a Legal Structure: The common legal structures include Limited Liability Company (LLC), Sole Establishment, or Civil Company, depending on the number of partners and the nature of the business.

Trade Name Reservation: Once the business activity is selected, the next step is to reserve a trade name with the DED. The name should not be offensive or previously registered.

Apply for Initial Approval: The DED provides an initial approval certificate that allows you to proceed with the remaining steps.

Get a Local Sponsor (for LLC): For certain business structures, such as LLCs, you’ll need a local Emirati sponsor who will own 51% of the business. However, 100% foreign ownership is allowed in professional service businesses.

Obtain the License: After fulfilling all legal requirements, the business license will be issued. The most common types of licenses include commercial licenses, professional licenses, and industrial licenses

Mainland License Costs and Fees

The cost of setting up a mainland business in Dubai varies depending on the nature of the business and office location. On average, the total cost can range from AED 15,000 to AED 30,000, including government fees, sponsor fees, and office rentals.

Business Setup in Dubai Free Zones

Dubai is home to more than 30 free zones, each tailored to specific industries like media, IT, finance, and manufacturing. Free zones are designated areas that offer a host of benefits, including 100% foreign ownership, zero corporate tax, and customs duty exemptions.

Advantages of Setting Up a Business in Dubai Free Zones

100% Foreign Ownership: Unlike mainland companies that require a local sponsor, free zone businesses can be fully owned by foreign nationals, making them attractive to international investors.

Tax Exemptions: Free zone companies enjoy zero corporate taxes, zero personal income taxes, and 100% repatriation of profits. This tax-friendly environment is a key reason businesses choose free zones.

Customs Duty Exemption: Companies operating in free zones are exempt from customs duties on goods imported into the zone.

Industry-Specific Ecosystems: Free zones cater to specific industries, such as Dubai Media City, Dubai Internet City, and Jebel Ali Free Zone, allowing businesses to benefit from industry-specific infrastructure and resources.

Fast and Simple Setup: The company formation process in free zones is relatively quick, often taking as little as one week, with minimal bureaucratic requirements.

Process of Free Zone Business Setup in Duba

Select the Free Zone: Choose a free zone that best suits your business type. For example, if you’re in the tech industry, Dubai Silicon Oasis may be ideal, whereas Dubai Multi Commodities Centre (DMCC) is suitable for trading businesses.

Determine the Business Activity: Like mainland businesses, free zone companies must select a business activity from the relevant authority’s approved list.

Submit License Application: Submit the business license application along with the necessary documents, including passport copies, business plan, and trade name options.

Lease Office Space: Free zones offer flexi desks or permanent office spaces depending on your business needs. Leasing office space is mandatory for obtaining the business license.

Obtain the License: Once the paperwork is in order, the free zone authority will issue the business license.

Free Zone License Costs and Fees

Free zone setup costs vary significantly depending on the location and office type. The average cost is around AED 10,000 to AED 25,000. Additionally, you’ll need to pay for office space, which can range from AED 10,000 to AED 50,000 annually.

Company Formation in Dubai

Whether you choose the mainland or a free zone, company formation in Dubai involves key steps such as selecting a legal structure, obtaining a license, and securing office space. Entrepreneurs can choose between setting up an LLC, branch office, or a representative office, depending on their needs.

Popular Company Formation Types in Dubai

Limited Liability Company (LLC): An LLC is the most common type of business structure in Dubai. It requires a minimum of two shareholders and allows for local and international trade.

Free Zone Establishment (FZE): An FZE is a free zone entity that is 100% owned by a single shareholder.

Branch Office: International companies looking to establish a presence in Dubai can open a branch office. This allows for 100% foreign ownership, though the branch must represent the parent company.

Professional Services Company: This is ideal for businesses providing professional services (e.g., consulting, legal services) and can be fully owned by foreigners.

E-commerce License in Dubai with Visa

The booming digital landscape in Dubai has made it an attractive destination for e-commerce businesses. An e-commerce license in Dubai allows entrepreneurs to trade products and services online, and the process for obtaining the license is straightforward.

Process of Obtaining an E-commerce License in Dubai

Choose the Jurisdiction: Decide whether to set up your e-commerce business in a free zone or on the mainland. Dubai CommerCity and Dubai Silicon Oasis are popular free zones for e-commerce businesses.

Apply for the License: Submit an application to the relevant authority with details about the business activity, shareholders, and trade name.

Lease Office Space: Even for e-commerce, you must lease an office in Dubai. Many free zones offer virtual offices or flexi desks to reduce costs.

Visa Application: Upon obtaining the e-commerce license, you can apply for residency visas for yourself and your employees.

Cost of E-commerce License in Dubai with Visa

The cost of an e-commerce license ranges from AED 10,000 to AED 30,000, depending on the jurisdiction. This typically includes the cost of the license, office space, and visa quotas.

Advantages of E-commerce License with Visa

100% Ownership: As with free zone businesses, e-commerce businesses can be 100% foreign-owned.

Multiple Visa Quotas: You can sponsor employees, family members, or partners through the visa associated with your e-commerce business

Access to a Growing Market: With high internet penetration and a tech-savvy population, the UAE is an excellent market for e-commerce growth.

Conclusion

Business setup in Dubai, whether on the mainland, in a free zone, or the e-commerce sector, offers a plethora of benefits. From tax advantages to flexible ownership options and access to international markets, Dubai provides the perfect environment for businesses of all sizes to thrive. Whether you’re considering company formation in Dubai or exploring opportunities to secure an e-commerce license in Dubai with a visa, the city is a hub for growth, innovation, and success.

[gtmmee]

Company Setup in UAE: A Complete Guide to Starting Your Business

Why Set Up a Company in the UAE?

The UAE is known for its robust economy, low taxation, and business-friendly environment. Key benefits include:

Tax Advantages: The UAE offers a zero-corporate tax policy for most industries, with no personal income tax, making it a tax haven for businesses.

Strategic Location: Positioned at the crossroads of Europe, Asia, and Africa, the UAE is ideal for businesses that require access to major global markets.

Free Zones: The UAE boasts numerous free zones where companies can enjoy 100% foreign ownership, Company Setup UAE zero customs duties, and no currency restrictions.

Infrastructure: The UAE provides world-class infrastructure with state-of-the-art ports, airports, and logistics networks, facilitating international trade and commerce.

Stability and Security: The UAE is politically stable and offers a secure environment for both residents and businesses.

Types of Business Entities in the UAE

When setting up a company in the UAE, it’s essential to choose the right business structure. The most common types are:

Mainland Company: A mainland company allows you to trade anywhere within the UAE and internationally. However, mainland companies require a local sponsor or partner who holds 51% ownership in the business. This is suitable for businesses that wish to operate directly in the local market or bid for government contracts.

Free Zone Company: Free zones are designed to encourage foreign investment and offer 100% foreign ownership. Companies set up in free zones can operate within the zone or trade internationally but are limited in their ability to conduct business within the UAE market without the help of a local distributor. Free zone companies are ideal for import-export, IT services, and consultancy firms.

Offshore Company: Offshore companies are not physically based in the UAE but can be used for asset protection, international trading, Uae Company Setup Cost and tax optimization. These companies are typically established for holding assets or conducting global business without being subject to UAE taxation.

Steps to Set Up a Company in the UAE

The process of setting up a company in the UAE can vary depending on the type of business and its location. However, here are the general steps:

 Choose the Business Activity

Your business activity will determine the type of license you need. The UAE categorizes licenses into commercial, professional, industrial, and tourism licenses.

Select the Legal Structure

Choose the appropriate legal structure for your business, such as a sole proprietorship, limited liability company (LLC), or branch of a foreign company.

Select a Location

Decide whether to establish your company in the mainland or one of the free zones. Research each option carefully based on your business needs and target market.

Register the Trade Name

Choose a unique trade name that aligns with your business activity. Make sure it complies with the UAE’s naming conventions and get it registered with the Department of Economic Development (DED) or the relevant free zone authority.

Obtain Initial Approvals

Apply for initial approvals from the necessary authorities. You may need special approvals depending on your industry, such as healthcare, finance, or education.

Draft Legal Documents

Prepare the necessary legal documents, including the Memorandum of Association (MOA) and Articles of Association (AOA). You’ll also need to notarize these documents.

Secure an Office

In the UAE, all businesses must have a physical office. Free zone companies can opt for flexi-desks or virtual offices, while mainland companies must secure physical office space.

Apply for Licenses

Submit all required documents to obtain your business license. You may also need additional permits depending on your business activity.

Visa Processing

Once your business license is approved, you can apply for visas for yourself, employees, and dependents.

[ofw-job-orders]

Filipino Admin Assistants in Kazakhstan (2010s): Agency Roles, Education, and Employment

The 2010s witnessed a significant rise in the number of Overseas Filipino Workers (OFWs) seeking opportunities abroad, driven by the promise of better wages and a brighter future for their families back home. Among these OFWs, administrative assistants emerged as a substantial group, venturing into diverse locations, including the often-overlooked destination of Kazakhstan. This article delves into the experiences of Filipino administrative assistants in Kazakhstan during the 2010s, exploring the role of recruitment agencies, the challenges and triumphs they faced, and the crucial intersection of education, scholarships, and employment opportunities.

The allure of Kazakhstan for Filipino administrative assistants stemmed from several factors. The country's burgeoning economy, fueled by its vast natural resources, created a demand for skilled workers, including those in administrative and clerical roles. While countries like Saudi Arabia, the UAE, and Singapore remained popular destinations, Kazakhstan offered a different landscape, a unique cultural experience, and potentially less competition. Furthermore, the relative ease of obtaining visas for certain skilled professions made Kazakhstan a viable option for Filipinos seeking quicker employment abroad.

Recruitment agencies played a pivotal role in facilitating the migration of Filipino administrative assistants to Kazakhstan. These agencies acted as intermediaries, connecting prospective OFWs with employers in Kazakhstan. They handled the complex processes of visa applications, work permits, and pre-departure orientations. However, this reliance on agencies also exposed some OFWs to vulnerabilities. Stories of exorbitant placement fees, contract discrepancies, and inadequate pre-departure briefings became common, highlighting the need for stricter regulation and oversight of recruitment practices. The lack of transparency and accountability within some agencies often left OFWs feeling exploited and ill-equipped to navigate the challenges of working in a foreign land.

Life for Filipino administrative assistants in Kazakhstan during the 2010s presented a mixed bag of experiences. While some found themselves working in well-established multinational companies with supportive work environments, others encountered challenges adapting to the local culture, language barriers, and sometimes, less than ideal working conditions. The harsh Kazakh winters also posed a significant adjustment for many Filipinos accustomed to a tropical climate.

Beyond the immediate concerns of employment, a recurring theme emerged among these OFWs: the desire for continuous learning and professional development. Many recognized that enhancing their skills and qualifications would be crucial for career advancement, both in Kazakhstan and upon their eventual return to the Philippines. This aspiration for upskilling underscored the importance of scholarships and educational opportunities tailored to the needs of OFWs.

Several initiatives emerged during this period aimed at addressing this need. Organizations like the Overseas Workers Welfare Administration (OWWA) offered scholarship programs for OFWs and their dependents, covering various fields of study. Some universities in the Philippines also established distance learning programs, allowing OFWs to pursue higher education while working abroad. However, access to these opportunities remained uneven. Financial constraints, time limitations due to demanding work schedules, and limited internet access in some areas posed significant barriers for many OFWs seeking to further their education.

The intersection of education and employment opportunities became increasingly critical for Filipino administrative assistants in Kazakhstan. Those with higher educational qualifications and specialized skills often found themselves in greater demand and commanded higher salaries. The ability to speak Russian or Kazakh, in addition to English, also proved advantageous in navigating the local workplace and integrating into the broader community.

The desire for professional growth also fueled the entrepreneurial spirit of some OFWs. Equipped with the skills and experience gained from their administrative roles, some ventured into setting up small businesses, catering to the needs of the Filipino community in Kazakhstan or exploring opportunities in the local market. This entrepreneurial drive not only empowered individual OFWs but also contributed to the economic dynamism of their host country.

The narrative of Filipino administrative assistants in Kazakhstan during the 2010s is a complex tapestry woven with threads of resilience, ambition, and the unwavering pursuit of a better future. It is a story of individuals navigating the challenges and embracing the opportunities of working abroad, driven by the desire to uplift their families and contribute to their home country.

The need for continued support and empowerment of OFWs remains paramount. Strengthening regulatory frameworks for recruitment agencies, ensuring fair labor practices, and expanding access to scholarships and educational opportunities are crucial steps in fostering a more equitable and sustainable environment for OFWs. Platforms like OFWJobs.org provide valuable resources and information for OFWs seeking employment opportunities abroad, connecting them with potential employers and facilitating access to relevant information.

Furthermore, fostering stronger ties between the Philippine government, educational institutions, and private sector organizations can create a more cohesive and effective support system for OFWs. This collaborative approach can help ensure that OFWs are equipped with the necessary skills and resources to thrive in their chosen fields, maximize their earning potential, and contribute meaningfully to the global economy.

The experiences of Filipino administrative assistants in Kazakhstan during the 2010s offer valuable insights into the broader narrative of OFW migration. Their stories highlight the importance of ethical recruitment practices, access to quality education, and the need for continuous support and empowerment of OFWs. By addressing these critical issues, we can create a more just and equitable landscape for OFWs, ensuring that their contributions are recognized, their rights are protected, and their dreams of a brighter future are realized. Investing in the development and well-being of OFWs is not only a moral imperative but also a strategic investment in the future of the Philippines. Their remittances contribute significantly to the national economy, and their skills and experiences, honed through working abroad, represent a valuable asset for the country's long-term development. As the global landscape continues to evolve, the need to support and empower OFWs will remain crucial in ensuring their continued success and contribution to both their host countries and their homeland.

[christophernewsexpress]

Arabic press review: Dubai court convicts Saudi labour minister of fraud

Meanwhile, the Islamic State is reportedly still 'present' and 'strong' in Syria, and 70,000 expats are due to leave Kuwait in 2021

UAE court convicts Saudi labour minister

A Dubai court convicted Saudi Minister of Labour Ahmed al-Rajhi of fraud and handed him a $450m fine (1.6 billion Emirati dirhams) in favour of the Palestinian-Canadian businessman Omar Ayesh in the fraud case related to Tameer Holding Investment, reported Arabi21.

The court ruled to charge Rajhi an annual nine percent interest on the amount of the fine, starting from 12 March 2017 until the completion of payment, according to the verdict issued in Dubai on 25 November.

The court also required Rajhi to pay Ayes, who holds 25 percent of shares in Tameer Holding Investment, $2.8m in compensation for material and moral damages.

The case was filed when the Saudi minister and four of his brothers seized the properties and assets of Tameer Holding Investment, including the shares of its founder, Ayesh, and hundreds of other clients, according to Arabi21. 

The International Justice Mission (IJM) in Washington commented on the case, saying that it "will continue to expose all corrupt individuals, regardless of their position or seniority".

The ruling, in this case, adds to the institution’s inventory of evidence that will be presented to the relevant anti-corruption authorities, including the Saudi Oversight and Anti-Corruption Authority.

Syria: IS still present 

The Islamic State (IS) group is still present in the Syrian territory despite the fact that the US-led coalition announced its defeat in March of last year, according to a report by the Saudi Asharq Al Awsat newspaper.

The presence of IS is evidenced by the escalation of attacks on Syrian government forces and the Syrian Democratic Forces (SDF), each in its own areas of influence. 

Meanwhile, military operations launched by the SDF in cooperation with the coalition, in addition to the Russian-backed security operations launched by the forces of the Syrian government, aim to confront the organisation's cell, the paper said.

“IS continues its dramatically escalating activities in separate areas of the Syrian Badia, targeting pro-regime forces and militias,” the report said.

“The past month witnessed continuous intensifying battles, bombing and attacks, as part of attempts by the Syrian regime and Russia to limit the organisation's activity,” it added.

Last month, IS managed to kill 92 members of pro-regime forces and militias through ambushes, bombings and clashes in the Syrian Badia, according to the Syrian Observatory for Human Rights, as cited by the newspaper.

The Observatory also stated that the death toll from 24 March 2019 to the present-day has reached 1,020 among government fighters and loyalist militants, including at least two Russians, in addition to 140 pro-Iran foreign mercenaries, all of whom were killed during attacks, bombings, and ambushes staged by IS. 

70,000 expats to leave Kuwait in 2021

Over the next year, more than 70,000 expatriates will leave Kuwait in fulfilment of a previous decision not to renew contracts of foreign employees aged 60 and older with limited qualifications, reported the Kuwaiti newspaper Al-Anba.

Government sources said that "there will be no second thoughts, exceptions, or amendments to the decision", noting that only expats who have children working in Kuwait and meet the conditions and requirements will be allowed to transfer their residency permits to their offspring, according to the newspaper.

The Public Authority for Manpower has prepared the list of names of expats who will be expelled, adding that the implementation of the decision will begin in early January, according to sources.  

The new measures are part of the government's plan to reduce the number of expats in the country in order to create vacancies for Kuwaiti citizens.

Last October, the government said it had an ambitious plan to deport 70 percent of expatriate workers, including low-skilled and illiterate labourers, estimated to be at 1 million immigrants.

[arabia-news]

Saudi Arabia Hired US Contractors To Procure Weapons That Ended Up In Hands Of ISIS Terrorists In Yemen

US-procured weapons have ended up in the hands of ISIS terrorists in Yemen, an investigation by Dilyana Gaytandzhieva says. The investigation is based on internal documents from two Serbian companies, which she received from anonymous sources.

The next part of the investigation includes scanned passports of US, Saudi and UAE arms dealers, as well as government officials exposing those behind the supplying of US-purchased weapons, produced in Serbia and delivered to ISIS fighters in Yemen.

In the initial part of the investigative report, Diliyana reminds of what she discovered in the previous one – 82 mm M74HE mortar shells KV lot 04/18 appeared in ISIS propaganda videos in Yemen.

She traced the documents, concluding that the two letters KV mean that those mortar shells were manufactured by the Serbian arms factory Krusik (K stands for Krusik and V – for Valjevo, the town where the factory is located). They were produced in 2018.

Then, the purchase was traced to the US company Alliant Techsystems LLC (a wholly owned subsidiary of ATK Orbital, USA) on behalf of the US Government. The Afghan Army was the end user and the weapons were to be delivered to an arms depot in Kabul, but they somehow appeared in the hands of ISIS terrorists.

The Serbian company that exported the mortar shells is called GIM, a private company, represented by the Serbian interior minister Nebojsa Stefanivic’s father – Branko Stefanovic. In addition, Nebojsa Stefanivic is also Serbia’s vice prime minister.

GIM signed four contracts with Saudi Arabia for the delivery of 517,000 pcs. of mortar shells from Krusik (one contract – in 2016, and three contracts – in 2018 respectively).

The companies on the Kingdom’s side are two companies – Rinad Al Jazira, Saudi Arabia and Larkmont Holdings LTD, registered in the British Virgin Islands, an offshore company. With the end user being the Ministry of Defense of Saudi Arabia.

A GIM letter dated 27 April 2017 to Krusik lists the names of three GIM representatives and three Raniad Al Jazira employees who visited the arms factory in order to inspect and accept the ordered weapons.

On the GIM names is Branko Stefanovic, the father of the aforementioned vice prime minister.

The three Saudi representatives listed were Muhammad Abdulkareem Alhassan (a Saudi national), Chadi Chaarani (a Lebanese national with a Canadian passport), and Zeid Haidar Abdel Rahman Madi (a Jordanian national).

For the sales to Larkmont Holdings LTD, the offshore company, evidence is provided via leaked emails, showing that Kusik sold the weapons to the Saudi Defense Ministry.

“There is no information about the owner of Larkmont Holdings LTD, British Virgin Islands. However, indirect links suggest Saudi ownership. According to the Cyprus Trade Registry, the offshore company is a shareholder in a local company, Milvards Limited, along with a Saudi national, Yousef Alotaibi. The company provides security services, general merchandise, and more.”

Furthermore, there appears to be evidence of corruption, as the weapons were purchased at a price much lower than internal documents of Serbian state-owned company Kusik reveal.

The company GIM, represented by the father of the Serbian vice prime minister, purchased the weapons which ended up in ISIS hands at a much lower price.

The leaked documents show that the state-owned arms manufacturer Krusik has been defrauded of hundreds of thousands of dollars intentionally to the benefit of the private arms company GIM.

Then, the transportation of the weapons goes back to a familiar company – Silk Way Airlines. In this case, the weapons were transported by flights of the company, or by sea from the port of Burgas, Bulgaria to Jeddah in the Kingdom.

Silk Way Airlines have so far been part of several investigative pieces showing that its diplomatic flights were used to transport weapons, which is, to put it simply, completely illegal.

Some of the most recent examples include a March 10th, 2019 shipment in which GIM re-exported Serbian weapons from the port of Burgas, in Bulgaria, to Jeddah, in Saudi Arabia, on the ship Bow Diamond, sailing under the flag of Gibraltar.

On June 28th, 2019, the Swiss cargo vessel Thorco Basilisk sailed from the port of Burgas, Bulgaria to Jeddah, Saudi Arabia, carrying 21 containers with 43,000 pcs. of Serbian mortar shells.

The Saudi Arabian Interior Ministry commissioned private US and UAE contractors (all of them US nationals) to purchase and transport the Serbian-produced weapons.

According to leaked documents, private contractors from the USA and UAE were tasked with the delivery of 20,000 pcs. of Grad rockets from Serbia to Saudi Arabia in 2017, 2018 and 2019.

It is noteworthy, that the Saudi army doesn’t use Grad rockets, and there is no end user listed in the documents.

In 2016 the Serbian company Krupnik signed a $ 69.72 million contract with the arms manufacturer Krusik for the delivery of 20,000 pcs. of 122 mm Grad rockets to Saudi Arabia.

The contractors weren’t mentioned in the contract, but leaked letters revealed their names, it also revealed that the grad rockets and mortar shells (some of them containing phosphorus) were taken from the factory by them.

On April 17th 2017, representatives of the Serbian exporter Krupnik visited the arms factory for final inspection of the ordered weapons along with a delegation of nine foreigners: two Saudis from the Ministry of Defense of Saudi Arabia, two Americans from Heptagon Global Trading, UAE, one American national from Armytrans Ltd., USA, one American from Tradewinds Logistics Group, USA, one Bulgarian and two Romanians, also from Tradewinds Logistics Group, USA.

These individuals were identified by their leaked passports.

[riyuberry-172]

Protecting Your Interests: Why Should You Have a Power of Attorney in UAE?

A Power of Attorney (POA) is a crucial legal document in the UAE, granting an individual or organization the authority to act on behalf of another in legal or financial matters. Whether you’re an expat managing properties or a business owner needing assistance with legal transactions, a POA ensures that your interests are taken care of when you are unavailable. In the UAE, where expatriates make up a significant portion of the population, POAs are often used for real estate, business transactions, or personal matters.

In this blog, we’ll delve into the importance of a POA, the types available in the UAE, and the process of creating one.

Types of Power of Attorney in the UAE

There are several types of POA available in the UAE, each serving different purposes. Choosing the right one depends on the level of authority you wish to grant.

General Power of Attorney A general Power of Attorney in Dubai grants broad authority, allowing the agent to handle most financial and legal matters on behalf of the principal. This can include managing bank accounts, selling or purchasing property, and conducting business operations. However, a general POA can be risky if not carefully managed, as it provides wide-reaching control.

Specific Power of Attorney A specific POA limits the agent’s powers to a particular task or responsibility. For example, you can grant a POA solely for managing a real estate transaction or signing business contracts. This is a more controlled way of granting authority and is often preferred when handling sensitive matters.

Medical Power of Attorney A medical POA allows the agent to make healthcare decisions for the principal in case they become incapacitated. This is particularly important in critical health situations, ensuring that someone trusted is making decisions in the principal’s best interest.

Durable Power of Attorney A durable POA remains in effect even if the principal becomes mentally incapacitated. In contrast, a non-durable POA would terminate if the principal loses the capacity to make decisions. This type of POA is essential for long-term financial or healthcare management.

The Importance of Power of Attorney in the UAE

A POA can be a lifesaver for individuals or businesses needing representation in legal or financial matters. For expats, it is particularly useful in managing assets in the UAE when they are not physically present in the country. It allows the appointed agent to handle critical responsibilities, ensuring smooth transactions without delays.

For business owners, a POA can authorize a trusted employee or partner to make business decisions, sign contracts, or manage financial matters, ensuring that operations continue seamlessly even in your absence.

Similarly, a POA is indispensable in personal matters such as buying or selling property, handling investments, or managing bank accounts when you’re abroad. The flexibility and convenience offered by a POA make it a powerful tool for managing legal and financial tasks efficiently.

Creating a Power of Attorney in the UAE

The process of creating a POA in the UAE is straightforward but requires precision. To ensure legal validity, the POA must be notarized by an authorized public notary. Here are the key steps to follow:

Drafting the POA Begin by drafting the POA with specific details about the powers you wish to grant. It’s advisable to consult with a legal professional to ensure all legal requirements are met and that the document is clear and precise to avoid misuse.

Notarization Once the POA is drafted, it needs to be notarized. In the UAE, notarization or true copy attestation in Dubai can be done at public notary offices. Both the principal and the agent must be present during this process, along with valid identification documents. For those abroad, UAE embassies can facilitate the notarization process.

Legalization If the POA is executed outside the UAE, it must be legalized at the UAE embassy in the respective country. Once legalized, it must be attested by the Ministry of Foreign Affairs in the UAE.

Revoking a Power of Attorney

It is essential to know that a POA can be revoked at any time, provided the principal is still mentally competent. The revocation must be done in writing, and a formal notice should be sent to the agent and any relevant institutions, such as banks or business partners, to ensure that the agent’s powers are terminated.

A Power of Attorney is a vital legal tool for managing personal, financial, and business affairs in the UAE, especially for expatriates. Whether you need to handle real estate transactions or appoint someone to manage your business in your absence, a properly drafted and notarized POA ensures your interests are protected.

If you’re looking to create a legally binding Power of Attorney in the UAE, JustPOA provides expert services to guide you through every step of the process, ensuring your document is properly drafted and legally valid.

[globalexchangeseo]

Challenges Faced By Uae's Workers In Sending Money Home

The UAE is a sought-after destination for individuals from low and middle-income countries seeking better opportunities. According to the International Labour Organization, the UAE has a population of approximately 9.3 million, with 8.7 million being migrant workers. Most of these workers are employed on temporary contracts, based on 2021 estimates.

The remittances sent by these workers play a vital role in supporting the economies of many developing countries. However, despite the importance of these remittances, the money received by their families often barely covers basic needs. This is largely due to the high transaction fees and unfavorable exchange rates that reduce the amount transferred.

Selecting a money transfer service that minimizes fees on their hard-earned savings can be difficult. Many workers struggle to find the best exchange options in the UAE due to limited time and resources. The challenges they face in this process are numerous.

Read more

[wisdomjunction2255]

What is a Mainland Company in UAE?

A mainland company in Dubai is an onshore entity registered with the Department of Economic Development (DED) of the respective Emirate. Mainland companies are the most common and sought-after business structures in Dubai due to their extensive operational flexibility. One of the most significant advantages of a mainland company is the ability to trade both within the UAE and internationally. Unlike free zone companies, which are restricted to operating within designated free zones or engaging with international markets, mainland companies face no limitations on where they can conduct their business.

In this comprehensive guide, we will explore the details of mainland company formation in UAE, its benefits, and the steps required to establish such a business.

Benefits of Mainland Company Formation in UAE

1. Strategic Geographic Location

Dubai's location is one of the primary reasons why it is an attractive business hub. Situated at the crossroads of Europe, Asia, and Africa, Dubai offers a strategic gateway for companies looking to expand into the Middle East, Africa, and Asia-Pacific regions. This central positioning allows businesses in Dubai to efficiently access the growing markets of the Gulf Cooperation Council (GCC) countries, making it a regional trade powerhouse.

2. 100% Foreign Ownership

Previously, foreign investors had to partner with a UAE national, who would own 51% of the company shares. However, recent legal reforms have allowed for 100% foreign ownership in many sectors, making mainland company formation even more appealing for international investors. The removal of this restriction has opened up new avenues for entrepreneurs and multinational corporations to set up wholly-owned subsidiaries or new businesses.

3. No Trade Restrictions

A Dubai mainland company enjoys unrestricted trading opportunities, unlike businesses in free zones that can only operate within their respective zones or export outside the UAE. With a mainland company, businesses can freely operate across the entire UAE market and engage in lucrative government contracts, which are usually off-limits to free zone businesses.

4. Tax Incentives

One of the most attractive features for foreign investors is the zero corporate tax policy. There is no personal income tax or capital gains tax levied on mainland companies in Dubai, making it a tax haven for businesses looking to maximize profitability. Furthermore, the UAE government has introduced favorable Value Added Tax (VAT) policies, which have minimal impact on businesses, making the tax environment extremely conducive to growth.

5. Access to UAE Government Contracts

One of the key advantages of setting up a mainland company in Dubai is the ability to bid on and win lucrative government contracts. These contracts are often high-value and involve large-scale projects across sectors like construction, infrastructure, and IT services. Free zone companies do not have access to such contracts, providing mainland companies with a competitive edge.

6. Visa Eligibility for Employees

A mainland company offers greater flexibility when it comes to hiring employees. Investors can easily obtain residence visas for themselves, their families, and their employees. There is no cap on the number of visas a mainland company can apply for, provided there is enough office space to accommodate the employees.

7. Availability of Office Space

Dubai mainland offers abundant office space options, ranging from affordable business centers to high-end commercial real estate in premium locations. The business setup in Dubai mainland requires you to have a physical office address. However, with the evolving business landscape, options such as shared office spaces and virtual offices are becoming more acceptable, making it easier for businesses of all sizes to establish a presence.

Steps for Mainland Company Formation in UAE

The process of setting up a mainland company in Dubai involves several steps, each of which requires careful attention to detail. Below is a breakdown of the mainland company formation process:

1. Choosing the Business Activity

Before setting up your mainland company, you must select the type of business activity you wish to engage in. The Department of Economic Development (DED) has a comprehensive list of business activities, and you must choose the one that aligns with your business objectives. Business activities are categorized into commercial, professional, industrial, and tourism. Once selected, this will determine the type of license (commercial, professional, or industrial) your business will require.

2. Registering a Trade Name

Once the business activity is chosen, the next step is to register a trade name for your company. The trade name must be unique and should not violate any of the DED's naming conventions. The name should also reflect the nature of your business. It is crucial to get this right the first time as changing a trade name can be time-consuming and costly. The trade name is initially reserved for 30 days upon submission.

3. Obtaining Initial Approval

After the trade name is registered, the next step is to apply for initial approval from the DED. This approval certifies that the DED has no objections to the establishment of your business in Dubai. It includes details about your company’s ownership structure, business activities, and partners.

4. Preparing the Memorandum of Association (MOA)

The Memorandum of Association (MOA) is a crucial document that outlines the structure of your company and the roles and responsibilities of its shareholders. If the business requires a local service agent (for professional licenses), an agreement with a UAE national must be signed at this stage. The MOA must be notarized and submitted to the authorities.

5. Renting an Office Space

A mainland company is required to have a physical office space within Dubai. This can be a full-fledged office, a shared workspace, or a virtual office, depending on the nature of your business. Once the office is rented, the Ejari (tenancy registration) must be completed, which is mandatory for company formation.

6. Final License Issuance

Upon fulfilling all the aforementioned requirements, the DED will issue a payment voucher for the license fee. Once the payment is made, the final business license will be issued, allowing the company to officially start its operations. Mainland companies are required to renew their licenses annually.

Conclusion

Establishing a mainland company in Dubai offers a multitude of benefits that can help businesses thrive in a dynamic and competitive market. The strategic location, tax advantages, unrestricted trading capabilities, and access to government contracts make Dubai mainland an ideal choice for entrepreneurs and multinational corporations alike.

[airdropbountyevents]

Introducing Plugin — Secure, Scalable Blockchain-Agnostic Decentralized Oracle

Introducing Plugin — Secure, Scalable Blockchain-Agnostic Decentralized Oracle

Plugin: Decentralized Oracle Network https://www.goplugin.co/

Centralized Oracles Computing acts as a single entity, which provides critical data from an external source to a smart contract, operating with a set of security features. Due to its architecture, such oracles are controlled by a single source which predominantly works as the sole source of information for smart contracts. Since it works similarly to the traditional financial system where a single entity is responsible for everything, it suffers major limitations, or they can say it has a single point of failure.

These oracles have a simple architecture with lesser investment in terms of infrastructure and maintenance. Although they provide protection against game theory attacks, these are still prone to vulnerabilities to being corrupted and attacked. Blockchain Oracle Problems result from the inability of oracles to verify the integrity of their data. Additionally, the likelihood of malfunction and deliberate tampering varies by type. On the other hand, if the information is trusted and verified, the oracle may fail to function properly on the smart contract due to a malfunction or deliberate tampering. From a game-theoretic perspective, it can be demonstrated that the higher the value of the smart contract, the greater the incentive to compromise the system. PlugIn Intro Video on Youtube https://youtu.be/Caz6Nv9Jc84

Looking at all above problems, Suvik Group of Companies, established in UAE, decided to start decentralized data Oracle Network called “PLUGIN”. As per Mr. Vinod Khurana, CEO of Suvik Group, some of the distinct features of Plugin are that it this is fully decentralized oracle platform; it provides cost-effective solutions for any smart contract on XinFin ecosystem.

Plugin collects data from different external sources, consolidates, and makes sure the correct value is provided to its users at any point of time. This is the most crucial part for any decentralized oracle provider that is highly trusted by all its users. Data collected from different oracle nodes is consolidated to arrive at the correct value. In order for this kind of system to avoid vulnerabilities and provide a blockchain peer-to-peer system, any decentralized oracle provider must rely on the community to choose the data sources and validators and also on the rewarding & penalizing mechanism. Plugin uses an approach of carrot and stick for rewarding the best and penalizing the vulnerable actors.

High level of security and scalability sets Plugin apart from others in the crypto space. Another feature, which makes it superior to other platform is that the low cost of gas; in addition to the speed of transactions at 2,000 TPS, which is far ahead of existing platforms of any kind of blockchain applications which uses its data feeds. The main advantage of using Plugin is that the data feeds are being provided by the platform at a very low cost compared to any other oracle providers as also the data feeds are highly diversified according to the needs of the customers and the XinFin community.

As a result, Plugin can be considered as a decentralized oracle provider which is economical, scalable, and highly trusted. The potential of decentralized applications is limitless, and oracles are an essential part for enabling them to standardize our institutions.

In addition to development of the decentralized Oracle Network Plugin; Plugin has been able to integrate with XDC SmartLock, an opensource platform that allows users to lock XDC away in a smart contract until a triggering event is received from an oracle data feed. Plugin aims to provide bespoke services to our customers intending to avail our assistance in the following areas:

o Weather forecasting Nodes

o Inflation data Nodes

o Secure sharing of medical data

o Real-time IoT operating systems

At present, Plugin, with ticker “PLI” is listed on Bitrue, Liquid, HitBTC and Globiance exchanges; with two world’s most-referenced Price Tracking Platforms, CoinMarketCap & CoinGecko.

One can join Plugin Development Community at Discord. They can also follow Plugin on Twitter & Telegram channels and its FB page https://www.facebook.com/PluginPLI

Contact: Vinod Khurana @ Suvik Technologies FZE Sharjah Research, Technology and Innovation Park. Al Sharjah, United Arab Emirates https://goplugin.co/

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