Corporate & Commercial Archives - Fichte & Co

Everything You Need To Know About GDPR

Are you ready for the General Data Protection Regulation (GDPR)? 10 Action Points for Compliance The deadline to comply with the European Union’s General Data Protection Regulation (GDPR) is just around the corner. In this article, we summarize the key points that you need to know about the GDPR and how you can comply with...

The Dubai Multi Commodity Centre (DMCC) Free Zone Opens its Doors to Corporate Redomiciliation

The Dubai Multi Commodity Centre (DMCC) free zone has recently issued guidelines permitting companies to redomicile or migrate to the DMCC from other jurisdictions provided the laws of the jurisdiction in which it is incorporated permit the transfer of the company to the DMCC. What is Redomiciliation? Redomiciliation is a concept whereby a company transfers...

News Update: FTA Publishes Real Estate Guide to VAT Law

The Federal Tax Authority (FTA) has published a number of guides on its website to further assist taxpayers to understand the VAT Law for Real Estate, and the Regulations. There have been a few legal issues surrounding the supply of real estate- concerning both commercial and residential properties. Despite the detailed provisions mentioned in the VAT...

February 18, 2018

Raising Start-Up Funding in the Middle East and North Africa (MENA)

Entrepreneurs in MENA, just like their counterparts in many places around the world, often face a funding gap between the seed capital they raise from friends and family at an early stage, and what banks, private investors and venture capital firms are willing to contribute at a later stage. Friends and family often sympathize with...

February 4, 2018

7 Things You Need To Know Before You Go Freelance In The UAE

Many expats in the UAE are hesitant about going freelance despite the attractions of being your own boss. Here, we answer the key questions about freelancing. Is freelancing permitted in the UAE? Freelancing is permitted in the UAE as long as you obtain the requisite permits and approvals. What are the key permits and approvals...

January 24, 2018

The Crypto Takeover: ICOs, Tokens and the Funding in 2018

Initial Coin Offering (ICO) is a hot topic now, sensationalised headlines about startups raising as much as US$200 million in one go created a lot of frenzy amongst curious investors and regulators worldwide. At the peak, we saw about 30 new ICOs launch every day, raising over US$4.9 billion in 2017 alone. As the cryptocurrencies market...

European Union removes UAE from tax haven blacklist

UAE was confident of swift removal from the tax haven list in 2018. The UAE, along with seven other countries, has been removed from the European Union's list of Uncooperative Tax Havens as the country further enhanced its transparency in tax procedures. As a mark of strengthening ties with EU partners, the UAE signed 113...

January 10, 2018

UPDATE: FTA Releases List of Designated Zones

The Federal Tax Authority has issued Cabinet Decision no. 59 of 2017 on Designated Zones (“Cabinet Decision”) for the purposes of Federal Law no. 8 of 2017 on Value Added Tax (“VAT Law”). Art. 50 of the VAT Law had initially made references to designated zones, and Art. 51 of the Executive Regulations to the...

December 7, 2017

UPDATE: VAT Seminar – VAT in the UAE and the Implications for the Shipping Sector

We are pleased to have presented Jasamin Fichte as a main speaker of the VAT seminar titled “VAT in the UAE- Implications for the Shipping sector” on December 6th 2017. The seminar was introduced by Ahmed Al Falahi, UAESA vice chairman, and followed by speeches from Jasamin Fichte, of Fichte & Co, Gajendra Maheshwari and...

November 27, 2017

UPDATE: The New VAT Executive Regulations

The long-awaited Draft Cabinet Decision on the Executive Regulation of Federal Decree Law no. 8 of 2017 on VAT (the “Regulations”) have recently been issued by the Federal Tax Authority. The Regulations have provided guidance on some of the provisions mentioned in the Federal Decree Law no. 8 of 2017 on VAT (the “Law”). Registration...