Businesses in Dubai have already experienced significant flexibility in terms of licensing and operational reach. The potential for companies to select their free zone base would further enhance this flexibility. A consultant noted that such a decision would provide businesses with extensive operational flexibility, rather than solely focusing on tax considerations. Currently, licensed businesses are required to operate within free zones that are operationally aligned with their activities. Any change to this requirement would be advantageous for businesses.
Author: UAEPress_Admin
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UAE, Turkey Discuss Rail Link in Race For Europe-Asia Trade Routes
According to sources familiar with the matter, Abu Dhabi wealth fund ADQ and Turkey are engaged in discussions regarding the construction of a railway over Istanbul's Bosphorus strait. This railway is intended to form part of a planned trade corridor linking Europe to the Middle East and Asia.
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Saudi Arabia announces bid to host World Cup in 2034
On Wednesday, Saudi Arabia made an official announcement regarding its intention to submit a bid to host the 2034 FIFA World Cup. The bid, led by the Saudi Arabian Football Federation, aims to organize a tournament of the highest caliber, drawing inspiration from Saudi Arabia's ongoing social and economic transformation, as well as the nation's deep-rooted passion for football.
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Dubai Miracle Garden reopens for its 12th season: Tickets, timings & more
Dubai Miracle Garden has commenced its 12th season, offering visitors the opportunity to witness its renowned and breathtaking seasonal decorations. The garden showcases intricate designs and meticulously crafted floral scenes, captivating all who visit.
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UAE: Single-use plastic bags banned in this emirate from January 1, 2024
On New Year's Day, a new rule will come into effect in the Emirate of Ras Al Khaimah, under Law No. (4) of 2023, which has been announced by the Environmental Protection and Development Authority.
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UAE announces Haj 2024 registration dates
The United Arab Emirates (UAE) has officially announced the registration dates for individuals intending to participate in the Islamic pilgrimage, Haj, in the year 2024. The General Authority of Islamic Affairs and Endowments has stated that interested pilgrims can register through their designated application from December 5th to December 21st.
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Gulf Navigation makes bid to take over Brooge Energy
Dubai-based maritime and shipping company Gulf Navigation (GulfNav) has formally proposed the complete acquisition of all businesses and assets from fuel and crude storage provider Brooge Energy Limited. GulfNav has stated that this proposed acquisition is a key component of its growth strategy, aimed at providing an integrated portfolio of logistical services related to oil, petrochemicals, and gas.
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New board appointed for Investment Corporation of Dubai
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, has issued a decree to appoint the board of directors for the Investment Corporation of Dubai (ICD). According to a statement released by the Dubai Media Office on Tuesday, the ICD's board will be chaired by Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, under Decree No. (40) of 2023. Sheikh Maktoum bin Mohammed, First Deputy Ruler of Dubai, will serve as the vice chairman of the board.
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UAE non-oil economy strengthened in September on new order boost
In September, the non-oil private sector in the UAE experienced robust expansion due to the addition of new clients, competitive pricing, and strong underlying economic conditions, resulting in increased demand. The seasonally adjusted S&P Global purchasing managers’ index reading rose to 56.7, up from 55 in August, indicating a significant expansion in the non-oil private sector
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UAE unemployment insurance scheme is optional for free zone employees, ministry confirms
Since its implementation on January 1, over 5.7 million individuals have subscribed to the programme. The Ministry of Human Resources and Emiratisation in the UAE has confirmed that signing up for the unemployment insurance programme is not mandatory for employees in free zones. Previously, it was widely believed that both Emirati and foreign employees, regardless of their work location, were required to subscribe to the scheme. However, a recent message from the ministry on social media platform X clarified that joining the programme is optional for employees in local and semi-government bodies, as well as those working in free zone companies. The ministry stated that the second phase of the system, which will be implemented on May 2, 2023, will allow employees in local government bodies, semi-government entities, and free zones to register on an optional basis using their ID number. This information was confirmed by a ministry official to The National.