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How to setup Company in DWC Free zone
Categories company, dubai, Free Zone, FREE ZONE COMPANY, uae

How to setup Company in DWC Free Zone

Dubai World Central (DWC), Dubai's second airport and the world's future centre, is rapidly taking shape in the city's south, near the rapidly growing "New Dubai" neighbourhoods. DWC is located in the heart of a whole airport city. The government of Dubai has taken a positive step in positioning the city as a major global commercial hub. The biggest master planned free zone in the world, located on 140 kilometres of land near Jebel Ali Sea Port, transports a wide range of industries such as aviation, logistics, exhibitions, residential, and many other associated companies. DWC is now the world's largest and most important worldwide business, commerce, and aviation centre. The DWC headquarters are close enough to the Al Makhtoum International Airport, the Business Park Aviation, the Logistics District, the Aviation District, the Commercial District, the Residential District, the Golf District, the Humanitarian District, and the Exhibition District, all of which serve as strategic platforms for the expansion and growth of light industry, aviation, logistics, and other business services. DWC is strategically located to provide coordination and shipping throughout the GCC, the Middle East, and the rest of the world.

Benefits of company set up in Dubai South

  • Forming a company in Dubai South would provide you with 100 percent tax-free benefits, as well as 100 percent foreign ownership.
  • There is no corporate tax when forming a business. It will allow you to choose from a variety of high-quality commercial structures.
  • It will also provide you with flexible commercial leases.
  • It offers you the choice of forming a business in a free zone or a non-bonded zone.
  • The company is set up at a very low cost.
  • Setting up a company in Dubai would provide you easy access to Al Maktoum Airport.
  • Setting up a business in the Dubai South Free Zone will also provide you with the benefits of space and services, allowing you to run your business more efficiently.

Simple steps for DWC company formation

Contact us

Contact us now for a free consultation and conversation with one of our DWC company formation specialists, who will assist you with your licensing, business operations, and all other needs for your DWC company creation.

Application

At this point, we'll submit an application for DWC business creation, as well as three possible company names, personal information, and copies of the shareholders' and managers' passports. The application is expected to be approved in 7 to 10 days. Although the customer's presence is not required throughout the DWC business creation procedure, signed papers must be delivered to us in their original form.

Smart Desk

Following acceptance of the application, the DWC institution will issue the Smart Desk office contract, which must be signed by the company's shareholder or management. The signed contract must be provided to us in order for us to submit it to the DWC authorities.

DWC company formation and licensing

The DWC official will issue the certificate of incorporation, MOA, share certificate, and business license when the Smart Desk contract is submitted.

Establishment card

After the firm is registered, the establishment card will be given in seven to ten days. The establishment card will allow the firm to apply for the appropriate resident permits for the company's shareholders, managers, and workers.

Corporate bank account

After the registration and licensing, the company will apply for the starting of a corporate bank account. The presence of the shareholder or bank signatory in Dubai is compulsory for at least one day to sign the bank forms

Requirements for company formation in Dubai South

You must register as a Free Zone Enterprise and have a Dubai South business licence to create a DWC firm. DWC accepts applications for the registration of a Free Zone Enterprise from any business, partnership, organisation, or individual. For a LLC DWC company formation
  • Incorporation certificate
  • All shareholder gets Individual share certificates
  • Memorandum of Association of company
  • Articles of Incorporation of company
For Branch Registration certificates will be issued.

Types of trade license

Depending on the nature of your firm, DWC offers a variety of trade licences:
How to Start a Restaurant or Cafeteria Business in Dubai and the UAE
Categories Business, Business License, Business Setup, dubai, How To, restaurant, uae

How to Start a Restaurant or Cafeteria Business in Dubai and the UAE

The restaurant sector is expanding all around the world. Despite global economic swings, nothing appears to diminish our desire to eat out. According to recent estimates, the global food service sector is worth approximately USD 3 trillion. And there are no signs of it stopping down. The tendency is similar in the United Arab Emirates. The restaurant market in the United Arab Emirates is expected to be worth USD 3.3 billion. Fast food restaurants account for over USD 1.5 billion, followed by casual dining at USD 880 million and fine dining at USD 840 million. However, a big market isn't the only reason why the UAE's restaurant sector is so appealing. We dine out 6.75 times a week on average in the UAE, which is more than the US average of 4.2 times. If you want to build a restaurant or a cafeteria in Dubai, now is an excellent moment to do so.

Restaurant Formation in Dubai

The creation procedure is basically the same whether you want to create a restaurant or a cafeteria in Dubai. You'll need two different licences. The first is a business permit. The Dubai Department of Economic Development (DED) or a free zone can be used to apply for this. Then you must have the food control department approve your restaurant plans. After you've finished this step, you'll be able to apply for your food license. The Dubai Municipality Food Safety Department has released this statement. You must include a copy of your trade license as well as a restaurant floor plan that includes all entrances and exits, food processing spaces, food storage areas, all windows and ventilation, all food processing equipment, and all washing equipment as part of your application. The ‘Food Code' must be followed in order for your license to stay valid. This is similar to food safety regulations in many other large nations, and it entails fulfilling specific standards for food preparation, production, and cleanliness. The regulation includes everything from food preparation and storage to ventilation and cleaning facilities, among other things. Any institution that prepares or serves food, such as restaurants, cafeterias, motels, and supermarkets, is subject to the regulation.

The Application Process

While there are some extra steps to applying for a food license, the procedure for applying for a commerce license is quite straightforward. You must first define your company operations before submitting your initial application. Will you be running a café, a restaurant, a culinary kitchen, or anything similar? You should also specify the sort of cuisine you want to sell, as well as how you want to sell it: eat-in, take-out, or delivery. To minimize delays in your license application, it's critical that you include these data. You must also avoid engaging in any trading activity that is not specified on your license. Working with a company setup specialist at this point is a fantastic option because this is such a precise element of the application procedure. Now that you've settled on your trade activity, it's time to pick a firm name. There are a few additional criteria to consider in the UAE that may not apply in other parts of the world. For starters, your company name can only contain your whole name if it is utilised in its entirety. Instead of J Smith Foods or Smith Foods, John Smith Foods is used. The rest is pretty self-evident. You cannot, for example, use the name of an actual organisation like NASA or MI5, and your firm name should not contain any derogatory or blasphemous words. Finally, make sure that the name you want to use is accessible for registration. This is another phase where a business creation professional may assist you. It's now time to submit your application for a trade licence. If you want to open a business on the Dubai mainland, you must first apply to the Dubai Economic Department (DED). You can apply directly to the relevant management authority for free zone installations. In both situations, you should include the following documentation as a bare minimum:
  • Finished application form
  • A passport copy of the potential owner or owners
  • Two passport size photos in colour.
Migrants of Oman Allowed to Buy Units in Multi-Storey Buildings
Categories Business, dubai, News

Transfer of Funds From India to UAE

Transfer of Funds From India to UAE: Globally, most countries employ foreign exchange controls to check both the outflow and inflow of currency from one place to another. As such, in India, the Foreign Exchange Management Act (FEMA) of 1999 and the Directions issued by the Reserve Bank of India are the foreign currency controls. So if you are residing in the UAE and a non-resident of India willing to transfer funds from India, this article can help you with it. There is no need for prior approvals from authorities except for the ones being listed in this article. The current article gives you a glimpse about the regulatory procedures for remitting funds from India to the United Arab Emirates.

Fund remittance from NRO accounts

As per Regulation 3.2(i) of the FEMA (Remittance of Assets) Regulations of 2016, the Indian government allows remittance of up to USD 1 million a financial year from an NRO's account. The individuals are expected to submit Form 15 CA and 15CB for remittance from an NRO account. This is to ensure that any tax liability on the funds is extinguished before remittance. This is to make sure such tax liabilities are eased as Indian authorities would find it challenging to pursue tax liabilities if the funds are transferred abroad. Form 15 CA deals with the undertaking by the individual to remit funds. At the same time, 15CB is the certification of such undertaking by an authorized chartered accountant. The disclosures in both forms are the same. In case of the remittance amount being lesser than 15 lakhs, Form 15 CB is not required. One can submit Form 15CA online at the Indian Tax Information Network Website (www.tin-nsdl.com). The individual will be provided with an acknowledgment of submission and is expected to retain that as it would be needed constantly. Upon submission of the Form 15CA, the individual appointed Chartered Accountant must fill in Form 15CB, certifying that all tax liabilities are fulfilled. The nature of funds to be remitted, which may be through interest, dividends, proceeds of the sale, etc., is also specified in the form. In this stage, the Chartered Accountant makes sure if the individual falls under any Double Taxation Avoidance Agreement. A Double Taxation Avoidance Agreement allows individuals to come under a lower tax slab and is deducted from the money to be remitted. The general rate that applies is 30%. Even though the procedure is online, it is difficult to do so from outside India as form filling and filing requires consultations with Chartered Accountants along with signature of the individual in the hard copies of the Forms.

Remittance proceedings from a property sale

The Regulation 4(2) of the FEMA (Remittance of Assets) Regulations, 2016 allows individuals to remit amounts as far as USD 1 million from the sale of properties inherited through succession. The following procedures mentioned above should be followed. In case of a property purchased by the NRI earlier and being disposed now, the Regulation 5(A) of the FEMA (Acquisition and Transfer of Immovable Property in India) Regulations, 2000 applies, which requires the following conditions to be met.
  • The individual should have acquired the property in par with the foreign exchange law in force at the time of acquisition or the provisions of these regulations
  • The repatriated amount should not exceed
  1. The amount paid during acquisition in foreign exchange and paid through normal banking channels
  2. Amount paid from funds in foreign currency Non-Resident Account
  3. Equivalent to foreign currency as on the date of payment and made from the funds held in Non-Resident External account for the acquisition of the property
  • The repatriation of sale proceeds is restricted to two in the case of residential properties.
The NRI is also expected to seek approval from the RBI before remitting any proceeds from India's sale of purchased properties.

Money Remittance by Foreigners who are not NRIs/PIOs

In case the individuals remitting money out of India are not Non-Resident Indian or a Person of Indian Origin, only a particular class of foreigners are allowed to remit funds outside India as of Regulation 4 of the FEMA (Remittance of Assets) Regulations, 2016. Such individuals should be
  • retired personnel from employment in India
(or)
  • has inherited property in India
(or)
  • a non-resident widow/widower who has inherited assets from the deceased spouse, who was an Indian citizen
Even then, the remittance by such individuals should not exceed USD 1 million. This is not limited to sale proceeds of assets held on a repatriation basis. In case of remittance in installments, it should be routed through the same bank that carries the first remittance.

Conclusion

The Foreign Exchange Controls in India monitors the inflow and outflow of funds leading to the tedious process of fund remittance outside India. The assistance of those with knowledge in the relevant procedure and regulations is often required. In recent days almost all nations are concerned about the funds leaving their country compared to fund inflow. Hence it is always advisable for individuals to take help from qualified professionals to navigate through the regulatory processes in case of fund transfer across countries.

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How to Start a Construction Business in Dubai
Categories Business Setup, Construction, dubai

How to Start a Construction Business in Dubai

Planning to start your construction business in the UAE will leave you with two options to select your location. You can either go for the Mainland Company, where you will need a local partner who is bestowed with 51% ownership of the shares, or a Free Zone company which allows your 100% ownership. Irrespective of the type of company you plan to set up, you will have to abide by the guidelines and provisions of building law in UAE. You will be interested on: Construction Company Setup in Dubai

Steps involved to set up a Construction Business in Dubai

The first thing is to decide whether you want to set up a company in the Mainland or in the Free Zone. The next step involves registering your company at the DED (Department of Economic Development. Construction businesses fall under the commercial sector and hence a commercial license is to be obtained. This license is permission to start a business in Dubai. The next step after acquiring a commercial license is to employ professionals like engineers and business consultants who on your behalf can apply for a building permit. The further step involves evaluating the soil and determining its properties by the professionals. Obtaining licenses from various departments depending on the type of company is the next step. In the case of a Mainland Company, you will have to obtain a building license from the Dubai Municipality, while in the case of a Free Zone company it is a G+1 permit. Other licenses like civil work permits, environmental licenses, etc also need to be acquired.

Approvals and Permits Required

In case of a building permit, the contractor needs the submission of design drawings of the proposed building. In case of works prior to any foundations, a civil work permit is applied for. An Environmental License Permit from the RTA (Roads and Transport Authority) to access road and internal network Approval from relevant authorities to the disposal of hazardous waste Permits from Dubai government entities regarding utilities. For example, a permit from Etisalat for telecommunications, permit from Dubai Electricity and Water Authority (DEWA) for electricity, and water. A NOC from DCD (Dubai Civil Defence) for Dubai Airports Company and other government entities To allow the building to be occupied, a Building Completion Certificate is acquired.

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HOW TO START A BRANCH OFFICE IN DUBAI – UAE
Categories Business Setup, dubai

How to Start a Branch Office in Dubai – UAE

International entrepreneurs and Foreign investors widen their business by opening a branch company or a representative office in Dubai. UAE provides various advantages in setting up a company, in the same way, there are also several benefits involved in opening branches of foreign companies. Business Enterprises always have the desire to open a branch office in Dubai, UAE due to its strategic location and various business opportunities. Taking this into consideration, the authorities have made it easier to establish a branch office in Dubai or any other Emirate. You will be interested on: Company Formation in Dubai

The To-Do List to start a Branch Company in Dubai - UAE

Filing Application
The first step is to apply with the Ministry of Economic and Commerce. The most important thing to be noted is that during submission, a service agent agreement also needs to be provided. It is mandatory to have a UAE national as your service agent during the process of establishing a branch company or representative office.
Obtain consent from the Economic Department or Jurisdiction Authority
Only after approval by the Economic Department of the locale, the UAE Ministry of Economic and Commerce will provide an agreement. The Ministry of Economic and Commerce sends the application for consent from the local government.
Approval from UAE Federal Foreign Companies Committee
One will have to obtain approval from the Federal Foreign Companies Committee to start a branch office. The application is forwarded from the Economic Department to the committee. A permit letter from the Ministry of Economic and Commerce about the business dealt is also forwarded by the economic department to the committee.
Obtaining a license from the Ministry of Economic and Commerce
Once the branch office is approved by the authorities, the ministerial license is provided to the company. The license provided by the Ministry of Economic and Commerce will specify the business activity undertaken by the company.
Acquiring your License
The business license will be issued when the branch office is registered by the local Economic Department.
Registering with commercial authorities
After acquiring all the licenses and required documents, one can register with the commercial authorities in the region. The branch company or representative office in Dubai needs to be registered with the Ministry of Economic and Commerce Companies Register and the Chamber of Commerce and Industry. The process is lengthy and you will have to run around from one authority to another. You can call us, Black Swan Business Setup if you wish to avoid the hassle. We Black Swan Business Setup is a service provider in Dubai offering company formation services all over UAE. In case you need to get clarified in different areas like how to start a business in the UAE, or even what business to start, you can speak to our consultants. You will be interested on  Branch Office of a Foreign Companies Setup in Dubai

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How to apply for an E-Commerce License in Dubai?
Categories Business Setup, dubai, E-Commerce

How to apply for an E-Commerce License in Dubai?

Residents of the UAE are avid users of the internet. According to research conducted by Google, 91.9% population of the UAE have access to the internet. Taking into consideration favorable factors like tax environment, increased internet usage, etc an e-commerce business in Dubai is most considerable. To obtain an e-commerce license in Dubai, you will have to go through the following steps

Deciding on the legal structure for your business

The first and foremost step involves deciding the legal structure of the business. In simpler terms whether your business is to be a Limited Liability Company (LLC), branch of a parent company, one-person company, representative office, etc. Branch offices and LLC formation come with a set of advantages. You will be interested on: E-Commerce License- Dubai

Selecting your location

Selecting a location does not appropriately mean the place where you are about to set up your office, but the place from where you need to get your license. There are two types of zones in Dubai namely, Mainland and Free Zone. Setting a company or business in Mainland needs a local sponsor who owns 51% of the shares in the business while the remaining 49% is vested with you. Free Zones allow 100% ownership of your company. Both zones have their share of advantages and disadvantages. You need to weigh down all the factors and select the one suited to your business.

Registering a trading name

As your business is not going to have a physical store, select a name that is easy to remember. it is better to use the trade name as the domain name as it is easy to find the company online. The domain name should not resemble any other existing company's domain name as this may lead to legal complications.

Applying for a license

After confirming the location, you will have to apply for an e-commerce license. License is issued by the Department of Economic Development and hence advisable to approach them first. A company set up in Mainland will be liable to pay around AED 10,000 to the Department of Economic Development for initial approval, name registration, and license issuance. A Free Zone company will have to acquire a license from the concerned free zone authorities. The type of license issued depends on the nature of your online business.

Applying for initial approval certificates

A NOC from the authority to start your e-commerce business in Dubai is the initial approval certificate. It is valid for six months and is non-renewable. An initial approval certificate can be applied at the same time as submitting their trade name approval application.

Drafting MOA and local service agent agreement

In case you select Mainland for your company setup, you will have to draft a Memorandum of Association (MOA) with the sponsor and submit to the DED. One can avail help from any legal firm for this, they will help you type out the memorandum which specifies the special arrangements and ownership percentage among all partners. Free Zone companies can skip this step.

Registering a physical office in Dubai

It is necessary to set up a physical office in Dubai as the authorities have made it mandatory to consider it as a legal entity.

Final Approval

On completion of all the above steps, you will be able to get a business license in 1-7 days depending on the authority.

Export/Import requirements

In order to receive your importers' code, you will have to register with one of the ports and customs authorities. A 5% customs duty is imposed on imported goods. Companies under free zone need not have import duty as they have to sell their products and services within the free zone.

Opening of Corporate Bank Account

After a successful application for an e-commerce trade license, and establishing your business, you can open your corporate bank account. The process is simple and quick, all it needs is to select the bank of your choice.

Advantages of Obtaining E-Commerce License in Dubai

  • Low Operating costs
  • Autonomy to capital and income
  • 100% ownership in free zones
  • No currency restrictions
  • Resident visa for 3 years
  • 0% corporate and personal tax
  • No import duties on e-commerce license

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Ways to open a corporate business account in Dubai
Categories Business, Business Setup, dubai

Ways to Open a Corporate Business Account in Dubai

To maintain an accurate financial record of your business you must have a separate bank account to manage the funds. The corporate bank account must be used for tracking the money that is to be paid for creditors, to manage the cash balance, create profit and loss statements of the funds owed to the business and payrolls to pay the employees. These activities keep a track where all businesses need a separate bank account and an accounts department to guide you through the tedious process. Proper financial documentation files for your taxes and can apply for loans in the long run.

Usually, banks treat business accounts differently than personal accounts as they offer several benefits to open a business or a corporate account in their branch due to the high volume of money transactions happening. It is a mutually beneficial deal why banks nominate an employee from within for managing the business account. It doesn't mean that without him you will not be able to operate the account.When having a nominated person from the bank help you bypass the tedious procedures.

You have to identify which bank account you need to open your business account in, this could be based on the rate of interest and profit offered by the bank. You have to consult a financial advisor or contact an agency for proper information.

The importance of business account

When you have a dedicated account you can make payments or receive them. You would develop a good credit history when going for new investment opportunities or apply for loans at good rates.

The need to track expenses

When your business scales, it is difficult to manage your expenses and keep a track of it. The financial team can give limited access to the account that could be the wise decision to have an official record. This can be tracked from home with the bank's mobile application. This enables you to keep top of your finances without getting into too many details of the expenses.

Have the Cash Flow

When tracking the expenses, the cash flow makes you understand the ins and outs of the money that is maintained in the business account. This makes better business decisions to give a clear outlook on how much the expense, net income and profit happens. The records are obtained quarterly, monthly, annually or bi-yearly. It makes the business owners take full control of cash without understanding the depths of the finance.

Calculate the Tax

You can ask the business owner who has not maintained a good financial record, they will tell you filing the tax would be ten times harder. When you have a good financial team through the business account you can calculate the tax liabilities and maintain transparency to tax-related matters.

The Business Loan

Banks look at the financial background of organizations to apply for loans and when you have an account perfectly maintained and filed the taxes it becomes easier to successfully apply for the loan application. Banks have strict regulations where they can meet everything that is maintained with transparency.

Pay through card

Having a bank account accepting global payments could be a useful thing. You can be promoted as you have received a payment successfully without having to leave the comfort of your home or office. The corporate or business account has been highly underrated.

The Professional Approach

To create a brand image you must have a corporate account as a customer or client to make payments in the official name of the organisation rather than the owner's account. This reinforces the professional approach and adds brand value.

Precise at the Book Keeping

When you choose for the personal account to be linked with your business you will have trouble between personal and business payments. This leads you to make a mistake on bank statements of payment confirmations. It is good to keep your personal and business accounts separate to help you with everything.

To open a business or a corporate account

You have to identify which business account you like to open depending on your business model and payment structure. This can be either merchant service, savings account, checking account or credit card account. The higher the business transactions are the more incentives you obtain from the parent bank.

Benefits of opening a business or a corporate account in the United Arab Emirates

  • The personal and business-related funds are kept separate to allow the protection of the personal liability.
  • Customers can deposit money directly to your bank account so you can monitor online.
  • Nominate the employee who is legally allowed to handle the financial matters and track anytime you want.
  • Credit-card accounts guide you in making start-up purchases.
  • The organizations based on credit can purchase new equipment by not paying the money upfront.
  • The United Arab Emirates offers competitive interest rates in the region. This slightly differs for Islamic Banking.
  • The Corporate or Business account would make international remittances.
  • Based on UAE Dirham you can open the account in the desired global currency.

The banks for business accounts in United Arab Emirates

Several UAE banks offer the opportunity to open a Business Account. The following banks are best in business and are primarily considered:

The Bank Name Minimum Deposit
Abu Dhabi Islamic Bank 5,000 AED
Dubai Islamic Bank  5,000 AED
RAK Bank 25,000 AED
Mashreq Bank 50,000 AED
Commercial Bank of Dubai  15,000 AED

These banks offer competitive interest rates, option of selecting multiple currencies, the check book facility, e-statements, free debit card and more.When you are looking for additional answers contact us and we give you the best decision for your business progression.

Documents Needed for Business Bank Account

Banking sector in the United Arab Emirates is reliable as they complete their due diligence by screening the applications to open a business bank account. Though it can be a long process as granted what is at stake, this is completely understandable why the process can take time. 

Few requirements to fulfill when you are opening a corporate bank account in Dubai

The category  Documents
Address and Identity Proof
  • The copy of shareholders.

  • Copies of directors valid passport and shareholders.

  • The residence visa of all shareholder representatives.

Documents Needed for Business
  • The disclosure of funds source.

  • The business plan.

  • Certificate of Incorporation.

  • The registry of shareholders.

  • Certificate of good standing.

  • The existing contracts.

  • Potential clients list.

  • The official company extract.
Extra Documents
  • Reference letter of the business partners.

  • Information related to the business activities.

These basic documents are needed where the bank's reserve the right for asking extra information like updated CVs of shareholders and nominated directors.

 The bank will ask for bank statements from one or more partners. To complete the registration process, you need all the required documents to be submitted to the bank for verification purposes.

  • The bank needs business to maintain a minimum amount of money within the account on a daily basis.
  • Few banks need businesses to have savings and checking accounts. 

Why Black Swan 

Black  Swan  consultancy gives you the best services and guides you through all procedures. The company makes aware of all challenges that every entrepreneur faces in the United Arab Emirates. We have qualified professionals to guide you from steps like company establishment to apply for different licenses to get your business off the ground.

You can contact us for more information and we are happy to guide you related to Bank Account Opening.

The Launch of New Arbitration Working Group by DIFC Courts
Categories Business, company, dubai

The Launch of New Arbitration Working Group by DIFC Courts

A new Arbitration Working Group has been launched by the Dubai International Financial Centre (DIFC). The panel of experts encompassing an advisory team of arbitration professionals, centres, educational institutions, bodies as well industry-related organisations will be tasked with sharing developments and reinforcing the best practices. The DIFC Courts deals with a multitude of high-value arbitrations across the globe. More parties choose the DIFC Courts as the preferred seat of arbitration, expanded operations to accommodate the influx under the new division, offers a wealth of judicial experience that deals with high- value complex commercial disputes.

Competes with arbitration

Courts intentions does not compete with the arbitration industry but complements the service offerings of arbitration centres. They’re long- term vision is to work closely with industry-specific organisations and experts to gain a better understanding of how to adjust and modify the Court services to assist better with arbitration-related disputes, stated by Zaki Azmi, Chief Justice of DIFC Courts. On February 2020, the Arbitration Division accommodate the increasing number of arbitration-related cases established by the DIFC Courts. The Arbitration Division leverages dedicated judicial, registry oversight and case management expertise chaired by Justice Shamlan Al Sawalehi. The arbitration-related cases filed under the new division has led to increased efficiency of the process, injunctive relief mechanisms and ability to swiftly review applications for the interim measures. The DIFC Courts exhibits regional, extensive national and global connectivity for empowering its specialised Arbitration Division in order to leverage existing enforcement expertise that ensures the certainty of recognition and enforcement of arbitral awards. DIFC Courts are used by companies, lawyers and law firms by ensuring to write the court’s jurisdiction into their contracts for dispute resolution. The DIFC Courts are chosen for arbitration-related disputes as supervisory court and as a default seat.

Adoption of the Technology

The DIFC Courts delivers all services with an advanced technology infrastructure, accessible through tablets, smartphones or desktop devices on the COVID-19 pandemic. The Courts has pioneered to increase the access to justice amidst several technologies. The region’s first fully integrated e-Courtroom and Case Management System in 2016, that serves the region’s first ‘paperless’ e-bundling solution in 2018. Recently, the new Arbitration Division hears applicants through teleconference, released Courts Orders and Judgements digitally. The Arbitration Working Group launches the inaugural meeting through video conferencing on October 1, that substantially discusses the objectives and functions as the next steps for the task force.

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Dubai is Booming Tourism Industry
Categories Business Setup, dubai

Dubai is Booming Tourism Industry

Dubai is Booming Tourism Industry: According to industry experts, this year, Dubai is all set to surpass Paris as the world’s 3rd most visited city. It is also 4th in the list of most visited city just after London, Bangkok & Paris. The Dubai government’s has been stressing on development driven efforts like multimedia campaigns, Visa on Arrival incentives, creation of world class transport links, developing new tourist attractions, besides encouraging private partnerships to promote world class hospitality infrastructure and much more. Dubai government has set up variety of initiatives to help drive main economy sectors and mostly tourism industry.

Dubai Tourism Boom & Current Growth Drivers

  • Multimedia & digital marketing campaign
  • Celebrity Ambassadors led campaigns
  • Custom marketing promotions

Future Development Drivers

  • 48 hours Entry Fees exempted for Transit Passengers.
  • Dependents of age 18 years & below exempted from Visa Fees.
  • Future Visa based Regulations.
  • Dubai’s increasing popularity on cruise Industry

Current Tourist Initiatives taken in Dubai to promote Tourism & Travel Industry

UAE government has been emphasising upon promoting travel & tourism industry by launching several initiatives like:
  • Dh 1000 government fees per PRO card, besides waiving of annual renewal fee as part of the initiative taken to promote tourism sector.
  • Children exempted from tourist visas, in case travelling to Dubai between the periods 15th July & 14th September every year to promote summer tourism.
  • Extension of Transit Visas to about 96 hours at just Dh50. This process will be facilitated by the express counters located at passport control.
  • Abu Dhabi & Dubai’s tourism fees reduced to promote hotel occupancy rates.
  • Tourist fees to outlets reduced to just 3.5% & hotel rooms to 6%, municipality fees is halved to 2%, while hotel fee per room reduced from DH 15 to Dh 10 in Abu Dhabi. However, there is no disclosure on the cut tenure.

Why Visitors find Dubai to be a hot favourite?

  • The UAE does boast of having just about everything to suit all ages like beautiful deserts, mighty mountains, pristine beaches, tallest buildings, large scale amusement parks and mega tourist projects.
  • The last year has witnessed significant growth in the number of cruse tourists making it to Dubai. According to figures, Dubai during the last year has witnessed 157 cruise ships and total of 625,000 tourists visiting the place.
  • Offering variety of family friendly attractions all over the city, Dubai is poised to become as the leading family destination in the world.
Setup Travel agency in Dubai with help from experrts at Blackswan Business Setup Service. Call us and get a quote today to start your travel company in Ajman, Al Ain, Dubai, Fujairah, Ras Al-Khaimah, Sharjah, Al Quwain - UAE

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Bookkeeping Services Provider in Duba uae
Categories Business Setup, dubai, uae

Bookkeeping Service Provider in Dubai

Bookkeeping Service Provider in Dubai : The bookkeeping refers to the systematic recording of finance in terms of business transaction inappropriate books of account. The first step in financial reporting or accounting. Bookkeeping has daily transactions posting in accounting software or ledger books. This can have a direct impact on financial statements and general ledger accounts. In Dubai, the role of bookkeeper gives prime importance due to the function of posting accounting transactions precisely and in a timely fashion.

The Benefits of Bookkeeping Services

The Financial Barometer
You have to maintain your account books that give you the crucial information for the efficient run of your company. Keep a track of the financial status of your business as a handy practice. This helps you estimate data points for income, billing and payroll management.
Safeguard from Fraud
When your financial books are regularly checked, fraudulent actions are apprehended, capital estimation for forthcoming payments are made and cheques can be prevented from bouncing. This helps your business from getting into a financial soup.
Monitor the Budget
The precise account of your company's spending and revenue compares actual results with the projections in an annual budget. When the bookkeeping is in place, the financial information of the business would remain up to date. This can check your overspend and can identify instances of underspending.
Tax
The proper bookkeeping aids in corporate tax filing for a company, also helps to spot possible tax deductions.

What Bookkeeping Services We Do Provide?

Blackswan helps you with the following bookkeeping services in the UAE. This records the business transactions as per International Financial Reporting Standards (IFRS) posting of general ledger and other ledgers. Can draft sale invoices accounting the reconciliation of bank statements and performing necessary adjustments. Records the accruals track of accounts payable as well receivable maintenance of sales and purchase ledger maintenance of fixed assets register.

Outsourcing the Bookkeeping Services

The bookkeeping imparts many procedural activities and has not specialized for any industry. It is fair common practice to outsource bookkeeping and accounting services in Dubai.

Why to Outsource Bookkeeping Services in Dubai and UAE?

The businesses preferably consider outsourcing their bookkeeping function.
Benefits of outsourcing your bookkeeping services in Dubai and UAE are:
You have to delegate the work of bookkeeping to a qualified professional allowing a businessperson to save their time that may be spent on the core functions of research and business development. This becomes critical when the business is managed by a small team. The scalability of an outsourced function is responsive and flexible. When the bookkeeping is outsourced and not handled in-house, it is adjusted to fit one's customized requirements of business troughs and extra workload. This becomes cost-effective as the need to employ highly qualified and expensive accountants handle your company's bookkeeping. The dedicated bookkeeping forms would employ experienced professionals to carry the outsourced bookkeeping services. The consultants would give professional advice to handle your financial matters as the company grows and develops.

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