In order to maintain a proper financial record of your business, you need a separate bank account to manage its funds. The corporate bank account can be utilized for tracking the money which is to be paid to the creditors, managing cash balance, creating profit and loss statements based on the funds owed to the…
The Dubai Islamic Bank (DIB), as the name suggests, was first established in Dubai by Haj Saeed Bin Ahmed Al Lootah. The basic purpose of this bank creation was to incorporate the principles of Islam and its practices in the banking sector; in the long run, DIB managed to do this successfully and is now…
In order to work out how much money does it require to set up a company in the United Arab Emirates (UAE), it is important to first work out the type of company you want to establish, which sector will your company operate in, the location of the business, and finally the need of the…
A free zone is also commonly referred to as free trade zone is a defined geographical area within each emirate. These locations typically exist to help new businesses and startups because of no duties or taxes, which are levied in the free zone. The most important types of free trade zones are free zones, free…
The food and beverage industry in the United Arab Emirates is massive, and it is only projected to expand. According to recent estimates, the industry is worth about AED 142 billion, with development expected to reach AED 145 billion by the end of 2021. Year after year, an increasing number of restaurants and fast-food franchises…
Any entrepreneur looking to set up a company in the UAE should think about doing so in one of the country’s several free zones. There are numerous attractive free zones located in the Emirates, each of which provides a wide variety of advantages to entrepreneurs from all over the globe. One of the most appealing…
