The Central Bank of the UAE (CBUAE) has suspended the licence of YAS Takaful PJSC under Article 33(2)(k) of Federal Decree Law No. (48) of 2023 Regulating Insurance Activities. The decision came after the company failed to meet the required regulatory standards for insurance providers in the country. Existing policyholders will remain covered under contracts…
The UAE government has made it clear that all businesses in the country must register for corporate tax by July 31, 2025. If they don’t, they could face a fine of AED 10,000 from the Federal Tax Authority (FTA). This applies to all kinds of businesses, including: Mainland companies Free zone businesses Sole proprietors Even…
The UAE tax authority may soon allow companies to keep their VAT number even after changing their business type. This change could remove delays, reduce costs, and help more businesses grow without tax confusion. Right now, businesses converting from sole owners or branches to new companies must cancel their VAT and apply again — even…
In a key legislative update, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai and Vice President and Prime Minister of the UAE, has issued Law No. (9) of 2025, revising ten key articles of the 2021 Dubai Conciliation Law. The new amendments are part of the emirate’s broader efforts to modernize its…
Dubai Maritime Authority (DMA) has officially announced a new regulation requiring all marine vessels operating in Dubai’s territorial waters to properly display their Hull Identification Number (HIN). This rule, effective immediately, is essential for vessel registration,vessel licensing, and renewal procedures. Key Facts Who’s affected: Vessel manufacturers, owners, operators, and importers What’s new: Mandatory visible display…
A Power of Attorney is a legal document that allows someone to act on your behalf in managing important decisions. Whether you need someone to handle financial matters, make health care decisions, or represent you in legal matters, a POA grants a trusted agent the authority to act as you would. This is especially crucial…