Credit cards have become extremely popular in recent times and your wallet seems rather incomplete if you are not carrying one. The concept of credit cards is extremely simple; they are just like debit cards but every user has a credit limit that is offered by their bank provider. The funds spent on goods or…
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…
The UAE has one of the world’s largest and fastest-growing pool of entrepreneurs. At least 20,000 new businesses begin operations annually in Dubai alone. When a business community thrives at that rate, it is sure to require business support services such as legal consultancy. The strong connection between the UAE and the international market, alongside…
The strategic location, multinational demographics & progressive economic policies in the UAE make it a prominent and attractive trade destination. Several regulations & import requirements are implemented from time to time for the importation and trade of products in the country. Importers and traders are obliged to comply with the regulatory requirements as mandated for…
The new contribution to taxation in the UAE is VAT. It was placed into action on 1 January 2018. It is of interest in the current state that a corporation is registered in the UAE for VAT in order to be eligible to charge VAT to consumers. After the VAT registration procedure is complete, a…