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The types of Business Licenses issued in the United Arab Emirates (UAE) are professional, commercial, industrial and tourism. The professional license covers services offered by professionals, artisans and craftsmen; the commercial license covers all trading and commercial activities performed with an intention of making profit ; the industrial license covers all industrial and manufacturing ...
A Government-owned corporation is a legal entity that undertakes commercial activities on behalf of an owner government. Their legal status varies from being a part of government to stock companies with a state as a regular stockholder .
The UAE federal tax system is administered by the Federal Tax Authority (FTA), which was founded ahead of the 2018 implementation of a federal value added tax (VAT). The current standard VAT rate in the country is 5%. [2] [3] In January 2022, the UAE Ministry of Finance announced the implementation of a federal corporate tax starting June 2023. [4]
In the corporations of real estate law, the ownership or membership may be vested either in the real property or in a legal or natural person, depending on the corporation type. In many cases, the membership or ownership of such corporation is obligatory for a person or property that fulfils the legal requirements for membership or wishes to ...
The Dubai courts have also stated that non-Muslims are "required to respect Sharia law in Dubai." [ 14 ] In 2016, Ras Al Khaimah courts would now accept English language judgements in dispute resolution services, specifically aimed at business and investments in the region. [ 15 ]
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The 10-year Treasury climbed 4 basis points to 4.459%. Bitcoin jumped 2.28% to $90,053. Read the original article on Business Insider. Show comments. Advertisement. Advertisement.
The legal system in the United Arab Emirates is based on civil law, and Sharia law in the personal status matters of Muslims and blood money compensation. [1] Personal status matters of non-Muslims are based on civil law. [2] The UAE constitution established a federal court system and allows all emirates to establish local courts systems. [3]