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The free zone provides a tax-free environment, 100% foreign ownership, fast-track visas, freedom to source labour and materials globally, and ongoing business support services. [1] RAK FTZ provides these incentives at lower cost than free zones in other emirates. [2] [3] RAK FTZ was established in May 2000 by an Emiri Decree.
Investors can either register a new company in the form of a Free Zone Establishment (FZE) or simply establish a branch or representative office of their existing or parent company based within the UAE or abroad. An FZE is a limited liability company governed by the rules and regulations of the Free Zone in which it is established.
The PSD contained two main sections: The "market rules" described which type of organisations could provide payment services. Next to credit institutions (i.e. banks) and certain authorities (e.g. central banks, government bodies), the PSD mentioned electronic money institutions (EMI), created by the E-Money Directive in 2000, and created the new category of "payment institutions" (PI) with ...
Emirates is a subsidiary of The Emirates Group, and a major airline in the Middle East. It is the national airline of Dubai , United Arab Emirates and operates over 1,990 passenger flights per week, [ 41 ] from its hub at Dubai International Airport , to over 101 destinations in 61 countries across 6 continents. [ 42 ]
The Emirates ID system was introduced as part of the UAE government’s efforts to enhance national security, streamline public services, and modernize the identification process. Initially launched in 2004, the initiative aimed to replace traditional paper-based identity documents with a secure, digital alternative.
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 ...
Emirates Authority for Standardization and Metrology (ESMA) was the national standards regulatory body of the United Arab Emirates.Established in 2001 by the Federal Law No. 28, the agency was tasked with exercising responsibilities by unifying the country's management, supervision and coordination of standards, regulations, and quality control through providing standards, metrology ...
Emirates News Agency (Arabic: وكالة أنباء الإمارات, romanized: Wakalat Anba'a al Emarat), also known as WAM (Arabic: وام), is the official news agency of the United Arab Emirates.