Blog

Emirates development bank to finance SMEs in Sharjah free zones

Emirates Development bank or EDB acts as a key financial engine of the UAE economy. In the recent economic diversification and industrial transformation agenda, they signed an MoU with the Sharjah Airport international free zone and Hamriyah free zone to provide financial support to start-ups and SMEs in these free zones.

Why branding is necessary for a business in Dubai?

Whatever you sell, branding is critical for your business. Through consistent branding, you can convince your clients and expose your business values. With growing digital media influence every day, customers are exposed to new businesses every single minute. In order to run ahead in this competitive market, go beyond traditional marketing and find more powerful ways to attract and retain people’s attention.

Register your Health food supplement company in Dubai

Dubai is a dynamic global trade center with continuous imports and exports. The UAE government has a well-maintained assessment system that guarantees customer satisfaction for the consumed products. Health supplements have gained a lot of importance in recent years. Therefore, the government remains strict in checking the quality of supplements and avoids the entry of fake products.

Steps to start your sports management company in Dubai, UAE

Dubai is known for its love for sports! More than 1 million people view sporting events every year in Dubai. This love for sports translates into huge business opportunities. It’s a fact that sports are a fast growing business environment worth over 50bn USD worldwide. With expert company setup professionals, it’s easy to join this thriving marketplace.

Best Free Zone for Opening an Advertising Agency in Dubai

Dubai is the most incredible business hub in the world. There are several start-ups or multinational companies flourishing every year. As the number of companies increase day by day, we need the right advertising to reach your target audience. Therefore, opening an advertising agency is a promising business opportunity in Dubai. Even if it’s a start-up or well-established firm, you need to recruit an advertising agency to popularize your products or services. Advertising firms in Dubai and Abu Dhabi virtually involve in online and offline marketing strategies with utmost innovation to grab the attention of visitors.

Abu Dhabi ADX to create more foreign investors with blue-chip index of 15 liquid stocks

Abu Dhabi securities exchange (ADX) and FTSE Russell developed a long-standing partnership where you can experience the world-class index expertise in the UAE exchange. Further, it sets the benchmarks for the growing capital market eco-system. This partnership has been a world-class suite that meets all the needs of both investors and retail in the local and global market.

Changes in UAE Labour Law: What You Need to Know

Following amendments to Labour Law which came into effect from 1st February 2022, there are now 12 different types of work permits in the United Arab Emirates.

Financial Crime: Hundreds of Cases Pursued in Crackdown

The Executive Office for Anti-Money Laundering and Counter Terrorism Finance has confirmed that hundreds of cases are being actively pursued by prosecutors in the United Arab Emirates. Releasing details of recent prosecutions and the deportations of suspects, the Executive Office for Anti-Money Laundering and Counter Terrorism Finance said that it had confiscated more than AED 2 billion (about $544.5 million), which includes AED 1.1 billion in money laundering offences, in 2021.

Ramadan: Reduced Working Hours in UAE

The Ministry of Human Resources and Emiratisation (MoHRE) has announced that working hours shall be curtailed by two hours each day during the holy month of Ramadan. This is in accordance with Article 15 (2) of the Cabinet Resolution No. 1 of 2022 on Employment Relations, which explicitly states that normal working hours are to be reduced by two hours during Ramadan.

Mashreq Bank Launches Program to Assist SMEs Access Working Capital

Mashreq Bank’s Supplier Finance initiative leverages the credit worthiness of large buyers to provide early payment to small suppliers, thus reducing the overall cost of financing the supply chain.

A Bounced Cheque Could Affect Your Credit Score

As of 2nd January 2022, issuing a cheque that bounces is no longer a criminal offence in the United Arab Emirates. However, it could still affect your credit score and impact your ability to secure lines of credit, according to the Al Etihad Credit Bureau. Marwan Ahmed Lutfi, the Chief Executive Officer of Al Etihad Credit Bureau clarified that several factors are involved in the computation of one's credit score, including payment of utility bills, credit card payments and bank loan installments.‍

Emirates Development Bank, Dubai Islamic Bank Sign Deal for SME Financing

The Abu Dhabi-based Emirates Development Bank has signed an agreement with Dubai Islamic Bank, the largest Sharia-compliant lender in the United Arab Emirates, to disburse AED 200 million (about $54.4 million) to small and medium-sized enterprises in the country. The focus will be on SMEs in priority sectors, as well as businesses and startups that are in need of funding assistance.

UAE Drops Face Mask Requirement, Back to Near Normal

As of 26th February 2022, people are no longer required to wear a face mask in public, according to an announcement made by the National Emergency Crisis and Disasters Management Authority. The use of face masks when outdoors has been made optional. However, people are still required to wear a face mask in closed, indoor areas – this includes schools as well as shopping malls.

How will the newly introduced 9% Corporate Tax impact the UAE’s Entrepreneurial Ecosystem?

On 31 January 2022, the Ministry of Finance (MoF) announced that the United Arab Emirates (UAE) will introduce a federal Corporate Tax (CT) on business profits that will be effective for financial years starting on or after 1 June 2023.

Corporate Tax in the UAE: All Your Questions Answered

From 1st June 2023, a Corporate Tax of 9% will be applicable on all profits above AED 375,000 in the United Arab Emirates.

Dubai Airport Free Zone Offers Talent Pass for Freelancers

Freelancers who are active in the fields of media, art, culture, education, technology, and consulting can now avail of a Talent Pass from the Dubai Airport Free Zone. This is a business license with which one can legally work anywhere in the United Arab Emirates and be eligible for a residence visa.

Operate on the Mainland With a Free Zone Company

Earlier, a free zone company could not carry out any kind of commercial activity on the mainland. It was restricted to doing business only in the free zone it was incorporated in. If any free zone company wanted to engage in commercial activities on the mainland, it had to open a Branch on the mainland. For this, prior approval from the Department of Economic Development was necessary.

Wij helpen u graag bij het openen van uw zakelijke bankrekening in de VAE!

Wij hebben de expertise om uw zakelijke bankrekening te openen en wij helpen u graag bij dit proces, zodat u waardevolle tijd, geld en energie kunt besparen!

Update: Economic Substance Regulations in the UAE - Part 3

In order to ensure that you do not incur any penalties, contact us today for assistance with filing the notification and the Economic Substance Report.

Economic Substance Regulations in the UAE - Part 1

The United Arab Emirates (UAE) was removed from the European Union (EU) blacklist by the Code of Conduct Group on Business Taxation on 10 October 2019, all thanks to the introduction of Economic Substance Regulations. These new regulations were introduced under the specific guidance issued by the UAE Ministry of Finance. The purpose of the Regulations is to ensure that UAE entities adhere to additional compliance and substance requirements for UAE businesses in certain sectors. The new regulations have led to enhanced confidence of international investors and financial institutions and the UAE still is an extremely attractive place to incorporate a new business.

Travel guidance for Dubai residents and tourists

COVID-19 flight and travel restrictions remain in place across many countries around the world. We are closely monitoring the situation as it evolves and we will provide frequent updates on this website.

Business etiquette in the UAE

Even though the UAE is a global business hub, new businesses should have some awareness of the Arab culture and the business etiquette that may be prevalent in the local business environment. In the Arab world, a large part of business is conducted on the basis of personal relationships and mutual trust.

Economic Substance Regulations in the UAE - Part 2

As per the recent Economic Substance Regulation, UAE onshore and free zone companies and other UAE business forms (referred to as “Licensees”) are required to notify to the Relevant Authorities as to whether they are conducting the relevant activity or not as per the regulation and required to file the necessary details as mentioned in the Notification form.

Navigating the impact of Coronavirus on your business

Join us in an informative and thought-provoking webinar on Monday 6 April at 3 PM Gulf Standard Time, to navigate the impact of the coronavirus on businesses and explore ways for a better chance of survival.

Does Corona Virus qualify as a Force Majeure Event?

Does Corona Virus qualify as a Force Majeure Event - UAE & KSA perspectives.

Het openen van een zakelijke bankrekening in de Verenigde Arabische Emiraten.

Wij hebben de expertise om uw zakelijke bankrekening te openen en wij helpen u graag bij dit proces, zodat u waardevolle tijd, geld en energie kunt besparen!

NHBC authorized reseller of International Free Zone Authority

New Horizons Business Consultants DMCC is an official authorized reseller of the International Free Zone Authority (IFZA), a new Free Zone based in the heart of Fujairah.

NHBC collaborates with Yonousi Business Consultancy

NHBC appointed as Dubai Business Specialist - DBi

UAE – the right jurisdiction for your FinTech or Blockchain related business?

The UAE continues to strengthen its position as a hub for FinTech startups as the country is home to highest number of startups and investments into this sector, thanks to government support and initiatives taken by financial Free Zones in Dubai and Abu Dhabi.

Taxation in the UAE - FAQ

Entrepreneurship and SMEs: future in the UAE

Since 2002, SMEs have been in the forefront to mobilise support for entrepreneurial ideas and initiatives from the government and the private sector in the UAE. Many entrepreneurs have benefited from start-up, advisory and development services which the UAE offers.

Oportunidades ilimitadas para hacer negocios en los EAU

New Horizons Business Consultants (NHBC Dubai) es una empresa especializada en la puesta en marcha de negocios en los Emiratos Árabes Unidos (EAU). Nos hemos percatado de la creciente tendencia por parte de empresas europeas y de América Latina interesadas por el marco fiscal favorable del país, de poder expandir sus negocios utilizando Dubai como centro.

Intraprendere un'attività negli Emirati Arabi Uniti

Forse hai contemplato un’opportunità di crescita aziendale o espansione in nuovi mercati. O forse stai cercando un modo migliore per ottimizzare la tua attività? Vorremmo darti maggiori informazioni sul fare affari a Dubai, negli Emirati Arabi Uniti, sulle Zone Libere e fornirti alcune informazioni, che potrebbero essere utili a te e alla tua azienda!

Ireland, Brexit and the UAE

In anticipation of Brexit, many Irish companies are looking for back-up solutions as the current situation is unprecedented and the future unknown. A setup in the UAE might be the ideal solution for you.

Zakendoen in de Verenigde Arabische Emiraten

Wellicht heeft u nagedacht over verschillende groeimogelijkheden voor uw bedrijf of uitbreiding naar nieuwe markten en regio’s. New Horizons Business Consultants helpt u met uw internationale ambities en informeert u graag over ondernemen in Dubai en de Verenigde Arabische Emiraten!

The impact of SMEs on the UAEs economy

You’ve had your "eureka moment" and have decided to setup your own company. What are the next steps? And how do you turn your ideas into your very own business? Perhaps you should look at the UAE as a business-friendly hub to setup your business, rather than Europe? What would make sense from a tax perspective? Where should I start?

UAE Cabinet approves long-term visa system

UAE Cabinet approves long-term visa system. The decision aims to maintain the position of the UAE as an optimal business environment. Long term visas will be granted to investors, entrepreneurs, specialists in the medical, scientific, research and technical fields and outstanding students.

EXPO 2020 Dubai UAE

The 35th universal World Expo will be held in Dubai from 20 October 2020 to 10 April 2021. It is the first World Expo to be held in the Middle East. Under the motto ‘Connecting Minds, Creating the Future’, with this being expressed into three sub-themes: Mobility, Sustainability, and Opportunity, 170 countries will present their ideas, innovations and technologies.

Dubai – The World’s First Smart City

The Smart Dubai initiative is to make Dubai the happiest and smartest city on earth. Its initiative presents huge opportunities for European businesses.

Opening a corporate bank account in Dubai made possible!

At NHBC, we have excellent contacts at all major UAE local banks and we therefore know which documents are required and can push for your corporate account opening without any hassles.

An introduction to doing business in the United Arab Emirates

Perhaps you’ve been contemplating business growth opportunities or expansion into new markets. Or maybe you’re looking for a better way to optimize your business? We would like to give you more insight into doing business in the United Arab Emirates!

Free Zones in the United Arab Emirates

Feel free to contact NHBC for more information on the services and possibilities of a setup in a UAE Free Zone.