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UAE: EMIRATISATION RATES INCREASED IN PRIVATE SECTOR

Chapter Fifty One: UAE Emiratisation rates increased in private sector On Monday 9th May 2022, the UAE cabinet introduced measures to increase the rate of Emiratisation in the private sector to 2% annually. In accordance with the new ruling, mainland…

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NEW CLASSIFICATION OF PRIVATE COMPANIES

Chapter Fifty: New classification system for private sector companies from June 1st A new classification system for companies in the private sector which took effect on Wednesday June 01,2022, was announced by the Ministry of Human Resources and Emiratization (MOHRE)….

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ECONOMIC SUBSTANCE REGULATIONS (ESR)

Forty-Nine: ESR registration deadline The UAE’s Economic Substance Regulation (ESR) requires the activity of a business as stated in the business license to match its financial statement, with that ‘Relevant Activity’ determined in ‘substance’ rather than in form alone. Businesses…

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GOLD TRADING IN DUBAI

Forty-Eight: Starting a Gold Trading Business in Dubai. Gold trading has a long and rich history in the UAE – one that continues today. Recently, the UAE government outlined plans for a federal gold trading platform in a move aimed…

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