New UAE Freezone to Focus on Digital and Virtual Assets Companies
The UAE Supreme Council Member and Ruler of Ras Al Khaimah, Sheikh Saud bin Saqr Al Qasimi, has announced the establishment of the world’s first free zone dedicated to digital and virtual assets companies. Under Law No. 2 of 2023, the Ras Al Khaimah Digital Assets Oasis will operate as an independent governmental authority, connected to the newly created Department of the Future.
Read MoreDubai’s Real Estate Market Sees 80% Increase in Q1-2023
Dubai’s real estate sector has recorded a significant increase in total transactions valued at Dh157 billion in Q1-2023, a surge of 80 percent compared to the same period in the previous year. 2022 saw annual transactions worth Dh528 billion, highlighting the sector’s importance in driving economic growth and bolstering Dubai’s global position.
Read MoreUAE Free Zones Launch Special Corporate Tax Rates
Overseas businesses that plan to launch in the UAE are not waiting for complete updates on corporate tax before taking up free zone licenses. Instead, they are signing up as UAE free zones offer some of the most compelling rates and incentives to businesses that sign up now.
Read MoreUAE Allows Corporate Tax Exemptions for Philanthropic Organizations
The UAE Ministry of Finance has recently announced a Cabinet decision that exempts “Public Benefit Entities” from the Corporate Tax Law. This decision is designed to support entities operating for the larger public benefit by ensuring their eligibility for tax exemption.
Read More