The UAE government is laying special focus on small and medium enterprises (SMEs) as they are considered vital for the economic growth and diversification. The SMEs also help in building national human resources. Various government programs are supporting SMEs including the UAE’s industrial strategy, national SME program, the UAE SME council, Khalifa fund, operation 300bn...
An Ultimate Beneficial Owner (UBO) is an individual, who is benefitted from or positively impacted from a company even though he/she is not named as the owner of the business formally. It is a person within the parent company who owns or controls over 25% of the company’s share, owns the right to exercise significant...
Due diligence ensures success of both – buyer and the seller in a business. The investigation reveals upsides and red flags in different areas including finance, operations, strategy buildings and much more. It critically analyzes potential acquisition to make it sure that it aligns financially, strategically and culturally with the buyer’s business objectives. Most companies...
The feasibility study of a project examines and determines a number of variables and finally draws conclusion, whether the proposed venture is worthwhile or profitable, now or in near future. Although, factors like hard work, passion, a clever business idea and astute businessman, all contribute in the success of a business but before jumping for...
The UAE government issued Economic Substance Regulation (ESR) in April, 2019 and thus, introduced requirements for the UAE entities to maintain an adequate economic presence in the country, of course in relation to the activities they undertake. In fact, the UAE Federal Tax Authority (FTA) has begun the process of introducing many economic substance regulations...
Establishing and running a business in Dubai is fairly easy primarily due to the trade-friendly policies of the UAE government. Many Emiratis, expats and multi-national companies have jumped to the chance and availed the opportunity. If you’re looking for an expert for business plan writing in Dubai, partner with MBK Auditing. In the space of...
Bank Laws in UAE In UAE, the Central bank governs the banking laws. It regulates commercial banks, investment banks, Islamic banks, money changers, financial and monetary intermediaries, financial investment companies, finance companies, and commercial banks. The banking laws in Dubai also govern locally established banks or branches of foreign banks. These establishments are offering commercial...
Anti Money Laundering (AML) in UAE The anti-money laundering law (AML) describes a perpetrator of money laundering offence as any individual, who is aware that the money is sourced from a felony or misdemeanour and still continues to transfer, conceal, acquire, helps someone to acquire such money, or possess such money intentionally and deliberately. Transporting...
Running a business? If yes, then ask a few questions to yourself. Whether your staff has the necessary skills and experience to accomplish the complicated job of accounting and bookkeeping? Whether the employees have the ability to deal with the increasing responsibilities of accounting? And if the answer is no, then it’s the right time...
The Abu Dhabi global market (ADGM) is an International Financial Free Zone, which is governed by three independent authorities. They include the Financial Services Regulatory Authority (FSRA), the Registration Authority (RA) and ADGM courts. It is one of the most trusted financial centres in the country. This choice has provided the businesses, yet another lucrative...
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