Invoice attestation is a crucial process in the world of business and commerce. In simple terms, it refers to verifying and legalizing an invoice for use in official transactions. This process is essential for companies operating in the United Arab Emirates, including Dubai, as it ensures that their invoices are legitimate and acceptable to the relevant authorities.
UAE companies must attest import invoices with a value of Dhs. 10,000 ( US Dollars $ 2724 ) and above by the UAE Ministry of Foreign Affairs and International Cooperation (Mofaic). The attestation cost of Dhs 150 per commercial invoice will be applicable, and customers will have a grace period of 14 days after the declaration of goods to comply with the attestation. Failure to do so will result in a penalty of Dhs 500 per invoice levied by the UAE Ministry of Foreign Affairs and International Cooperation ( Mofaic ) on the non-complying businesses.
Here are some standard exceptions to invoice attestation in the UAE:
In addition, transit goods imports, B2C e-commerce movements, diplomatic, police and military, charitable societies, and international organizations goods are not to be covered. The UAE's Mofaic has introduced an electronic online process to complete the import invoice attestation by uploading the PDF documents. The authority will generate a reference number as proof of attestation. The reference number is integrated with the UAE Customs system to confirm the customer completes the attestation before import declaration.
The process of invoice attestation begins with obtaining a stamped and signed copy of the invoice from the supplier. This process is followed by getting the invoice attested by the Chamber of Commerce in the country of origin. This step is crucial as it confirms the authenticity of the invoice and its compliance with local laws and regulations.
Once the Chamber of Commerce has attested the invoice, it is necessary to have it legalized by the UAE Embassy or Consulate in that country. This step is critical as it confirms that the invoice meets the requirements of the UAE government to recognize it as a legitimate document. Finally, the Department of Economic Development (DED) in Dubai gives the final stamp of approval to the legalized invoice. This last step in the invoice attestation process ensures recognition of the invoice as a legitimate document for use in official transactions in the UAE.
It's important to note that regulations and requirements for invoice attestation may change from time to time. Therefore, businesses should stay up-to-date with the latest regulations by checking with the DED. Invoice attestation is critical for companies operating in the UAE, including Dubai. It ensures the authenticity and legitimacy of invoices used in official transactions and helps to prevent fraud and other unethical business practices. As a result, it plays a crucial role in maintaining the integrity and stability of the business community in the UAE.
To discuss the Dubai business set up process as per your requirements and gain further insights on how to get the permits and approvals or guidance, call one of our business setup specialist or advisor today at +971 52 375 2391 by call or WhatsApp.
Note: The above is a general commentary on the subject matter and should not be construed as specific legal advice. Updated information as to the relevant Laws, Rules, Regulations and requirement should be sought prior to making any application or decision.
Unemployment insurance is a crucial aspect of social security systems worldwide, designed to provide financial support to individuals who have lost their jobs through no fault of their own. In the United Arab Emirates (UAE), the government operates an unemployment insurance scheme to provide financial assistance to eligible individuals during their period of unemployment and help them find new employment. Unemployment insurance in the UAE is designed to support eligible individuals during their period of unemployment. The program typically covers a portion of an individual's salary for a specified period of time.
e eligible for unemployment insurance in the UAE, individuals must have worked for a minimum period and must have lost their job through no fault of their own. The application process involves submitting a claim to the relevant government agency along with documentation to prove eligibility. The claims process may vary based on the regulations and requirements of the government, but it typically involves an assessment of the individual's eligibility and the calculation of the benefit amount.
The concerning scheme was introduced by UAE government with the Federal Decree Law No. 13 of 2022 and is on effect from 1 January 2023. The Scheme is mandatory for all employees in the private and public sectors but currently is only available for employees who have a MOHRE work permit or are part of the federal government; i.e. it is not yet available for employees in free zones and semi-government companies.
As part of the scheme, employees will be eligible to receive compensation upon becoming unemployed, subject to having been insured for 12 consecutive months under the Scheme. All employees will be eligible to receive 60% of their basic salary during unemployment. The subscription fee and maximum compensation is dependent on the category of employee:
The first category will apply to employees earning a basic salary of AED 16,000 and under. Employees under this category will pay a subscription to the Scheme of AED 5 per month and their monthly compensation shall be limited to a maximum of AED 10,000.
Employees in the second category must earn a basic salary exceeding AED 16,000 and will pay a subscription fee of AED 10 per month with the monthly compensation limited to a maximum of AED 20,000. Eligible employees will receive this compensation for a maximum period of three months or until they find alternative employment (whichever is earlier).
Failure of applicable employees to register by 30 June 2023 and/or make the applicable subscription will result in fines and other penalties being issued to any non-compliant employees. It's important to note that the regulations and requirements for unemployment insurance in the UAE may change from time to time. Therefore, it is advisable for individuals to stay informed and check with the relevant government agencies for the most up-to-date information.
The unemployment insurance plays a crucial role in providing financial support to individuals who have lost their jobs through no fault of their own. The scheme helps to mitigate the financial impact of unemployment and supports individuals in finding new employment. The unemployment insurance scheme in the UAE plays an important role in promoting social security and stability in the country, and is an essential aspect of the overall social security system.
For further information, details and regular updates visit
To discuss the Dubai business set up process as per your requirements and gain further insights on how to get the permits and approvals or guidance, call one of our business setup specialist or advisor today at +971 52 375 2391 by call or WhatsApp.
Note: The above is a general commentary on the subject matter and should not be construed as specific legal advice. Updated information as to the relevant Laws, Rules, Regulations and requirement should be sought prior to making any application or decision.
Value Added Tax (VAT) is a consumption tax imposed on goods and services in Dubai and the United Arab Emirates (UAE). The introduction of VAT in the UAE in 2018 was part of the government's efforts to diversify its revenue sources and reduce its dependence on oil. VAT operates as a tax on the value added to goods and services at each stage of the supply chain, from production to consumption.
standard VAT rate in Dubai and the UAE is 5%. VAT is paid by the end consumer and is included in the price of goods and services. Businesses operating in Dubai and the UAE must register for VAT if they meet certain thresholds, such as an annual revenue of 375,000 AED or more. Registered companies are responsible for keeping detailed records of their VAT transactions and submitting regular VAT returns to the Federal Tax Authority.
Furthermore, a business may voluntarily register for VAT, where the total value of its taxable supplies and imports (or taxable expenses) is more than the voluntary registration threshold of AED 187,500.
If a person running a business fails to provide the necessary accounting records, a fine of AED 10,000 will be imposed for the first time. If the same person is found violating the law for a second time, a penalty of AED 50,000 will be charged according to the law.
VAT applies to a wide range of goods and services in Dubai and the UAE, including but not limited to food and beverages, clothing, electronics, and transportation. However, some goods and services may be exempt from VAT or subject to reduced rates. The UAE cabinet has defined some free trade zones as designated zones. These are treated as 'outside the UAE' for tax purposes. The movement of goods/services within and between these zones is tax-free.
In the VAT registration application, the applicant can request an exception from registration if 100 percent of its supplies are exported (zero-rated). Though FTA is not obliged to accept, such requests and acceptance are at the FTA's discretion. If FTA approves the request for an exception, the business/applicant will not be required to submit a periodic VAT return. The applicant is granted a Tax Identification Number (TIN) instead of a Tax Registration Number (TRN). A TIN Is also a 13-digit number suffixed with the letters 'XC.'
is an essential aspect of the tax system in Dubai and the UAE. It helps generate government revenue, promotes fairness and equity in the tax system, and diversifies the country's revenue sources. Businesses operating in Dubai and the UAE must comply with VAT regulations, keep detailed records of their VAT transactions, and submit regular VAT returns to the Federal Tax Authority.
For further information, details and regular updates visit
To discuss the Dubai business set up process as per your requirements and gain further insights on how to get the permits and approvals or guidance, call one of our business setup specialist or advisor today at +971 52 375 2391 by call or WhatsApp.
Note: The above is a general commentary on the subject matter and should not be construed as specific legal advice. Updated information as to the relevant Laws, Rules, Regulations and requirement should be sought prior to making any application or decision.
Corporate Tax in Dubai refers to the Tax levied on the profits of companies and businesses operating in the city and the United Arab Emirates (UAE). Corporate Tax is an essential source of revenue for the government and helps to fund public services and infrastructure development. Corporate Tax is sometimes also referred to as “Corporate Income Tax (CIT)” or “Business Profits Tax” in other jurisdictions.
The CT registration will be distinct and independent of the VAT registrations.
All businesses (e.g., free zones, companies, and individuals) would be required to register even if the taxable income is below the threshold of AED 375,000 or exempt.
All annual taxable profits ABOVE AED 375,000 shall be subject to a 9% rate.
All annual taxable profits under AED 375,000 shall be subject to a zero rate.
The following income shall be, in general, exempt from Income Tax:
Businesses must maintain documents and accounting records for at least seven years. Even if a company is not taxable, claimed exemption, or did not pay Tax in a particular year, the documentation requirements will still apply to facilitate future audits/assessments.
For further information, details and regular updates visit
https://tax.gov.ae/en/taxes/corporate.tax.aspx
To discuss the Dubai business set up process as per your requirements and gain further insights on how to get the permits and approvals or guidance, call one of our business setup specialist or advisor today at +971 52 375 2391 by call or WhatsApp
Note: The above is a general commentary on the subject matter and should not be construed as specific legal advice. Updated information as to the relevant Laws, Rules, Regulations and requirement should be sought prior to making any application or decision.
The Virtual Assets Regulatory Authority (VARA) is a government agency responsible for regulating virtual assets and related activities in the United Arab Emirates (UAE). VARA was established to support the growth and development of the virtual assets industry in the UAE, and to ensure that virtual assets are used in a safe and secure manner.
The primary responsibilities of VARA include:
VARA also works closely with other government agencies and regulatory bodies, both in the UAE and internationally, to ensure that virtual assets are used in a responsible and sustainable manner. This includes collaboration on anti-money laundering and countering the financing of terrorism (AML/CFT) initiatives, as well as efforts to prevent the use of virtual assets for illegal activities such as money laundering, terrorism financing, and cybercrime.
To get approval from the Virtual Assets Regulatory Authority (VARA) in the United Arab Emirates (UAE), businesses and intermediaries must follow a specific process. Here are the steps to get approval from VARA:
To get approval from the Virtual Assets Regulatory Authority in the UAE, businesses and intermediaries must meet eligibility criteria, prepare and submit a complete application, and comply with all relevant regulations and standards. By following this process, businesses can obtain VARA approval and participate in the virtual assets industry in the UAE.
For further information, details and regular updates visit
To discuss the Dubai business set up process as per your requirements and gain further insights on how to get the permits and approvals or guidance, call one of our business setup specialist or advisor today at +971 52 375 2391 by call or WhatsApp.
Note: The above is a general commentary on the subject matter and should not be construed as specific legal advice. Updated information as to the relevant Laws, Rules, Regulations and requirement should be sought prior to making any application or decision.
The Emirates ID, or the Emirates Identity Card, is a proof of identity and residency status issued by the United Arab Emirates (UAE) government. Emirates ID is embedded with an intelligent chip that stores this information, such as an individual's biometric information, including their photograph, fingerprint, signature, and personal details such as name, date of birth, nationality, and residency status. All UAE citizens and residents to get the emirates id which is required for various purposes and services, including government transactions, healthcare, education, employment, banking, and accessing certain facilities. It is crucial in ensuring security, efficiency, and accuracy in government and private sector interactions. Individuals must undergo biometric enrollment at designated Emirates ID centers to obtain an Emirates ID, provide the necessary documents and information, and pay the applicable fees to complete their visa process. The card is typically valid for a certain period and needs to be renewed before expiration.
Passport: A copy of your valid passport showing your personal details, including your full name, date of birth, and nationality.
Residency Visa: A copy of your valid residency visa in the UAE. The residency visa should match the duration for which you are applying for the Emirates ID.
Passport-sized Photograph: Provide recent passport-sized photographs as per the specifications mentioned by the Emirates Identity Authority. These photographs will be used for the Emirates ID card.
Additional Documents: Depending on your specific circumstances, you may be required to provide additional documents, such as:
Proof of Address: This could be a utility bill, tenancy contract, or any official document that verifies your residential address in the UAE.
Sponsor's No Objection Certificate (NOC): If you are sponsored by an employer or a family member, you may need to provide a No Objection Certificate from your sponsor, allowing you to apply for an Emirates ID.
Medical Fitness Certificate: In some cases, you may be required to provide a medical fitness certificate from an authorized medical center or hospital.
Submit your completed application form online at the Emirates ID center along with the supporting documents. The center will verify the information provided and process your application.
After the approval of the application visit the designated Emirates ID centers to undergo biometric enrollment on the given date. This process includes providing fingerprints, iris scans, and a photograph. The biometric data will be stored on the smart chip embedded in the Emirates ID card.
Pay the applicable fees for the Emirates ID card. The fees may vary depending on factors such as residency status and the duration of the ID card.
After completion of the payment the Emirates Identity Authority will review and process your application. Once approved, your Emirates ID card will be issued. The processing time may vary, but you will typically be notified when your ID card is ready for collection.
Visit the Emirates ID center to collect your ID card. You will need to present the necessary identification and documents to confirm your identity and receive your Emirates ID card.