Round-up: “Invest in Dubai” platform launched, DED releases 2020 license statistics, and UAE ranked for ease of setting up an online business

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Invest in Dubai platform launched Last week Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, launched the ‘Invest in Dubai’ platform which claims to enable investors to obtain trade licenses and launch a business in only a few minutes. The list of local and federal entities that contributed to the … Read More

UAE announces citizenship will be available to eligible foreigners

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In a major policy change announced on Saturday, the UAE Government approved amendments to its citizenship law, opening it up to groups of select foreigners. UAE will become the first Gulf nation to formalise a process aimed at embracing “exceptional people” and their families as part of Emirati society, and ensuring the social stability of these people in the country. … Read More

Economic substance reporting deadline extended to 31st January 2021

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The Ministry of Finance (MoF) has extended the deadline for all UAE based companies to file their Economic Substance Regulation (ESR) Notifications and (if necessary) ESR Reports to 31st January 2021. All companies in the UAE that engage in a “relevant activity” must submit an annual ESR notification and , if applicable, an ESR Report to both the regulatory authority … Read More