The Cabinet of the United Arab Emirates (UAE) has now decided to give 100% Foreign Ownership for 122 economic activities in 13 sectors. The 13 sectors play a key role in the UAE economy. The decision is aimed at boosting growth and investment of the economy. The UAE last year approved a Foreign Investment Law…

Role of Finance Manager in An Organization Financial management is the managerial activity which is concerned with planning and controlling of firm’s financial resources. In other words, it is concerned with acquiring, financing and managing assets to accomplish the overall goal of a business enterprise, mainly to maximize the shareholder’s wealth.Some experts have mentioned financial…

Accounting in Business Accounting is often termed as the language of businesses. Accounting in business plays a vital role as it provides so much information about the company which helps to evaluate the company’s financial performance. The role of accounting in business is to help the stakeholders make better business decisions by providing them with…

Company Liquidation in UAE Below are the 7 steps involved in the process of liquidation of Companies in Dubai Development Authority(DDA), previously known as Dubai Creative Clusters Authority (DCCA) The Company should submit a notice to the DDA free zone authority mentioning, the reason behind the closure of the entity, and one month prior to the liquidation….

Gratuity calculation in UAE

Gratuity calculation in UAE Gratuity calculation in UAE, as per UAE labor Law an employee who completed one or more years of continuous service shall be entitled to get the End of service benefits. 21 calendar days’ basic salary for each year of the first five years of service. 30 calendar days’ basic salary for…

The Ministry of External Affairs has recently issued an advisory note on Registration of ECNR Passport holders for Indians who are travelling on employment | work in 18 ECR Countries from India. From 1st January 2019, for all Indians who are holding ECNR passport, can register before flying through an Indian government portal This initiative has…

The UAE Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has made significant and progressive decisions for foreign workers who serve the private sectors with regard to their bank guarantee, insurance and visa provisions. What are the most important decisions…

Maintenance of books of accounts and necessary supporting and relevant records are highly essential requirements for proper management and control of the business operations. This will facilitate the correct receipt and payment of cash and other transactions entered by the company. It is mandatory to maintain the books of accounts under UAE company law and…

MOA amendment as per the new Commercial Company Law –Don’t worry if you have not revised your MOA.    The companies who have not yet amended their Memorandum Of Association (MOA) following the measures of the new Commercial Companies Law need not worry now. The deadline was set earlier for 30th June 2017 by the…

Disclosure of accurate value of inventory is very important for a business organization to give a true and fair picture of the finance position as well as the profit/loss account for a particular period. Verification of inventory and its valuation has vital role in financial audit as well. Inventory is defined as assets that are…

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