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UAE Legal Update
  • Newsletter, U.A.E

UAE Legal Update

Regulatory Alert on Healthcare
Federal Law No.2 of 2019 – How to use IT and Telecommunications in the Healthcare Sector

The UAE Government Promulgate Federal Law No.2 of 2019 regarding how to use Information Technology and Telecommunications in the Healthcare Sector (“the Law”), now for the first time ever controls the healthcare data that is processed, measured, transmitted and also stored electronically

This Law comprises 22 Articles that include, but are not limited to the development of a central data base system, responsibilities in terms of data privacy and usage of IT and telecom technology while processing, transmitting or storing data. In addition, there are obligations on media licensing, training and also if there are violations for breach of the Law.

The Law is unique because it is the first ever federal privacy law associated to healthcare data and also for protecting any personal or sensitive data in the UAE.

Agencies such as all the healthcare providers, insurance companies, insurance intermediaries, any third-party administrators of medical claims, technology companies operating in the healthcare sector and others functioning with healthcare would have to review and then audit their existing practices and accordingly ensure that they comply with the Law.

The Law is anticipated to be gazetted in the next few weeks and would be brought into application in about three months starting from that date.

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GCC Immigration and Employment Law Update 2019
  • Newsletter, Oman, Saudi Arabia, U.A.E

GCC Immigration and Employment Law Update 2019

United Arab Emirates (UAE)

Some major developments in the UAE include:

  • Various new immigration and employment reforms that were proposed last year would now come into force in 2019. These include the representation of an updated version of the DIFC Employment Law. Effective from 3 February 2019, the new enhanced visa classifications and provisions for the investors, any exceptionally bright students and special talents has come into force and marks a welcome move to the earlier static immigration regime.
  • The Ministry of Human Resources and Emiratisation has announced a new occupational classification scheme which is applicable to businesses registered in the UAE mainland jurisdiction; this reduces the list of job titles that the employers can opt for while recruiting employees.
  • Effective from 20 January 2019, any international physicians, dentists and alternative medicine practitioners (termed as the “Healthcare Professionals” collectively) are allowed to work for a maximum of three clinics in the Dubai Healthcare City free zone operating under a special license and visa. As per these new amendments, the Healthcare Professionals are allowed to apply for the licence overseas depending on when they procure a suitable placement in a medical facility in the DHCC; then the DHCC would act as the “sponsor” for these Healthcare Professionals’ visa. The Healthcare Professionals would also be allowed to work for almost two years and sponsor any dependants living with them in the UAE as per this new visa arrangement.
  • The General Directorate of Residency and Foreigners’ Affairs (the “GDRFA”) in Abu Dhabi now requires the foreign nationals in Abu Dhabi to first get their Emirates ID card made before they get their employment residence permit (the “ERP”) attached in their passport. The applicants who are renewing their ERP in Abu Dhabi will be still able to get their ERP stamp done before they get their Emirates ID card.

 

Oman

Some major developments in Oman include:

  • The Ministry of Manpower (the “MoM”) has published a new decree that prohibits the employment of non-Omani residents into particular and designated roles in private higher education and training institutions.  The prohibition is currently restricted to the director of admissions and registration department, director of quality assurance, director of student affairs, and also director of the career guidance department.  The employment permits that are issued to non-Omani residents for the above-mentioned categories of employees would be applicable until expiry. Post that, no renewal permit would be granted.
  • Enhanced Omanisation initiatives are probable to continue throughout this year.  The six-month ban that applied to the 87 sector-specific professions (including, but not limited to, administration and human resources, accounting and finance, media, IT and engineering) and enforced in January 2018, which was extended in July 2018, is likely to be extended by another six months.
  • In February, the National Centre for Employment has opened only to Omani residents and serves them as a one-stop hub for job-seekers, while also unifying employment efforts, thus acting as a means of regulating the demand and supply of employment opportunities.
  • Effective from January this year, the Royal Oman Police have also relaxed some of the residency rules, especially for the children and siblings of global investors in the nation. The goal of this initiative is to enhance the inflow of foreign investments and offer social stability to the investors. According to a general immigration rule in Oman, children and siblings of expats who are aged 21 years or more and 18 years or more have to leave the country unless they obtain an employment visa to carry on residing in Oman beyond the fixed age limit; however, there is an exception in special cases under some humanitarian grounds in case the Director-General might waive this age requirement. But, under the new initiative, expat children or siblings of global investors coming into Oman would be exempted from this particular age requirement, that is, a global investor will now be able to get his children or siblings along, irrespective of their age, bringing them under his sponsorship and responsibility. This new relaxed residency program would be applicable to global investors only if they go on investing or having an investment in Oman.

 

Kingdom of Saudi Arabia (“KSA”)

Some major developments in the KSA include:

  • In the year 2017, the Ministry of Labour and Social Development (“MLSD”) had cut down the validity of the Block Visas from two to one year. There was an exemption for domestic workers and any foreign staff at government agencies.  ​The MLSD has again launched an initiative in January 2019 for extending the new Block Visa’s validity from one to two years and without any extra government fee. ​ ​As per this new initiative by the MLSD, businesses in KSA will be allowed to cancel their current Block Visas permitting them to hire global workforce and issue new extended visas applicable for two years depending if the visa requirements are being met. This extension of Block Visa’s validity in the KSA would facilitate all the private sector businesses in terms of time and effort, cost and other administrative work.
  • The MLSD has also implemented a new and instant calculation for Saudi and global employees as part of its existing Nitaqat System, which is effective from 2 February 2019.

Conclusion

Amendments to the immigration and the employment laws in the GCC countries are expected to continue in short and long-term. We would be monitoring these changes and will keep you updated with any developments.

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This Year has been a Positive Start for UAE businesses
  • Newsletter, U.A.E

This Year has been a Positive Start for UAE businesses

With an upsurge of the expansion rates in terms of output and even new orders in the middle of reports of a bigger market demand in 2019, all the non-oil businesses operating in the UAE felt that this year had a very positive start.

Mostly, the businesses remained confident about further progress in new orders resulting in growth of business activity in this year. Though some companies said that offering price discounts had enabled them to get bigger volumes in terms of new work, the output prices went down for the fourth consecutive month along with competitive pressures and comparatively feeble cost inflation.

As per surveys, the business activity expanded at the strongest rate since August, 2018. The rate of growth has also been faster than the series average. Where the output augmented, it was associated to higher number of new orders and also because of marketing and promotional activities.

The survey’s results are in tandem with IMF’s observation that non-oil development in the UAE would go up further this year and in 2020 because of fiscal stimulus and also due to fast-track arrangements for the upcoming Expo 2020 Dubai.

The global financial institution has forecasted that UAE’s non-oil sector is all set to expand faster this year as compared to the oil sector in spite of some recovery in the crude prices and new company formation in Dubai is a good idea at this point of time.

The expansion in business activity was because of promotions partially and also because of huge price discounting done by various companies. The output price index continued to be below the neutral 50-level in January, 2019, indicating lower average selling prices in the country, although the percentage of price discounts in January was lesser. Selling prices have gone down for last eight out of nine months. However, the input costs went up modestly in the month of January.

Because of higher activity requirements, most of the firms had to hire extra staff during January. With companies acting as per higher order growth and bigger output, the purchasing activity was very strong in January. But the stock of pre-production inventories went down for the consecutive second month, proving that businesses are managing their inventories in a better manner and not building up stocks in expectation of the prospective demand.

Over 68 percent of the companies expected their output to be higher within a year’s span. None of the companies that were surveyed predicted the output to be lower within a year’s time and optimism about the business in terms of future output stayed high in the month of January.

The business sentiment has been very high this year and has been strengthened as compared to that in December last year. The improvements in demand seen lately are expected to further go up, as all the marketing campaigns are forecasted to get positive results in 2019.

Another research shows that the investors in the UAE could be vulnerable to over-estimating the potential for the growth of investments in the near future. When the survey respondents were asked to guess their expected investment return in 2019, almost 24 percent people expected returns over 10 percent and just seven percent of the population expected returns to below two percent or in negative. Thus, this year seems to be a perfect time for business set up in Dubai free zone and if you have that as an agenda, but do not know how to go about it, please get in touch with us, and we would be happy to assist you.

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How To Set Up A Coffee Shop In Dubai
  • Article, U.A.E

Here’s How To Set Up A Coffee Shop In Dubai

Dubai has secured its position among top business hubs in the world. This is because of the government’s constant efforts and various policies adopted for the growth of different types of businesses in Dubai, whether big or small.

Owing to this, many people wish to open a small business in Dubai. In fact, lately, many small businesses are continuously opening and flourishing in the city.

One of the promising ventures for many entrepreneurs is opening a coffee shop in Dubai. It is a good idea which is not too risky and at the same time gives you an excellent opportunity to capitalise on the flourishing food and beverage industry. Moreover, the food and beverage industry in Dubai is continuously rising.

Given the competitive environment in the coffee business, it is very easy to set up a coffee shop in Dubai. Moreover, it is also the most profitable and cost-effective business venture. So, if you have the right knowledge and skills then you are sure to gain favourable results. Below mentioned are some tips on how to open a small business in UAE and make it beneficial for you.


Benefits of setting up a coffee shop in Dubai

One of the biggest advantages of opening a coffee shop in Dubai is the cost factor. It is the most cost-effective business idea among all the food and beverage businesses in Dubai. Unlike opening a restaurant in Dubai, The cost of setting up a coffee shop is very less and you need a very small space for setting it up. You also do not require much investment for the functioning of the same. For opening a coffee shop, you are not required to invest much which makes it easier for you to start your business. Moreover, the time taken for setting up the infrastructure is also very short.

Steps to follow for opening a coffee shop in Dubai
Develop and Document Your Business Plan
There are three types of coffee shop business plan mostly in practice when you set up a coffee shop in Dubai
  • Start-up business plan describing how you are going to set up your coffee shop
  • Operational business plan with details on how you are going to operate your coffee shop
  • Contingency business plan detailing how your business will respond effectively under different exigencies and adverse unforeseen circumstances
 
Select the right space
Select the location for your coffee shop based on your vision, budget and objective. Choosing an area which is easily accessible through roads or metro can lead to high footfall and visibility. Choosing a location for your coffee shop which is near commercial and residential places can attract a large number of customers and boost your revenue. Moreover, choose a place which has less number of existing coffee shops to eliminate competition.
 
Decide on the Right Layout
The type of retail doesn’t matter much while you plan to set up your coffee shop in Dubai instead you need to decide carefully about the layout of your key coffee-making equipment. It may sound trivial however small factors like where you place the wastebasket for disposing of used coffee cups can influence your efficiency in a significant manner. Typically for all coffee shops, the layout is important as you need to maintain obstruction-free optimum distance along with the movement and flow.
 
Outline a marketing plan
Advertising your business is important to increase brand visibility and promote revenue growth. A comprehensive marketing plan helps you reach out to customers. You may use online marketing strategies, social media networks, distribute fliers and brochures, participate in trade shows, host events in your coffee shops and place an ad in the print and electronic media, if your budget permits.

UAE Economic Substance Regulations: Compliance & Filing Guidance

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Get the necessary license
It is important to apply for the right license for your coffee shop. The license type depends on what you intend to sell at the shop i.e. just the coffee or coffee along with some refreshments or a meal along with coffee. You require a specific license and permission for different types of offerings.

Normally, you need to apply for general business permissions as well as specific Food & Beverages (F&B) service regulations to set up a coffee shop in Dubai and require the following licenses

  • Business Trade Licenses specific to Food and Trade License issued by the Department of Economic Development including a license from the Department of Tourism and Commercial Marketing. License cost depends on the size and type of business and normally costs SAR 8000 and more.
  • Food licenses for safety reasons and authorization from the Food Control Department of Dubai Municipality. There may be other Business Trade Licenses for a mobile type like a coffee van and in such case, you would also need driving licenses for you and your employees.
 
Select Your Equipment
Besides Stainless Steel tops for your kitchen stands, you will also require Cabinets, trolleys, ice containers, racks and shelves, tables, exhaust pipes, sinks, etc.

Also, you will need equipment to set up a coffee shop in Dubai such as Coffee and espresso makers, coffee grinders, coffee, and tea brewers, ice makers, hot water dispenser, high-speed oven, decanters, and various coffee shop accessories e.g. cups, spoons, pitchers, syrup pumps, timers, creamers, water treatment equipment, blenders, juicers, refrigerators, sandwich preparation tables, display racks, cleaning and washing equipment like dishwashers and many others.

Fulfill all compliances and requirements
Before starting out, ensure that you comply with all the licensing, financial and legal requirements related to opening a coffee shop in Dubai. This will help you avoid future issues and the possibility of business disruption due to non-compliances.

Mentioned above are a few things to keep in mind for a successful set up of a coffee shop in Dubai. Apart from this, you should also monitor your cash flows, hire trained employees and do good market research before starting out. If you need professional help for setting up a coffee shop in Dubai UAE, you may get in touch with IMC Group.

Conclusion
To set up a coffee shop in Dubai, you need to be committed and passionate about your coffee shop business and need to have strong business acumen as well. Selection of the right space and proper equipment are the main two measures that help you navigate the difficult times at the start and show you the light of business success.

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Airbnb Invests In OYO’s Series E Funding Round
  • Newsletter, U.A.E

Airbnb Invests In OYO’s Series E Funding Round

Home-renting company Airbnb dives deeper into the hotel-booking business by investing in Indian hotel reservation start-up OYO’s series E funding round. Though Airbnb did not disclose the amount of the investment made, sources in the know said that the investment ranges between $100 to $200 million. As part of this deal, OYO is likely to list its properties on Airbnb platform thereby expanding its international reach and simultaneously strengthening Airbnb’s presence in Asia.

This investment underscores a growing trend of companies in the hospitality and travel segment to leverage each other’s strengths.

On 8th March, Airbnb bought HotelTonight, an app for finding hotel rooms at a discount, ahead of its hotly anticipated initial public offering (IPO).

“Emerging markets like India and China are some of Airbnb’s fastest-growing, with our growth increasingly powered by tourism to and from these markets,” said Greg Greeley, president of homes, Airbnb.

On the other hand, OYO has also been aggressively expanding its global footprint by entering markets such as UAE, Philippines, the US, and China over the past one year.

“Airbnb’s strong global footprints and access to local communities will open up new opportunities for OYO Hotels & Homes,” said Maninder Gulati, global chief strategy officer at OYO Hotels & Homes.

Airbnb has about 47,000 properties listed in India. Globally it has almost 6 million listings across 81,000 cities in 191 countries. Whereas, OYO has its presence in more than 259 cities in India with over 8,700 buildings and over 1,73,000 rooms.

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Looking for best business setup consultants in Dubai, UAE
  • Article, U.A.E

Looking for best business setup consultants in Dubai, UAE?

Dubai has established itself as the number one business location in the Middle East and it offers a hotbed for business opportunities. The city offers a strong and growing economy, economic diversity, financial stability, tax-free business environment, world-class infrastructure, proficient workforce and great business opportunities.

Today more and more investors are flocking to Dubai to establish their dream business owing to its great potential and bright future prospects. Moreover, it gives access to over 2 billion population in three different regions of the world. Its easy geographical location gives access to over 140 ports in 6 different continents. In addition to this, Dubai is one city in the whole of UAE that houses a maximum number of free zones. Due to the tax-free nature of its business zones, the cost of setting up a company in Dubai is low which attracts a huge number of entrepreneurs to Dubai.

All of these factors make Dubai a great place to set-up a business. With so much ease and facilities, all you need is the best business setup consultant in Dubai and you are good to go!

What is Business Setup Consultant?

A business setup consultancy is a company that provides advice and support to individuals and businesses looking to establish themselves in a specific region. These professionals offer valuable insights, regulatory expertise, and practical assistance throughout the process of starting and structuring a business. Their main objectives are to improve operational efficiency, thereby helping clients achieve their entrepreneurial objectives successfully.

Why Do You Need Business Setup Consultants in Dubai?

Setting-up a business in Dubai is easy and smooth but it involves understanding the difference between company formation and business set up in Dubai free zone and mainland. In addition, you also need to comply with other legal and statutory formalities such as preparing legal documents, opening a corporate bank account in Dubai, obtaining the required licenses based on the activities and services you intend to offer and do other visa processes. All of these activities are time-consuming as well as tedious. However, business setup consultants in Dubai can take off the burden from your shoulders and ease the entire process of company formation in Dubai.

IMC Group -Best Business Setup Consultant in Dubai

IMC Group is a cross-border financial advisory firm offering wide range of services such as Business Setup Solutions, Corporate Advisory Services, Global Mobility, Tax Advisory Services, International Tax Structuring, Special Purpose Vehicles (SPV), and Accounting and Bookkeeping Services to its esteemed clientele in the AMEA (Asia, Middle East and Africa) region.

We help you establish your business faster, smoother and easier. Depending on your budget and requirements, we suggest you business solutions that are tailor-made especially for you keeping your unique needs in mind. We advise you with the best option to start your business. We help you with crucial decisions such as whether to form a free zone company or an onshore company, ideal structure of your company, licenses required to make your company functional, etc.

Our Business Setup Services

PRO Services
We are wholly committed to providing a comprehensive suite of PRO solutions to our clients all over the UAE. We specialise in employment laws of Dubai, UAE and free zones which help us offer the best to our clients in a hassle-free and smooth manner. We help you deal with government authorities for visas, medical test, labour contracts, Emirates ID’s, license renewals, license amendments and more. Some of the services provided by us include managing the documentation requirements of the ministries to set up business, acquiring and renewal of trade licenses, getting documents attestation, assisting with the visa application, processing of new and old employment visa, etc.
Bank Account Opening
We help newly established companies in opening a bank account in the UAE. We have strong relationships with all the major banks in UAE which helps our clients in smoothly opening a bank account in Dubai. We assist you with the entire process of bank account opening in Dubai right from the initial paperwork to meeting all the other bank requirements.
VISA Services
We provide visa services for procuring employment visa, family visa and partner visa in Dubai. We are well versed with UAE visa procedures and endeavour to keep ourselves updated with the changes in the visa norms from time to time. This helps us provide the most reliable and effective services.
Products Registration
The Government of Dubai has rolled out a complete product registration process which aids in importing and manufacturing high-quality products in Dubai. Some of the products that require registration include medical products, electronic products, herbal products, food products, cosmetic products, etc. We help our clients review their product’s labelling and documentation in accordance with the requirements of applicable Dubai regulations and guidelines. In addition, we also support in preparing the Product Information File.
Local Sponsors
For outsiders, willing to set up a business and or a company in Dubai, it is mandatory to have a local sponsor or a service agent who takes the responsibility in front of the authorities to bring you in the country. At IMC Group, we help you find the local sponsors for the legalisation of your business in Dubai.
Trademark Registration

A trademark protects your business and distinguishes your products and services from that of others. Since it is crucial for your business, you need experts to do this for you. Being one of the best business setup consultants in Dubai, we assist you with the effective and smooth trademark registration process and ensure that you receive positive results. We conduct a comprehensive trademark search, help you file the trademark application and complete all the formalities related to trademark registration.

If you are looking for best business setup consultants in Dubai, get in touch with IMC Group and we will help you set up your business in Dubai, UAE in a smoothest manner.

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A breakthrough double tax treaty signed between the UAE and the KSA is now published
  • Newsletter, U.A.E

A breakthrough double tax treaty signed between the UAE and the KSA is now published

The detailed information about the double tax treaty between the UAE and the KSA (the “DTT”) signed on 23 May 2018, has been finally made available.

The verdict for approving the DTT in KSA was published in the official Saudi Gazette and Umm Al-Qura, recently along with the text of the DTT. This publication of the decision done in the official Gazette brings an end to the ratification process for KSA. Both the countries involved have to inform the other about the completion of the process as per their law so as to bring the DTT into force.

The key features of this treaty are as follows:

  • Abuse of the treaty: In accordance with the Multilateral Convention to Implement Tax Treaty related procedures to Prevent Base Erosion and Profit Shifting (“MLI”), which both the UAE and the KSA have signed, the DTT says that the treaty access would be denied in case even one of the chief purposes of the arrangement is to get treaty benefits.
  • Effective date: The DTT would be entering into force on day one of the second month after the above notifications. The DTT would be effective for all the payments that are made on or post 1 January after the date on which the DTT came into force particularly for withholding tax reasons and for tax years which begin on or post 1 January of the same annual year for the purposes of income tax.
  • Persons covered: The DTT is applicable to the residents of the UAE and the KSA. Please note that the DTT is not restricted only to GCC nationals; thus, non-GCC nationals could also take advantage from the DTT.
  • Permanent establishment (PE): The DTT applies the general OECD definition of a Permanent Establishment. A PE is a basically a fixed place of a company from where the business is fully or partially carried on. A PE would include a branch, a place of management, an office or a factory; however, it excludes all the activities that are of a preparatory or auxiliary nature.
  • Income derived from immovable property: This kind of income could be subject to tax in the nation where the property is actually located.
  • Business profits: Business profits are usually taxable in the nation of residence. However, an exception to this is where the company carries on the business in another country via a PE and in that case, the profits of that PE could be taxed in the other nation.
  • Dividends: Dividends would be taxed in the source nation but the tax will be limited to a maximum of 5 percent in case the beneficial owner of those dividends is residing in another country.
  • Interest: Interest income is allowed to be taxed only in the residence country in case the recipient is the beneficial owner and is also a resident of that country.
  • Royalties: Royalties are to be taxed in the source nation but the tax would be limited to 10 percent in case the recipient is the beneficial owner and is also a resident of the other nation.


Capital gains: Any capital gains would be taxed only in the residence country except if one of the exceptions is applicable to provide the taxing rights to the source country.

The DTT is actually a rare agreement between two GCC countries and is set to improve the economic relations and also the bilateral cooperation between the UAE and the KSA. After it comes to effect, the DTT is surely going to have major tax implications. The conclusion of the DTT might have an impact on the existence of a PE and could reduce the withholding tax rate applicable in the KSA. Companies and persons who do cross-border transactions should ideally evaluate their transactions and also corporate structures immediately so as to ensure their eligibility for treaty advantages. As both the KSA and the UAE have signed the MLI, the provisions of the DTT could be amended by the MLI as per the final MLI positions taken up by the UAE and the KSA. As of now, the KSA is in its provisional MLI positions, and has included the DTT as a covered agreement, though the UAE has still not included it as such.

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Dubai Announces the Second Stimulus to Boost SMEs and Public-Private Partnership
  • Newsletter, U.A.E

Dubai Announces the Second Stimulus to Boost SMEs and Public-Private Partnership

This step focuses on easing the process of performing business and reducing the expenses for companies.

The Government of Dubai’s Department of Finance (DoF) has announced the second package with some economic growth initiatives which aim to augment the emirate’s current economic incentive package under the government’s response to the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.

The directives regarding leadership which were given to the government aimed at simplifying the steps of performing business and bringing down the costs for enterprises by using all the possible resources, so as to aid the economic accomplishments.

Abdulrahman Saleh Al Saleh who is the DoF director-general said that the new initiatives package comes with five initiatives aimed to encourage small and medium-sized businesses and public-private partnership. The work needs to be carried out while complying with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum and execute various economic and financial incentives for reducing the cost of doing business, aiding the registered enterprises in the emirate and also attracting more and more new investments.

The first incentive proposal is to pay all the dues of SMEs who are supplying goods and services government bodies within 30 days rather than 90 days, as long as the payment period is within the 10 days in case of the members of Dubai SME. As per the initiative, the government would be classifying the SMEs who are permitted to get their dues within 30 days. This initiative will be able to provide SMEs with some extra liquidity of Dh1.6 billion per annum.

The second initiative is regarding cutting down the value of primary insurance for all the SMEs to bring them between 1-3 percent range instead of 2-5 percent range, in order to promote them to carry on with supplying to the government agencies. As per this initiative, the minimum primary insurance has been reduced from the original Dh40 million to Dh20 million (which includes 80 percent of SMEs), while the maximum primary insurance was cut down from Dh100 million to Dh60 million (which involves 20 percent of the establishments).

This initiative also aims to offer better liquidity for SMEs, and also ensure bigger opportunities for them to take part in procurement to the government agencies.

The third economic incentive proposal is regarding the final insurance for the performance of SMEs in government projects. This initiative includes cutting down of the final insurance rate or “performance insurance” and slashing it from 10 percent to half or 5 percent on all the supplies. As per this initiative, the Government of Dubai plans to chart out a classification of SMEs who will be entitled for this performance insurance reduction.

This initiative will help to increase the total value of the retrieved final insurance from all the classified companies or businesses, which add up to almost 70 percent of the SMEs, going up to Dh100 million over a shorter period of time.

The fourth initiative aims to allocate 5 percent of government capital projects to the SMEs. Targeted at members of Dubai SME, this initiative will promote business setup in Dubai and various enterprises to expand their business, participate into key projects contracts particularly with the government agencies and also form alliances to contest for government projects.

This move of allocation of 5 percent of government capital projects to the SMEs enables them to get projects which are worth Dh400 million.

The fifth initiative is allocating projects worth Dh1 billion to the PPP, so as to invite the private sector investments, improve the government service quality and finally decrease the burden on the budget.

This initiative will make sure that there is optimal use of Law No.22 of the year 2015 on Public-Private Partnership, and the execution of the projects planned by government agencies are on time and in compliance with the Dubai 2021 Plan.

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Dubai Chamber has Announced Establishing New Zealand Business Council
  • Newsletter, U.A.E

Dubai Chamber has Announced Establishing New Zealand Business Council

Dubai Chamber of Commerce and Industry has recently announced forming of the New Zealand Business Council (NZBC) in Dubai for strengthening the relations between UAE and New Zealand and expanding their bilateral economic ties.

The New Zealand Business Council has become the 50th country-specific trade council to be formed in Dubai in the aegis of Dubai Chamber. About 100 New Zealand companies are members of this Council and they operate in an array of economic sectors like healthcare, trade, legal services, public relations, education, food and beverage, agriculture, aviation, hospitality and tourism.

This was announced during the inauguration ceremony held at Dubai Chamber’s head office and was attended by the Honorary Mr. Kevin Mckenna, who is New Zealand’s Consul General in Dubai & Trade Commissioner Gulf States; Mr. Clayton Kimpton, who is the Commissioner General for New Zealand Pavilion at Expo 2020; Mr. Hassan Al Hashemi, who is the Vice President of International Relations for Dubai Chamber; and several representatives from New Zealand companies established in Dubai.

Non-oil business between Dubai and New Zealand has been expanding in recent years and has reached AED 2 billion in 2018, and this was enhanced by the growing export of food products from New Zealand into the Emirate. The UAE ranks as one of New Zealand’s biggest trading partners, and this new council will augment bilateral cooperation especially in new economic areas, and both these business communities will reap benefits from New Zealand’s involvement in Expo 2020 in Dubai.

Mr. Al Hashemi talked about the importance of trade groups and councils in assisting Dubai’s economic development and competitive edge by offering their capabilities, expertise, and resources and valuable ideas on business and business setup in Dubai.

Dubai Chamber is a facilitator for trade groups and all the councils in Dubai and it aims to advance business between the trade communities of Dubai and improve ties between Dubai and several other countries globally.

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Six Must-Do’s to launch your Business Successfully in UAE in 2019
  • Article, U.A.E

Six Must-Do’s to launch your Business Successfully in UAE in 2019

UAE being an ultimate and attractive shopping destination, several entrepreneurs dream of setting up a thriving business in the Kingdom. But at times, if the investors lack the required ground work and networking, then they can fail in their efforts. Most business owners prefer DMCC company formation as the DMCC ranks as world’s top and most-preferred free zone. However, it’s important to step forward with caution and impeccable preparation.

So how can you launch a business successfully in the UAE? We have collated six steps for you, which can enable you in giving your best shot at new business setup in Dubai or UAE or if you have decided for company formation in Dubai.


Six Steps to set up a Successful Business in Dubai or UAE

1. A Comprehensive Plan

The first step is to make a detailed plan with business ideas about the particular industry you are planning to get into, your competitors, your business objective etc. Decide all milestones for all key tasks to be done and then work accordingly.

2. Know Your Market

The most important step before you step into any market is to know it in-depth. So, it’s advisable to spend time into thorough research to know the exact demand or requirement of the customers, the on-going trends, what are the dos and don’ts, etc. It’s best to research and then first your ideas so that you can understand your potential customers better.

3. Networking is the Answer to your Problems

Professional networking is another must-do if you want to go for company formation in Dubai. UAE and especially Dubai are places where citizens are social and love going out and meeting new people. Developing good contacts who can support you later, attending all major events, be it at a social or business level, can not only get you good advice and recommendations but also will act like advertising for your business. Also, striving to build a good network can lead to better business prospects, strategic partners in future who are in a position to help you in new business setup in Dubai or grow your business.

4. Financial Support

It is recommended to have excess finance forecasting at the beginning as it takes a while for a business to grow and start reaping profits. Take into account that you would need some time to spread awareness about your brand and make your footprint in the market, till then, you should be secure by having a good amount of working capital to back you up.

5. Marketing

Focusing more on your marketing plans will take you far for sure. It’s recommended to spend more on digital marketing as the UAE digital marketing data of 2018 shows that 9.38 out of 10 people are active on some social media forum and hence, digital marketing would definitely help in reaching out to more number of people.

6. Hiring the Best Fit

Hiring the right people would not only help in running your business, but also they help in its quicker growth. You will need a good mix of team who can give you the apt advice at the right time, who can work in the dynamic market of Dubai and UAE and help you launch and then grow your business.

7. Stay ahead of the game

There always will be many companies offering the same service; but you have a better chance to succeed only if you offer the top quality of products or services along with impeccable customer service. First, you should know your expertise, then you should apply it well to build your brand and gain experience and lastly, always think of how you can give something extra to your customers; only then you can surpass your competitors.

So, if new business setup in Dubai is on your mind, we at IMC, provide our support to budding entrepreneurs and companies who are looking for company formation in Dubai. To get solutions to all your queries, do contact us and we assure to assist you.

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