Nam Accountants

VAT Registration And Its Impact Value Added Tax (VAT) Value Added Tax or VAT is a tax on the consumption or use of goods and services levied at each point of sale. VAT is a form of indirect tax and is used in more than 180 countries around the world. The end-consumer ultimately bears the cost. Businesses collect and account for the tax on behalf of the government. VAT Registration – What is VAT registration? VAT registration is the process of listing your business with the government as active in production and sales. Once you are VAT registered, you will become eligible for the return of VAT. Implication of VAT on individuals VAT, as a general consumption tax, will apply to the majority of transactions in goods and services. A limited number of exemptions may be granted. As a result, the cost of living is likely to increase slightly, but this will vary depending on an individual’s lifestyle and spending behaviour. If an individual spends mainly on those thing...

Reasons To Start Your Own Business In The UAE Why Choose Dubai As An Investment Location? The Dubai economy enjoys a competitive combination of cost, market and environmental advantages that create an ideal and attractive investment climate for local and expatriate businesses alike. In fact, these advantages not only rank Dubai as the Arabian Gulf’s leading multi-purpose business center and regional hub city, but they place it at the forefront of the globe’s, dynamic and emerging market economies. Dubai, with its ancient commercial and seafaring traditions, has long been recognized as the Middle East region’s leading trading hub and has emerged as its key re-export center. In more recent years, the Emirate has become a major venue for a number of growing, profitable industries and activities . Political And Economic Stability : Dubai is part of the UAE which is a low-crime and politically-stable country. Also, the UAE enjoys financial and monetary stability. Its well-d...

Changes to Foreign Ownership and Visa Rules Announc Residency system amended "The UAE will remain a global incubator for exceptional talents and a permanent destination for international investors. Our open environment, tolerant values, infrastructure and flexible legislation are the best plan to attract global investment and exceptional talents to the UAE," stated Shaikh Mohammad. He also directed the Ministry of Economy, in coordination with the concerned parties, to implement the resolution and follow up on its developments, and to submit a detailed study in the third quarter of this year. At a meeting of the Cabinet of the Council of Ministers of the United Arab Emirates (“ UAE ”), the UAE Government decided to allow foreign investors to own 100% of their  businesses  in the UAE and approved sweeping changes to the current UAE visa system. The changes were announced yesterday evening (20 May 2018), on Twitter, by Sheikh Mohammed Bin Rashid Al Mak...

Company Formation Company formation is the process of legally incorporating a business as a  limited  company or LLP at Companies House. Upon formation, a company becomes a legal individual with its own rights, responsibilities and liabilities.The process is also referred to as ‘ company incorporation’  and ‘ company registration’.                                               When you incorporate a limited company, it becomes an individual ‘person’ in the eyes of the law. Incorporated businesses are completely separate from their owners in terms of finances, liabilities, contractual agreements, and ownership of property and assets. How easy is it to register a company in Dubai? In most cases,  t he Dubai Company Act requires a foreign investor to have a local partner who will own the majority interest. The only plac...