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All businesses in the UAE, including exempt, free zone and zero-rate businesses are required to register for federal corporate taxes. [24] Some emirates, including Dubai and Abu Dhabi charge a 20% flat corporate tax on the income of foreign banks based within their emirates. [25]
Some free zones (including ADGM, JAFZA, DMCC, RAK FTZ) allow for inward re-domiciliation of foreign companies, which means a transfer of a corporate seat of an existing company from abroad to the UAE free zone. [3] There are a few Free Zones in UAE [4] that offer Dual Business License for investors. [5]
As for other Free Zones in Dubai, the Dubai Multi Commodities Centre (DMCC) has 7,330 active registered companies (as per 2013), offers a retention rate of 94 percent, and estimates an application of over 200 companies every year. [1] The Dubai International Financial Centre (DIFC) is another jurisdiction demonstrating the growth of expansion.
UAE Exchange (Arabic: مركز الإمارات العربية المتحدة للصرافة; Markaz Al'Imarat Alearabiat Almutahidat Lilsarafa) is a United Arab Emirates-based company dealing primarily in remittance, foreign exchange and bill payment services. [1] [2] [3]
The Emirates Interbank Offered Rate (EIBOR), also abbreviated as EBOR, [1] [2] is a daily reference rate, published by the UAE Central Bank, based on the averaged interest rates at which UAE banks offer to lend unsecured funds to other banks in the United Arab Emirates dirham wholesale money market (or interbank market).
Aramex is an Emirati (Jordanian Origin) multinational logistics, courier and package delivery company based in Dubai, United Arab Emirates. [2] The company was founded by Fadi Ghandour and Bill Kingson in 1982 in Amman, Jordan. [2] [3] [4] It is the first Arab-based company to be listed on the NASDAQ stock exchange.
Emirates aircraft parked at Dubai International Airport. The so-called "Emirates business model" is the business model that lies at the heart of Emirates's commercial success. [1] Its main ingredients are a lean workforce comparable to a low-cost carrier and a flat organisational structure that allows the airline to maintain low overhead costs. [2]
This followed the creation of the UAE as an independent state in 1971. The original purpose of the UAE Currency Board was to issue an independent currency for the new state to replace the existing currencies in use: the Qatari riyal and the Bahraini Dinar. The new UAE dirham entered circulation on the same day the Currency Board was established.