Business

Business  ·  Entrepreneur
How to Check your Visa Fines in the UAE
Did you know that you can check your visa fines by yourself in the UAE? Whether you are a visitor or a resident in the UAE, it is important to ensure that you do not violate any of the requirements set out for your visa since most of the fines will be added every day.
 
You can use the websites of either of these two immigration authorities, to check for visa fines regardless of which Emirate issued the visa.
 

• Option 1 – Check Visa fine through ICP
• Option 2 – Check Visa fine through GDRFA

 

Option 1 – Visa fine inquiry through ICP

Step 1: Access the service online

• Click the link beta.smartservices.icp.gov.ae

• Scroll Down by reading each service and you will find a service titled as, ‘Fines – Pay Fines – Violations of Entry Permissions or Residences – Pay New Fine’. (Tip: 14th Service category)

• Click on the ‘Start Service’ tab.

Step 2: Fill in the details
You will be requested to select the module. If you are holding a residence visa, choose the file

number and if you are on visit/tourist/permit visa please choose Citizens of Certain Countries.

If you have residence visa, follow this:

• Fill in your file number. You can find the file number on the UAE residence visa page of your passport and fill in your date of birth.

• After filling out the information, tick the captcha box and click on ‘Search’.

• The system will then show any fines that have been levied on the visa.

If you are on tourist/visit/permit visa, follow this:

• Fill in your passport number, Passport type – for example: diplomatic, UN or ordinary passport, Date of Birth Current nationality

• After filling out the information, tick the captcha box and click on ‘Search’.

• The system will then show any fines that have been levied on the visa.

Option 2 – Visa fine inquiry through GDRFA

You can view if you have visa fines through GDRFA website as well.
 
2. From the first dropdown menu, select the file type:

• Resident (for residence visa holders)
• Permit (for visit or tourist visa holders)

3. Provide the following details:

• Place of issue (select the Emirate that issued the visa)
• File number
• Date of birth
• Gender

4. Next, you will be asked to solve a simple math equation, as a captcha verification process.

5. Next, click on the red ‘Submit’ button.

6. The system will then show any fines that have been levied on the visa. If you do not have

any fines, you will receive a green pop-up message on the GDRFA website notifying you that there are no fines on your file number.

Grace period

It is important to remember that UAE visa holders have grace periods in place, which give them some time to get their visa status sorted out before fines are imposed on them. The official UAE government website explains that if you are a holder of a residence visa, you have 30 days after the expiration date to either amend your status and obtain a new residence visa or leave the country. In the same way, the website reports that tourists and visitors have a grace period of ten days after the expiration of their visas. If they overstay their visa beyond this grace period, that is when fines are levied.
Common Taxes in the UAE
Business  ·  Entrepreneur
Most common taxes in the UAE

There is no doubt that UAE has been an attractive destination for offshore businesses due to the various tax benefits provided by the UAE Government. Further having 100% control of your new business and being easy to set up has made it even more popular among business owners to set up their businesses in the UAE. But have you ever figured what are the benefits and types of different taxes in the UAE? If the answer is no, this blog will be perfect for you.

Federal Taxes in the UAE

 

Income Tax

There is no income tax in UAE for foreigners. This means both employers and employees who hold residence visa does not need to pay income tax within the country.

Corporate Tax

Corporate tax in UAE has only levied only on oil companies up to 55% and foreign banks up to 20% sectors. All other business sectors are exempted from corporate tax.

Double Taxation

The UAE has 94 agreements with other countries in place with other nations to avoid double taxation on investments overseas. This allows the expatriates to send back 100% of their capital and profits for their country without double taxation

Taxes on goods and services in the UAE

Value Added Tax

Value Added Tax (VAT) was introduced in the UAE on 1 January 2018, at the rate of 5 percent. All mainland business transactions are liable to pay 5% VAT for the Federal Tax Authority of the UAE. However, if your business is established in a Free Trade Zone of UAE and you are not by any means dealing within the UAE you are not liable to pay 5% VAT. For more details, read our blog; Introduction to VAT in the UAE

Custom Duty Tax

Generally, if you import a product from a specific country and export the same to another country from UAE you are exempted from paying customs duty tax.

If you are dealing inside the UAE, customs duties in the UAE are set at 5% of the CIF value of most products. However, alcoholic, carbonated, and sweetened beverages have a 50% duty, as do electronic cigarettes and tobacco products. This high tax is known as Excise tax which we have covered in our next point.

Excise Tax

The excise tax was introduced across the UAE in 2017. Excise tax is a form of indirect tax levied on specific goods which are typically harmful to human health or the environment. Below are the business sectors that should pay excise tax.

  • Carbonated drinks – 50 percent
  • Tobacco products – 100 percent
  • Energy drinks – 100 percent
  • Electronic smoking devices – 100 percent
  • Liquids used in smoking devices and tools – 100 percent
  • Any product with added sugar or other sweeteners – 50 percent

 

Other Taxes

 

Taxes for tourist facilities

UAE imposes taxes for facilities provided by Restaurants, hotels, hotel apartments, resorts etc. from tourists. An individual would need to pay one or more of the following taxes:

  • Room rate – 10 percent
  • Service charge – 10 percent
  • Municipality fees – 10 percent
  • Tourism fee – 6 percent
  • City tax – (ranging from 6 to 10 percent)

Hotel rooms in Dubai are subject to ‘Tourism Dirham Fees’, which range from AED 7 to 20 depending on the category/grade of the hotel.

In May 2016, hotels in Abu Dhabi began charging an additional 4 percent of hotel stay bills and AED 15 per night per room in May 2016.

In Ras Al Khaimah, hotels charge AED 15 tourism fees per room per night.

Rental Taxes

Rental taxes vary according to the Emirates. In Dubai, residential tenants pay 5%, while commercial tenants pay 10%. In Abu Dhabi, UAE citizens are not taxed on their properties, but their expat counterparts pay 3%.

Useful Materials:

For more information about starting your business in the UAE, please feel free to contact us and our team would be glad to assist your business requirements.

Business
5 Benefits of Choosing a Business Consultancy in the UAE

Have you ever imagined, Business Consultants could be related to doctors; since both professions diagnose the problem and find a solution to relieve the pain.

The business pressure faced by Small and Medium-sized business owners could be intense on a daily basis. Starting up a business, learning and understanding the new rules and regulations of the markets, and managing the business itself are hard enough for a new company. On top of that business owners have to play important roles like Marketing Specialists, Head of Finance, Head of HR all at once. With so many shoes to fill in, most businesses could lose focus and fail to meet their goals inside the company. 

According to a report from Forbes magazine stated that “having no time to do it all is one of the top stresses faced by small business owners”. Click Here to find more about the report.

In such a case, hiring a consultant might be a huge time-saver, and a real asset to growth, while removing direct pressure from the business owners.

Benefits of hiring a Business Consultancy

  1. Experience and Knowledge

The most valuable benefit of hiring a consultancy is the experience and the knowledge possessed by the consultants about the business operations in the UAE. Since consultancy company directly works with numerous types of businesses, they might have a broader and deep knowledge about the industrial challenges, new business trends than internal employees.

2. Save Money

It is a must that business owners follow the business rules properly in the UAE. If a business fails to follow the rules it will be imposed huge penalties. But with the aid of a business consultancy company, there is a big chance to avoid penalties and unwanted pressure. Further, it would be much expensive to pay for an internal employee, if you are a small business owner. Because you must provide a monthly salary and other benefits for the staff. On the other hand, you can pay only for the service you get from a business consultancy company.

3. Time-Saving

The experience of business consultancy companies means that they know the best practices already. Combined with the collaborations and partnerships they can save you a chunk of your time, supporting you to focus on the most important things of your business.

4. Achieve Objectives

Some business owners might get lost in different documentation, submissions and might even fall into trouble legally, due to a lack of knowledge about the rules and regulations inside the UAE. But with the support of an experienced business consultancy company, you could avoid all the unwanted trouble and get your business issues sorted out quickly and efficiently.

5. The clarity in legal formalities

In UAE an investor might have to go through several legal formalities from business incorporation to bank account opening. In such cases, business owners may feel lost in the process. A business consultant is familiar with all the legal formalities and can ensure that the processes are been handled properly, bringing clarity to their investors.

If you are planning to hire a business consultancy for your business in the UAE, you should choose a company with more experience in the business industry inside the UAE. This will help you to avoid a huge amount of stress and focus on the primary objectives of your business.

With decades of trusted excellence behind us, Eagle Eye International has been a catalyst for the professional success of companies in the UAE since its inception in the year 1998. For any clarifications about your business in the UAE please feel free to contact us and our team would be glad to assist with your business requirement.

Business  ·  Life
How to Get a Residence Visa for Your Free Zone Company in UAE

In this blog, we would be focusing on how to get a residence visa for your free zone business in the UAE. Once you get your Free Zone business license the next step would be applying for residence visas of the company shareholders. Because for you to get a bank account for your business it is mandatory that all the shareholders of your business should hold valid residence visas. 

Read our previous post to know the benefits of free zone business formation: Why Choose UAE Free Zones for Your Business?

First, you are only allowed to apply for a residence visa through the free zone where your business was formed and only under the name of your business. For an instance, if you start your business in Sharjah Airport International Free Zone, you are only allowed to apply for a visa from the Sharjah Airport International Authority from your established company. 

Before proceeding with the visa, your company should be registered under the immigration department of the UAE. Meantime some free zones run a quick security measure on the investors of the company. This process is generally known as security approval.

Once your company is registered with immigration and passes the security approval, you can proceed to get visas for your company.

Generally, there are two ways of obtaining a visa; an Investor Visa and an Employment Visa. To obtain an investor visa you should be a shareholder of the business or else you’ll have to get an employment visa. Some of the Free zones request the business to keep a salary deposit plus air ticket on behalf of each employee. The salary deposit will be refunded to you once the visa is canceled Then the3 for that particular employee.

The process of obtaining a visa is almost similar for both shareholders and employees. Given below are the steps involved to get your residence visa.

Step 01 – Visa Application

The first step is to prepare the documents requested by the Free Zone authority for applying for the visa. Once you prepare the documents you must submit the documents to the relevant department of the Free Zone and make the payment for the visa. Next, the entry permit will be issued after the approval.

Step 02 –Change your Visa Status

Once you have completed step one, you need to proceed with changing your visa status. This means you need to change from the current visa status to the company residence visa. To complete this step, you may need to provide another set of documents to the relevant department of the free zone along with the status change payment.

Step 03 – Medical Fitness Test

After you apply for the change of status of your visa you could apply for the medical fitness test. In this test, they will take a blood sample and run a quick x-ray of your body. Generally, once your medical test is done you would get the results within 1-2 days.

Step 04 –Emirates ID Typing

Meanwhile waiting for the medical fitness results you could apply for your Emirates ID. Usually, you need to get the Emirates ID application typed by an authorized typing center inside UAE. Soon after you get the final document from the typing center you can make an appointment to go for provide biometrics for your Emirates ID.

Step 05 – Biometrics for Emirates ID

If you are new to the UAE and it’s your first time getting a residence visa you should complete the biometrics session from the Federal Authority for Identity and Citizenship (FAIC). You may have to visit there with the relevant documents and provide the biometrics for the Emirates ID.

Step 06 – Visa Stamping on your Passport

The last step would be to get your visa stamped on your passport. You have to prepare the documents (depending on the free zone requirement for visa stamping) and submit them to the Free Zone along with your original passport to complete the visa stamping process. At last, you will receive the passport back with the visa stamped on it.

Congratulation now you are holding a residence visa in the UAE. Your Emirates ID will arrive in the post office or at the mentioned location in your Emirates ID typing document. However, you will receive an SMS for your provided phone number about the arrival of your Emirates ID.

These are the main phases of obtaining a residence visa in the UAE. If you need further guidance and more information, please feel free to contact us and our team would take care of the business requirements for you. We are there to support your business.

Business  ·  Entrepreneur
5 Tips to Consider Before Starting an E-commerce Business in UAE

UAE is one of the top emerging countries that actively promote the e-commerce trading platform. UAE despite having only one-third of the population managed to outperform Saudi Arabia by having an e-commerce market value of over US$10 billion. A recent Mastercard study found that 73 percent of UAE consumers are shopping more online than they did before the pandemic. Get more stats about the study here.

Recently, the Dubai government launched the Dubai E-Commerce Strategy with the aim of solidifying the city as a global logistics hub for the Middle East and increasing its share of the local economy to AED12 billion (approx. US$3.2 billion) by 2023.

With 100% ownership of your business and tax exemptions, this looks like the perfect time and opportunity to start your eCommerce brand in the UAE.

Source: https://www.paymentscardsandmobile.com/

It’s relatively easy for you to start and manage your E-commerce business if you choose your business set up properly. Since there are numerous ways for you to get an eCommerce license in the UAE, finding the most reliable, and cost-effective business setup solution might be a time involving the issue.

Given below are 5 tips to consider before starting your E-commerce business in the UAE.

 

1. Choose E-Commerce packages wisely

 
We thought of putting this tip as number one since most people often get annoyed with E-Commerce packages. Most companies offer business start-up packages to attract or bait clients which only include the cost for your business license. Your residence visa and bank account opening cost will need to be settled separately. Further, to open a business bank account in the UAE, all the shareholders of the company should hold residence visas. So, it is a must for you to get a visa for all the investors of your company if you are planning to get a bank account. If you are choosing a business start-up package, make sure that you are clear about the cost involved for a residence visa and bank opening.
 

2. Select the most relevant activity for your business

 
In UAE you can hold three types of licenses (Commercial, Service, Industrial) and the license should be renewed every year. Once you choose the license type, the next step would be to select your business activities. If you are planning to cater to a specific business sector, then you can choose one of the business activities from the business activity list provided by the licensing authority. Check out the available business activities provided by the Department of Economic Development – Government of Dubai. If your plan is to cater to multiple business sectors you could go ahead with the most common activity called ‘General Trading’.
 

3. Choosing your Licensing Authority

 
Choosing the most reliable licensing Authority is one of the most important decisions to make in your business setup. In general, you could either choose a free zone authority where you can get 100% Ownership or choose a Dubai Mainland license where you must get a local sponsor with 51% ownership. The decision is entirely up to you since both have their pros and cons if you need more details about choosing the business structure contact our team and we would provide you with more information.
 

4. Choose a name for your Business

 
It is mandatory to take approval for the company name. Further, there is a certain limitation when naming a business. For an instance, you can’t use a service in your business name if you are getting a commercial license. You can check with the licensing authority for the name availability, or you could use the support of a service-providing company like us to get your name approval for your business.
 

5. Choose a facility for your business

 
If you go ahead with a free zone establishment you could get an already built facility from the licensing authority itself. You could choose from a wide range of spaces for an annual rent. Starting from virtual offices, shared offices, dedicated offices, customizable offices, warehouses, and many more. If you decided to go ahead with a mainland company, you may need to find a suitable office space separately.
 
 
 
Eagle Eye International has been a catalyst for the professional success of companies in the U.A.E. since its inception in the year 1998. With over decades of trusted excellence in incorporating businesses in the UAE, we could assist your business formation. Should you have any inquiries to set up your business in the UAE contact our team on +971 240 1778 and our team would be glad to assist you.

Business
Free Zone Business Formation – Top 15 Frequently Asked Questions (FAQ)

 

1. What is a free zone company?

Free Zone business setup is the most demanded business setup in UAE mainly due to the 100% ownership for all the expatriates. Free Zone is a geographically defined area where all international businesses are allowed to trade goods and services enjoying the benefits like taxes within the limits. For more details about the free zone,  check out our blog post: Why Choose UAE Free Zones for Your Business? Pros and Cons Explained

 

2. Can I own 100% ownership of my business in the UAE?

Yes, you can own 100% ownership of your business if you setup your business in a Free Zone.

 

3. What is the minimum share capital required to form a company in a Free Zone?

Most Free Zones do not require a minimum share capital to start your business.

 

4. Can I carry out business anywhere with a Free Zone Company?

You are allowed to carry out your business internationally and inside the designated area of the free zone with all the benefits. If you are planning to deal with the mainland of the UAE, you could get the support of a mainland registered company, or else you need to setup a company in the mainland.

 

5. Should I visit UAE to setup my business in the UAE?

No, generally you can setup your free zone business virtually with the help of a business setup company. But your presence is mandatory for visa application. If all the shareholders of the company don’t hold residence visas you will not be able to open a bank account.

 

6. Can I get a residence visa after registering my business in the UAE?

Generally, yes. You should apply for visas once you open the company. Most packages provided by business setup companies cover only the business registration. You may get visa quotas, but they will not include the cost of the visas. Visa charges must be paid separately. If you are obtaining a license with a virtual office, make sure you have a visa quota, if you need a residence visa since most virtual office packages start from 0 visa quota.

 

7. How many visas can I get for the company? Can I get unlimited visas once we open the
company?

No, you cannot buy unlimited visas for your company. The number of visas allocation depends on the size of the facility, or you have to buy the visa allocation separately. These two are the ways of increasing your visa quota.

 

8. Is it allowed to do international business with a free zone business license?

Yes, you are allowed to do international business.

 

9. What tax benefits will I get from setting up my business in a Free Zone?

You will be free from income tax, duty tax, corporate tax, and even double taxation if you are trading goods or services inside the free zone or internationally.

 

10. Should I pay VAT (Value Added Tax) if I setup my business in a free zone?

No, you do not need to pay VAT if you trade goods or services inside the free zone or internationally. If you provide services on the mainland, you must pay 5% VAT. For more details about VAT check our VAT Guide here: Introduction to VAT in UAE

 

11. Should I pay only once to register my business, or should I renew every year?

Most people think it’s a one-time payment. But in UAE you should renew your business every year. There are options to get the license for 3-10 years straight for the existing price from certain free zones. It’s mandatory to renew the trade license every year.

 

12. Can I open a bank account for my business with a free zone license and any limitations?

Yes, you can open a bank account for your business with a free zone license, but some nationalities will have certain limitations. Contact us to find more details. Further, all the shareholders of the company should hold a residence visa in the UAE to open a bank account in the UAE.

 

13. Can I have a USD, EUR, GBP currency account in the UAE?

Yes, you can get your preferred currency account by depositing money in the account.

 

14. If the commercial license expires, how does that affect the bank accounts?

Once the company trade license expires you may receive a grace period to renew the license. If you do not renew the license during the period, your bank account will be temporarily frozen until you renew the trade license of the company. However, the bank will start sending you reminders before freezing the account.

 

15. Can I import and export products from a free zone established company?

Yes, generally you can both import and export products by registering your free zone company with the customs. Some free zones offer onsite custom service which will be helpful if you are importing and exporting products. (Sharjah Airport International Free Zone, Jebel Ali Free Zone).

UAE-Free-zone-Business-Setup-EagleEyeInternational
Business  ·  Entrepreneur
Why Choose UAE Free Zones for Your Business?

For the past years, UAE got attention from investors all over the world for its unique geographical location and tax benefits provided for international businesses. If you are planning to setup your business in UAE this blog will be helpful for you to get an idea about why choose a UAE-free zone for your business setup.

Free Zone business setup is the most demanded business setup in UAE because of the 100% ownership. Free Zone is a geographically defined area with a boundary where businesses are allowed to trade goods and services within the limits. There are over 60 Free Zones in the UAE and each free zone offers different benefits compared to each other. There are some free Zones dedicated to Media, Health Care, Education, Manufacturing, Importing and Exporting, Trading, and many more.

Finding the best free zone for you depends on the business activity you are looking to do in the UAE. Some business activities require several business approvals which must be taken separately by different respective local departments. For example, an aviation business should take special approval from the civil aviation department.

Further, you need to choose a facility as well for your business in the UAE. You could choose from virtual offices to ready-built shared offices, dedicated offices, warehouses, or even buy a plot of land to construct your own facility. Generally, it’s not that difficult to setup a business in a free zone in the UAE. Most Free Zones provide the business license within one day. Check out our post on how to start a free zone company in UAE for more information.

There are mainly three types of legal structures in a Free Zone business formation:

  1. FZE (Free Zone Establishment) – One Shareholder in the Company
  2. FZC (Free Zone Corporation) – Multiple Shareholders in the Company
  3. A Branch of a local or international company

Pros of Setting Up a Business in UAE Free Zone

 

Pros-of-uae-free-zone-business-setup-EagleEyeInternational

1. 100% Business Ownership

Unlike in Mainland businesses where the highest shares of the company should be obtained by a local sponsor, Free Zones offer 100% ownership to all foreign business owners from small to large enterprises.

2. Setup your Business within one Day

It is relatively easy to setup your business in a Free Zone and most free zones offer business licensing within a single day.

3. Own dedicated Free Zone Jurisdiction – Trouble-Free Immigration Procedures

Investors and employees will get 2-3 years’ residence visas depending on the chosen free zone for your business. Each Free Zone has its own in-house team to process immigration-related services. Employees will benefit from many privileges from the visas like sponsoring their family, spouse, and children

4. 100% Repatriation of Capital and Profit

UAE offers 0% income tax for businesses and has a double taxation avoidance agreement with 135 countries. Business owners could get the full tax benefits.
Find out with what countries UAE has signed an agreement to avoid double taxation

5. Corporate and Duty Tax Exemptions

Enjoy 0% corporate and duty tax if you offer your service inside the Free Zone or import and export products internationally without dealing with the mainland of the UAE. However, it’s not the same case in mainland businesses. If you are offering a product or service for the mainland business community, you are liable for corporate tax (VAT) of 5% and duty tax separately. Check our blog post about Introduction to VAT in the UAE.

6. Labor and Staff Accommodation

If you are planning to hire employees for your company, some free zones offer onsite labor and staff accommodation, so you need not worry about your employees’ shelter. Restaurants and recreational centers are available in the free zone itself.

Cons of Setting Up a Business in Free Zone

 

1. Limited Business Expansion
 
Limitations on providing services for the mainland of the UAE. You can enjoy the Free Zone privileges inside the boundary of the free zone. You require to pay corporate and duty tax if you are dealing with the mainland of the UAE.
 
2. Business Activity Restrictions
 
Some of the unique business activities are not allowed to provide in Free Zones. These types of special businesses should be incorporated in the mainland. Especially, if you are providing government or local services you may need to establish your business directly in the mainland.
 
The best setup for your business depends on the activity you are planning to do in UAE. If you are planning to import and export products or want to do international business Free zone business is the best for you with its logistics, infrastructure, and tax benefits. 
 

Eagle Eye International is a corporate service-providing company with over 22 years of experience in the UAE. Book a free consultation with our team to find out the most reliable and cost-effective solution for your business in the UAE.

ISO
Business
How to get ISO Certification in Dubai, UAE

In your day-to-day business you may have come across ISO standards. But do you really know what ISO Standard really meant. In this blog we will explain you about the ISO standards and whether your company should really get the certification as soon as possible.

What is ISO Standard?

ISO is an independent non-governmental organization developing worldwide proprietary, industrial and commercial standards. Its history begins during 1940s in Geneva, Switzerland and works with over 160 countries worldwide.

Some of the best-known standards developed by ISO are:

ISO 9001 – Quality Management Standards

• This standard ensures that the service or the product of the organization consistently meet their customer’s requirement

ISO 14001 – Environment Management Standards

• This standard focus on enhancing the environment performance of your business. It ensures that your business continuously measure and improve the environmental impact.

ISO 45001 – Occupational health and safety Management Standards

• This standard ensure that your business manage the best safety procedures and reduce workplace hazards. Guaranteeing your employees leave for home safely.

ISO 22000 – Food Safety Management Standards

• This standard focus on providing the highest level of food safety for the end consumer throughout the life cycle of the food process.

ISO 27001 – Security Management Standards

• This standard support the business to manage the security of assets, intellectual
property, financial data, employee data and other useful data.

Advantages of obtaining an ISO Standard

• Boost confidence of the consumer that the product/services you provide are safe, reliable and are of high quality.

• Increase the efficiency of your business and decrease mistakes by implementing international standard procedures.

• Save your time and money by identifying the problems

• Improve client satisfaction and retention

• Boost employee’s health and safety

• Improving the environment impact

How to obtain an ISO Certification?

At ISO they develop the international standards such as ISO 9001, ISO 45001 but they do not involve in issuing certificates. The issuance of the ISO Certification is performed by the external certification body (CB). To understand this in more detail way you could refer to the below ranking board.

Develop International Standard

Provide Accreditation for the standard body of the country

Providing license for the certification body ensuring that they follow the ISO Standards. Generally, there is only one accreditation body for a country.

Certification body is accredited to Perform audit and issue certificate stating that a company is compliant with the ISO standards.

The company that needs to obtain the ISO Certification

9 steps to complete the ISO Certification

Step 01

Choose one of the ISO Certification (ISO 9001, ISO 14001)

Step 02

Choose an accredited Certification body for the ISO Certification

Step 03

Create an agreement between the company and the certification body. This contract will include the access rights, confidentiality and liability issues

Step 04

Company Document review by the ISO Auditor and note down the possible loopholes in the company against the requirement specified in the chosen ISO Standard.

Step 05

Build an action plan to eliminate these loopholes inside the company with the instruction provided by the ISO Auditor.

Step 06

Create awareness among the employees about the new procedure implemented to eliminate the loopholes and change their work process according to the ISO standards.

Step 07

The Auditor will start auditing the changes and possibly search for non-conformities. Company then asses these identified non-conformities and rectify through the processes used before.

Step 08

If the auditor is satisfied with the outcome, the ISO auditor will arrange the final audit report and forward it to the certification body.

Step 09

The Certification body will then issue the ISO Certification for the company based on the final audit report provided by the ISO Auditor.

Surveillance audits

Once a year, a surveillance audit will be conducted by an ISO Auditor to ensure that the quality of the ISO standards is being maintained by the organization.

With over 22 years of experience about the UAE economy Eagle Eye International strive to provide the most reliable solution for your business. Been one of the best consultancy firms we always ensure that our client get the best service for their business requirements. For further details and information about the ISO Certification please contact us on +971 56 240 1778 and we would be glad to assist.

Business
Introduction to VAT in UAE

Value Added Tax (VAT) was implemented on 1st of January, 2018 in UAE at a rate of 5% for every mainland transaction. The Value added Tax was imposed to help UAE government move towards its vision of reducing dependence on oil and other hydrocarbons as a source of revenue.

The transactions between a selected group of free zones remains free from paying VAT. All the other business transactions will be liable to pay 5% VAT for the Federal Tax Authority. (FTA)

Only VAT registered businesses are authorized to collect 5% tax from the transaction amount on behalf of the government from the customers. This collection of payment will be paid to the Federal Tax Authority through the online portal every three months. (VAT Filing)

At the same time, VAT registered businesses receives a refund from the government on the tax that it has paid to its suppliers.

Criteria for registering for VAT

Option 1– A business must register (Mandatory) for VAT if its taxable supplies and imports exceed AED 375,000 per annum.

Option 2– It is optional for businesses whose supplies and imports exceed AED 187,500 per annum.

How to register for VAT?

Businesses should register for VAT through the Federal Tax Authority (FTA) website. First the applicant should create an account. You may have to provide relevant document for the registration.

There are mainly two process involved in the VAT Registration.

  1. Create the E-Service Account
  2. VAT Registration Process

1. Create the E-Service Account

First the applicant should create an e-service account through the Federal Tax Authority website. This is quite similar to creating an online account on Yahoo, Gmail etc.

  • Visit ‘https://eservices.tax.gov.ae‘ and click signup and enter the details such as functioning E-mail ID, Password, security code and security question (Please remember the security question for later use).
  • Verify the E-mail- You will receive an E-mail for your registered E-mail.
  • Log in to the account with the Username and Password.

2. VAT Registration process

First the applicant should login to the e-Service account using the login credentials. Soon after you log into your account you will see an option called ‘Register for VAT’.

VAT- Getting Started Guide

Click on ‘register for VAT’ and you will be directed to ‘Getting Started Guide’. Each section of the guide contains the information required for successfully completing the VAT Registration. Please carefully read the guide and please tick the box with ‘Click here to confirm that you have read the getting started guide’ and click ‘Proceed’.

VAT Registration Form

Once the applicant clicks on ‘Proceed’ he/she will be directed to the VAT Registration Form.

The form will contain 8 sections and each section should be filled by the applicant to successfully register for the VAT. Different colour indicators will show the progress of the VAT Registration. The section that are completed will be indicated by a green tick and the updating section will appear in brown. Fill in all the sections with relevant information, the portal will only allow you to move to next sections if the details are captured in all the mandatory fields which are denoted by a red asterisk (*). For any further clarification do not hesitate contact our Eagle Eye Team our team will assist you in completing the process.

Review and Submit

Fill in all the required details in each section and at last on the 8th section you should verify the provided details and submit for the Federal Tax Authority Approval.

Upon successfully completion appliocant should receive your VAT Certificate with TRN Number within one month from the date of submission.

Business  ·  Entrepreneur
How to start a company in Free Zone?

One of the most demanded business startups in UAE is the Free zone company business setup.

Its relatively easier to setup a free zone company compared to a mainland company. Free zone authorities require minimum paperwork and duration as well. There are over 40 Free Zones in UAE.

Each Free Zones has its own quirks and features that offers opportunities and benefits for businesses. For instance, UAE has specific free zones dedicated to Education, Research and Innovations, Technology, Entertainment and Media, Healthcare and etc.

With a wide variety of activities inside Free Zones, identifying the most suitable Free Zones for your business is a challenge faced by new businesses today. Given below are three steps that you could follow to identify the most effective Free Zone for your businesses.

  1. Build the initial plan for your business
  2. Choose the most suitable Free Zones that would suites your business plan
  3. Setup your business

1. Build the initial plan for your business

The most common mistake that people make is that they do not have a proper idea about the rules and regulations of the Free Zones.

Opening a business in Free Zones is relatively easy. Some Free Zones offer business licensing within hours and does not even require a capital.

But there are other aspects like Visa processing, Government Registrations and Business Renewals (License Renewal, Facility Renewal, Establishment card Renewal, E-channel Renewal, Government Renewals) that could be complexed for new businesses and will acquire a considerable amount of money and time based on your preparation.

Another major problem that people face is winding up a company. UAE Free Zones have a detailed process when it comes to winding up a company. People who fail to meet the requirements will have to pay huge amount of fines. None of this problems would exist if you have a proper plan for your business and understand the Legal system of the dedicated Free Zone. So it is crucial that you have a proper plan for your business before choosing any Free Zones in UAE. Start building your plan with these steps.

  • Determine the number of investors (Legal Entity)
  • Choose a company name
  • Identify the business activity
  • Choose a facility for your business (Offices, Warehouse, Plot of Land)
  • Number of Visas required for the business

2. Choose the most suitable Free Zones that would suites your business plan

Once you have a plan for your business you could choose a Free Zone. Plus you could have access to all the information of the Free Zones by visiting their website.

Once you know more information about Free Zones, find which will offer you the best advantage based on your business plan. Or else you could request assistance from a consultancy company to provide you more information for free without any cost. Present them your overall business plan and they will provide you the solutions.

Many Free zones offer discounted price due to the current pandemic situation and you could use this as an advantage to start your business for a great price. Given below are some of the recommended Free Zones for your business setup.

3. Setup your business

Speak with a representative of the chosen Free Zone and present your business plan to them. The team will guide you through the process. Most importantly, they will check the availability of the suggested name and the business activity of your company. If your business is related to Medical, Education you may require to take approvals from the relevant authorities. Further the owners and shareholders of the company will have to sign the documents provided by the Free Zone. Upon completion of these steps you will get your business license.

Eagle Eye International is a professional business consultancy company with over 40 years of experience in UAE. We have assisted over hundreds of business formation. We will assist from analyzing your business requirement to delivering your business license. These are the below services that we would assist you in the business formation.

  • Getting Name Approvals
  • Activity Approvals
  • Shareholder’s Structure
  • Necessary Documents Arrangement for Signatures
  • Business Registration
  • Business Licensing
  • Corporate Consultancy
  • Documents Submission & Get the Original Documents
  • Handing over the Original Documents – Trade License, MOA, Tenancy Contract
  • Documentation and typing of the company establishment card
  • Documentation for the E-channel Registration

If you need any clarification, please contact our team and we would be glad to assist.

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