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    • Dubai's New Laws and Regulations: What Entrepreneurs Need to Know - Exitax

    Dubai is known for its dynamic business environment, and staying up-to-date with the latest laws and regulations is essential for entrepreneurs looking to set up and grow their businesses in the city. In this blog post, we’ll take a closer look at some of the new laws and regulations that entrepreneurs should be aware of.

    Dubai’s New Visa Regulations

    In 2019, Dubai introduced a new visa system aimed at attracting entrepreneurs, investors, and highly skilled professionals to the city. The system offers a range of visas, including long-term visas for investors and entrepreneurs, and a 5-year visa for retirees. Entrepreneurs can now apply for a 5-year visa if they meet certain criteria, such as having a business worth at least AED 500,000 or being incubated by a government-approved incubator.

    Changes to Company Ownership Regulations

    In late 2020, Dubai announced changes to company ownership regulations that allow foreign entrepreneurs to fully own businesses in the city. The new regulations allow for 100% foreign ownership of companies in specific sectors, such as agriculture, manufacturing, and renewable energy, among others.

    Dubai is known for its dynamic business environment, and staying up-to-date with the latest laws and regulations is essential for entrepreneurs looking to set up and grow their businesses in the city.

    E-commerce Regulations

    In early 2021, Dubai’s Department of Economic Development (DED) announced new regulations aimed at regulating e-commerce in the city. The regulations cover aspects such as licensing requirements, payment methods, and data protection, among others. Entrepreneurs operating e-commerce businesses in Dubai should ensure that they are in compliance with these regulations.

    New Tax Laws

    In early 2018, the UAE introduced a Value Added Tax (VAT) system, which is applicable to most goods and services. Entrepreneurs operating businesses in Dubai should ensure that they are registered for VAT and are compliant with the regulations. Additionally, entrepreneurs should be aware of any changes to tax laws that may impact their businesses in the future.

    Data Protection Regulations

    In 2020, Dubai introduced new data protection laws aimed at protecting the privacy of individuals and ensuring that personal data is collected and processed in a lawful and transparent manner. Entrepreneurs operating businesses in Dubai should ensure that they are in compliance with these regulations to avoid any legal implications.

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