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Legislations at Dubai Silicon Oasis

New Company Registration documents

  • Required Documents for setting up Business (download PDF)
  • Ultimate Beneficiary Owner Form (download DOCX)

The New Regulations are the corporate rules and regulations that determine the different legal structures that can be incorporated in the Free Zone and how they legally operate once incorporated. Together with a DSO company’s memorandum and articles of association (Regulation 21), the New Regulations provide the legal and contractual basis upon which a DSO company manages its affairs. The New Regulations were approved by Administrative Resolution No. (ADM LEGAL 001 2023) Regarding Approving DIEZA Implementing Regulations 2023.

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The Dubai Silicon Oasis free zone is considered a qualified free zone that meets the conditions stipulated in the federal legislations related to corporate income tax in the United Arab Emirates, where persons (companies) based in the free zone can be benefiting from a zero percent (0%) rate of the tax on its qualified income as specified by the Cabinet decisions and the ministerial decisions issued in this regard.

Access the Cabinet Resolution No. (54) of 2023 regarding defining free zones for the purposes of the Corporate Tax Law

 

Corporate Tax

Dubai Silicon Oasis is geographically designated and defined area in the United Arab Emirates and is considered a qualified free zone for the purposes of the UAE Corporate Tax Law (Federal Decree-Law No. 47 of 2022 on Taxation of Corporations and Businesses and its amendments). This allows businesses operating in the Dubai Silicon Oasis Free Zone to benefit from a 0% Corporate Tax rate on qualifying income as specified by the relevant Corporate Tax Cabinet and Ministerial decisions. For more information on Corporate Tax Law, please refer to the website of Ministry of Finance (English, Arabic).  

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Anti-Money Laundering Crimes Legislations

Federal Decree Law No (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations

This federal decree law constitutes a key pillar in combating money laundering and the financing of terrorism; as well as enhancing the efficiency of legal and institutional frameworks in the UAE. Pursuant to the provisions of this law, any person, having the knowledge that the funds are the proceeds of a felony or a misdemeanour, and who wilfully commits any of the following acts, shall be considered a perpetrator of the crime of money laundering: transferring or moving proceeds or conducting any transaction with the aim of concealing or disguising their illegal source; acquiring, possessing or using proceeds upon receipt; or assisting the perpetrator of the offense to escape punishment. This law ratified the establishment of the National Committee for Combating Money Laundering and the Financing of Terrorism and Illegal Organisations, to be chaired by the governor of the Central Bank of the UAE. Also pursuant to the provisions of this law, each of the designated supervisory authorities shall oversee, monitor and ensure compliance with the provisions prescribed in this decree by federal law and its executive regulations.

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The decision identifies the financial activities and operations; designated non-financial businesses and professions; the obligations of financial enterprises and non-financial businesses and professions for defining and mitigating risks; customer due diligence in terms of verifying customer identity and actual beneficiary, and necessary risk-mitigating procedures. The decision also clarifies the importance of reporting suspicious transactions, the obligations of non-financial businesses and professions if any criminal activity is suspected, as well as the policies, procedures and internal measures for combating criminal activity. The decision also discusses identifying and assessing the risks of money laundering and the financing of terrorism, and the assessment of risks prior to the launch of products or technologies. It further addresses details pertaining to transparency, actual beneficiaries, maintaining the confidentiality of information of suspicious transactions, together with identifying the mandates and functions of the financial intelligence unit.

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Complying with UAE Laws

As a responsible entrepreneur, you are obliged to comply with laws that

  • govern your business
  • protect labour rights, consumer rights and intellectual property rights
  • protect health and environment and ensure safety
  • govern the free zone in which your business is set up in

Laws governing your business

Your business will be governed by Dubai Silicon Oasis / Dubai Integrated Economic Zones Authority and in some cases might be additionally governed by another government entity. Specific laws relating to the type of business activity you conduct will also govern your business.

General laws relating to businesses are:

Laws protecting labour rights, consumer rights and intellectual property rights

The UAE has specific laws to ensure protection of labour rights, consumer rights and intellectual property rights. Links to the important laws is provided below. As a business owner, it is your responsibility to keep yourself updated and comply with these laws. Failure to comply with the laws could attract penalties as decided by the respective laws and competent courts.

Laws and regulations

 

Announcmenets

Name Change / Conversion of DSO Members
Inactive Companies
Reduction of Capital for Entities 

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