Business consultants in ajman Running a business in the UAE is a lucrative and profitable venture thanks to the numerous freezones establish across the county like Ajman Media City. Freezones allow foreign nationals to have 100% ownership of their business, and business owners are exempt from paying taxes and import duties, among other benefits. Nonetheless, opening a business in a freezone or anywhere else does not exempt entrepreneurs from following the laws by the book. A number of illegal activities that might be overlook in other countries or would cause minor legal action to be taken against the perpetrator, can land them with a hefty fine or even a prison sentence in the UAE. Here are a few examples:
Bounced cheques and unpaid debts
In most countries, a bounced cheque or unpaid dues are punishable by making the person against whose name the cheque or debt is fill, to pay the owed amount or more and a fine. At most, it might lead to the liquidation of the person’s assets. However, in the UAE, you will not only be liable to pay off the owed amount, but you will be register as a criminal offender and will have to serve time in prison. Therefore, manage your payments and financial commitments accordingly.
Selling DTH cable TV services
Any business or person selling direct-to-home (DTH) television services such as Tata Sky, Dish TV or Airtel Digital TV are breaking the law. Any business, whether it is located in a freezone like Ajman Media City, or elsewhere in the UAE, is not spare from this law. In fact, a number of business owners and sellers have bore the brunt. According to a recent case, the perpetrators who were found guilty of selling DTH services, received a Dh50,000 fine, along with a prison sentence of three months. Nonetheless, businesses still continue to sell DTH cable TV services, which cost between Dh250 to Dh350.
Fundraising
Fundraising for a cause, whether it is to fund a charity or build a homeless shelter, is a celebrate activity that paints businesses in a good light in the eyes of the community. Fundraising might be good for the business, but in the UAE, it can get very ugly for the person responsible of it. All fundraising activities must be pre-approve by the Islamic Affairs and Charitable Department (IACAD). Any business owner or individual found guilty of appealing for donations or fundraising without approval from the department are in breach of UAE’s charity laws. Breaking the law, in this case, can land a person a fine of 250,000 to 500,000 dirhams, a prison sentence, and can even lead to deportation.
Imagine if something like fundraising can land you in jail, then what can be proven guilty of fraud or embezzlement do. All persons living or doing business in the UAE must strictly abide by the laws that are set forth, regardless of whether their business consultants in Ajman Media City, Dubai Marina or anywhere else in the country.
