Many people have turned their life 360 degrees by moving to Dubai. For people who have been affected by this disastrous Coronavirus in the past few months, we highly recommend that you consider moving to another country for a better life and consider moving to the UAE.

Many people all over the world consider becoming the boss of their own company. Many succeed as well. Due to the virus, many people were laid off from their jobs. This was no less than chaos. However, people didn’t give up, and they worked hard, invested their savings, and became their boss by starting their little businesses that are now skyrocketing and gaining maximum profit.

If you’re on the verge of starting a business at this point, we highly recommend that you to move your business to the UAE and benefit from free zones such as the Ajman Media City Free Zone.

Ajman Media City Free Zone

Before we start opening up about the endless benefits of Makateb, we must know what this is.

It is safe to say that Makateb is providing an unending ocean of opportunities and incentives for people who want to start their businesses in the UAE.

Without any hesitation, we recommend you get yourself registered with Makateb.

Why Ajman Media City Free Zone Makateb?

Let us tell you why Makateb is treasured by business owners in the UAE:

1. Compared to other free zones that you might find in the UAE, Ajman Media City Free Zone is no less than a paradise for entrepreneurs.
2. It offers endless and better incentives than any other free zone
3. It is considered to be a very important zone when it comes to an economy that offers numerous facilities to entrepreneurs
4. Ensures profit on their investments
5. Provide endless support till and when the business flourishes to extreme heights

Another great benefit that you get with registering yourself with Makateb is that they provide a cost-effective method for your startup and make sure you get what you put in.

If you are registered with Makateb, you get equal rights and profits as the UAE-origin businesses.

Advantages of Ajman Media City Free Zone

There is no doubt that Ajman Media City Free Zone provides many advantages if you set up a business in the UAE.

Below are some of the reasons why you should consider Ajman Media City Free Zone for your businesses:

Trading License

Let’s say you’re an entrepreneur and are looking to get yourself registered with a free zone to benefit from it. However, it takes a lot of time to get yourself registered and a trading license with other freezone companies.

This is the main reason why we suggest that you choose Makateb as they have an easy and quick registration process that can get you your trading license in approximately one day.

For the registration process and getting your license, you must visit the Makateb office with all the important documents and submit them to the administration. The rest will be taken care of them automatically. Following are the documents that are needed to ensure a hassle-free issuance of your license:

1. Signed and stamped request letter
2. License copy
3. Establishment card
4. Passport copy
5. One photograph
6. Business plan

You submit all these to the office, and you can effortlessly get your business set up in the Makateb in approximately 2-3 days.

Low costs

Another merry reason to choose Ajam Free Zone for the first time and experienced entrepreneurs is the low cost. No wonder it comes in the list of the best traders in the UAE.

They provide you with cost-effective methods to set up your shop for your business. The cost is independent of the immensity of your great business startup as this particular freezone welcomes all kinds of businesses.

Ajman Media City Free Zone especially believes in helping and working with small setups with a tight investment plan and ensuring that they have the best experience while running their businesses.

Many free zones do not prefer working with businesses that start on a small scale. This makes Ajma Ajman Media City Free Zone Makateb special and the best as they help you take your business to great heights without considering the amount involved.

Best Locations

Every entrepreneur dreams of setting up their shop in an area where the shop is highlighted. Moreover, they wish to set up their shop to attract people to visit and buy from them.

This is where Company Setup Ajman Media city steps in. They work on getting a feasible and highly strategic location that would end up being perfect for your business. All the businesses that have been set up with the help of Consultation result Ajman media city have had major profit gains since the day they started their business in the United Arab Emirates.

Ajman Provides is considered ideal for entrepreneurs who start their businesses, especially businesses related to imports and exports.

Ajman Media City Free Zone is close to two of the major international airports, the Sharjah International Airport and Dubai International Airport, located in the UAE.

Also, it is close to four major ports in UAE, and they are:

1. Khorfakkan seaport
2. Seaport Khalid
3. Seaport Rashid
4. Ajman seaport

The area is also connected to major Countries like:

1. Kuwait
2. Qatar
3. Europe
4. Iran
5. Saudi Arabia

And many more.

Easy Visa Options

Some more great news for entrepreneurs setting up their businesses or companies with Makateb is that they will have multiple visa options and packages.

There are two major packages, and they are:

1. Smart Package: This Smart Package gives the business owners three visas at one time
2. Executive Package: This Executive Package gives five visas to business owners at one time.

Low Nationality Issues

People facing issues regarding their visas can submit their visa approval applications and get them processed with the immigrant office of Ajman. Through them, you will not have to pay any money to the organization or cancel your visa if you have one currently.

Ajman Media City Free Zone For Everyone

Many entrepreneurs want to get their license for trading through Ajman Media City Free Zone because they take care of all the needs and requirements of the business owners and help with all the trading as well.

Ajman Media City Free Zone Makateb provides two main types of licenses to the Entrepreneurs, and they are for professional dealings and dealings with industries. These are much better for entrepreneurs compared to numerous free zones in the UAE.

This fact makes Ajman Media City Free Zone the perfect free zone for entrepreneurs to share their ideas with other businesses, share their interests, and grow accordingly.

Corporate Bank Accounts

With the Consultation from Ajman Media City Free Zone , choosing the right bank for you and your business has become easier. The consultants at Makateb guide you properly with the process of opening a corporate account with the best bank that there is. The best part, Ajman Media City Free Zone consultants also offer to attend all the meetings concerning your business with the bank to make things extremely easy for the business.

Dependents

Once you register your business with the Makateb, you will be at ease. Not just for your business but for your visa and for the visas of your family as well. As we said, Ajman Media City Free Zone Makateb takes care of everything for you. The organization allows you to easily sponsor anyone from your family and other acquaintances, and even your office employees that you want to place in your business.

The only important thing is that you should fulfill all the requirements to be the person who can sponsor visa applications for their family. The requirements include a salary between 3000-4000 AED and a place that can easily accommodate your family.

There are many other things such as:

1. Medical tests
2. Visa stamps
3. Emirates ID
4. Status adjustment

Etc. But if you leave it to the Ajman Media City Free Zone Ajman Media City Free Zone , you do not have to worry about anything. They know how to process everything smoothly and give you the results. The only thing that you are required to do is to make sure that the dependent that you sponsor follows all the requirements that allow their entry into the UAE.

Some more benefits

1. 100% ownership of investors
2. 100% profit returns
3. Economical rents
4. Affordable buildings and power supplies
5. Less to zero taxes and duty on imports and exports

What are you waiting for? Get yourself registered now!

The post Ajman Media City Free Zone, Perfect Place For The Entrepreneurs appeared first on Business Incorporation and Business Setup in Ajman, UAE | Mamc.

Legalities

Ensuring all legalities are taken care of, is of the highest priority. Trade, food and liquor licenses need to be acquire. Before starting construction of a restaurant or cafe, approval needs to be taken from the relevant department, along with permission from the freezone authorities. Also, the food code should be follow religiously to avoid getting into trouble with the health department, and ending up with a suspend license. Any other paperwork of the business or the employees need to kept in place.

Interior

The interior needs to perfectly compliment the theme that of the restaurant. Also, it should be comfortable and inviting. The interior sets the overall tone of the restaurant, and contributes to the ambiance of the place. A person can select the interior themselves, or hire an interior designer for this task.

Location

Find a good site to start your restaurant. Don’t settle for a substandard place because of the low rent as it will badly affect your bottom line. Thus, it is best to consider where the restaurant will attract the most customers, when searching for a place in Ajman Media City Freezone.

Staff

Be very picky when hiring staff for the rest. Make sure that their paperwork is complete, demeanour is hospitable and rate is manageable. The staff is the one that directly deals with the customers, so that needs to be well-train, well-manner and with a well-groomed appearance, to avoid leaving a bad impression on the customers.

Costs

Despite all concessions and incentives being offered to restaurant business setup in dubai in freezones, it is necessary to have a long hard look at the finances. All unnecessary costs need to be eliminated to increase the profits, and to achieve the utmost level of efficiency. Also, lower costs would mean that the prices of food will also not be sky high.

Experience

Don’t provide just food; elevate their experience by integrating technology in the whole ordering and feedback process, adding an in house tandoor, hiring musicians, and adding edgy items to the menu that will be presented in a unique manner. Or better yet, turn customers working as corporate slaves in the Ajman Media City Freezone into regulars, by providing them a pleasant and relaxing environment – somewhere they can feel satisfied and refreshed after a long day. Overall, the goal is to present customers with something they can’t get anywhere else.

Menu

Creating a menu that is well-priced, with dishes articulately selected to maintain uniqueness, yet provide customers with food that appeals to their taste buds, is a tricky task. While there are so many options to choose from, one thing should be kept in mind, a customer coming to dine after a hectic day at work in a freezone office, doesn’t want finger sized food that costs them an arm and a leg. They want a delicious and filling meal.

Food

UAE has people from all around the world visiting and residing in it, so doing right by everyone is impossible. Create delicious food with the freshest ingredients and the perfect seasoning/spices. Also, standing out from amongst pre-established restaurants serving the same cuisine is no piece of cake.

These were the main pointers that every entrepreneur and investor who wants to open a restaurant business, should keep in mind, as taking care of these factors will allow any eatery to thrive, and not just in Ajman Media City Freezone, but in any UAE freezone, or in any business district across the world.

The post Tips to Run a Restaurant in Ajman Media City Free Zone appeared first on Business Incorporation and Business Setup in Ajman, UAE | Mamc.

Digital Adoption Is On The Loop

Digital payments were fast expanding even before the covid-19 pandemic. For example, between 2014 and 2019, the number of consumer digital payments transactions in the United Arab Emirates (UAE) increased by more than 9% each year, compared to 4 to 5% in Europe. Even more dramatically, between February 2019 and January 2020, Saudi Arabia had a sudden increase in card payments of over 70%.

The covid-19 pandemic has accelerated these already outstanding growth rates. More than three-quarters (80 percent) of payments practitioners polled by McKinsey assessed that non-cash payments had increased by more than 10% across the area due to the pandemic, with 43 percent believing that the increase surpassed 20%. Moreover, data from certain nations show even faster growth rates: in Saudi Arabia, for example, digital point-of-sale (POS) transactions doubled in January 2021.

Furthermore, payments professionals believe that the transition to digital cash would be permanent. According to a poll, 90% anticipated that at least half of new users would remain with digital payments rather than revert to cash afterward. Furthermore, more than half of surveys proved that rapid growth in non-cash payments would continue over the following five years, resulting in a total rise in digital transactions of more than 50% in the year 2020 across the area.

Open Banking Is Revealing Itself

Several Middle Eastern nations are implementing open banking open financial data, a regulatory reform mandating banks to exchange financial data with other banks or license financial service companies (with their agreement). Bahrain, for example, introduced open-banking legislation in 2018, which was followed by a government-sponsored framework of proposals in the year 2020. In addition, in Saudi Arabia, Open banking will be established by the beginning of 2022.

The above changes are likely to have a wide-ranging impact on the payments industry in the United Arab Emirates, specifically in Dubai. When asked what government- or regulatory-implemented decisions and actions would be successful and accurate in guiding customers toward digitized expenditure, twenty seven percent demanded regulatory clearance for open banking, following that 20 percent who offered consumers incentives to go to digital payments from cash. Furthermost commonly stated criteria were allowing operations to gather information regarding customers and implementing cash-free interactions between people and government.

Open banking or open financial data differs from the rest; it allows the digitization of payments and provides conditions where banks may face disintermediation by other participants. Around 75 percent of study and survey respondents predicted open banking would accelerate the multiplication of saving balances and capabilities to make payments as soon as possible. Customers will be able to switch to payment service providers who deliver a positive customer experience instead of depending on banks that offer inconvenient payment options in this circumstance.

Payments have been either constant (as with MDRs) or declining in recent years (remittance fees). However, a quarter of the payments practitioners polled predict reductions during the next 5 to 6 years. A charge reduction of up to 8% is expected by 38% of respondents, a fee reduction of 15 to 25% is expected by 13%, and a price reduction of more than 25% is expected by 17%.

MDRs vary in a number of fundamental points, from approximately 21 in Germany to almost 200 in Japan and Mexico. According to some calculations, a 20% decrease in the UAE’s MDR would reduce it to 130 basic points, roughly in the center of the global range. According to some estimates, a 20% reduction in the UAE’s MDR would bring it down to 130 basic points, about in the middle of the global range.

Payments are substantial over the border in the UAE, Saudi Arabia, and the Middle East, which house the world’s largest corridors. In 2020, they will handle $79 billion, which is 7% of the total GDP of both countries. Over the next five years, bilateral agreements between nations for actual expansion and adjustments of digitized cash-transfer operators, according to two-thirds of poll respondents (67 percent), will be major drivers in transactions for cross-borders.

The Expected occurrence of Consolidation

Most of the payment professionals polled expected some kind of industry merger in the coming years, for two-thirds of the participants, network acquisitions for acquirers of merchants. At the same time, 30% is projected specifically with value chain segments.

For the last decade, mergers and acquisitions have been a leading factor in payments internationally, and Dubai might be the following diving line for consolidation among regional players. Payment gateways are one potential area, as global firms want a market footing to pursue regional providers with basic solutions. These worldwide providers may also attempt to capitalize on development prospects in the UAE and utilize it as an initial milestone to Africa.

Convenience for banks

Even though banks dominated the sector, 65 percent of surveys anticipated that non-bank payment providers would triumph in the near future. In addition, respondents identified digitizing customer journeys as the essential method to stay current in the running market and stay applicable in a developing marketplace, with 83 percent seeing this as the most important way to stay relevant in an evolving market. Following closely behind, with 75 percent of respondents, is the desire to buy or invest. As the age of open banking approaches, institutions must develop a plan fast to avoid risk from being disintermediated. In other countries, banks have demonstrated that they can continue to succeed in an open-banking environment even while fintech and other competitors grow. Success will be determined by cultivating a creative mentality and talents beyond banking and developing successful relationships with fintech to tackle technology.

To capitalize on new possibilities in the increasing digital payments of the merchant sector, attackers and incumbent banks will be required to decide which merchant groups to focus on with unique offers. Further, they need to design a well-thought-out plan for reaching the targeted groups.

Opportunities for fintech and telecom companies

More possibilities for fintech, telecom firms, and other competitors to gain market share are launching as legislative reforms allow new participants to step into the payments sector. Whether through awarding licenses of payments services or open-banking rules, the region’s governments and regulators are turning to attackers to guide them to reach lofty digitalization objectives; Saudi Arabia’s goal of 70% digital payments by 2028 is a good example.

Launching trustworthy services and developing solutions to solve specific points with unique features and requirements will be the major difficulty. Large retailers, for example, may want solutions and guidelines to accept a diverse range of schemes and payment wallets from foreign tourists. Small businesses, on the other hand, may just require basic services to accept digital payments in-store. Further essentially, merchant demands revolve around going online and receiving assistance from complementary technologies to maintain and develop their firm. Thus, winning for whichever payments practitioners will rely on establishing the fair value offer, and customers may fit the needs of all target groups.

Final Thought

Finally, Players with pure payments must develop business examples that generate value beyond financial transactions alone. Payment entity regulations limit participants’ operations to activities related to payments, preventing them from profiting on services with profitable financial income streams, for example, lending. As a result, participants will be compelled to establish tactics and collaborations to produce more value.

Dubai & Ajman media freezone is on the verge of a revolution in payment methods. Its digitalization goals are lofty yet achievable. Payments made digitally will be essential as a new standard. The question now is who will win the race to bring customers there.

The post Digital Payments And Their Big Impact in Dubai appeared first on Business Incorporation and Business Setup in Ajman, UAE | Mamc.

Running a corporate consulting business from a foreign country can turn out to be an expensive decision. Being present physically in the office can be an advantage in times when quick decisions need to be taken.

There a few things that a person should consider if they are planning to run a business from outside the UAE.

Time in UAE

The first thing any foreign national needs to do is to choose the correct kind of Visa for them. Each type of Visa has a different requirement, like a person with a residential Visa must visit the UAE at least once every 6 months. Similarly, there are different requirements and time restrictions, UAE Visa holders need to abide by. Therefore, it is best to know which Visa best suits your needs. If a person finds this inconvenient, they can always apply for a change in status. There are other options that better suit the needs of different people. However, one thing is for sure, a person has to visit the UAE every few months to meet the shareholders, monitor the operations, and confer with the upper management.

Income Tax

Whether a business owner is liable to pay income tax or not depends on their country of residence. If a person spends more than 6 months in the UAE, they are consider a tax resident, and since the income tax rate is set at 0% in the UAE, they do not have to pay a single penny. However, some countries consider factors like the location of your main corporate consulting business, if you own any other assets or have international bank accounts if your family is traveling along too and more.

Thus, the zero tax rule does not apply to everyone, and neither do the rules of Freezone Ajman or any other UAE Freezone. Nonetheless, one concession that the UAE provides is protecting business owners from paying double the taxes. The UAE has double tax agreements (DTA) drawn up with 100 countries, to determine which country is entitle to tax an individual on their worldwide income.

Second in Command

It is important to appoint a trust individual as the company’s Director or CEO. However, if this person is to run the company in your absence, they need a power of attorney. However, this person should not receive too much authority. Thus, certain roles need to be put on paper.

In short, there is a lot that business owners need to see to when it comes to running a company, especially if they aren’t physically present there, so a few significant decisions need to be made in order to smoothly run operations, whether from Ajman Media City Freezone or their homeland.

The post Running A Business From Outside The UAE appeared first on Business Incorporation and Business Setup in Ajman, UAE | Mamc.

6-month multi-entry visa

Visas valid for 6 months are being issued to talented students, professionals, experts in the fields of science, researchers and investors (who are also eligible for long term visas), as part or the UAE permanent residency scheme. As per the permanent residency scheme, the visa holder can make multiple visits into the country to complete the procedures for residency. Out of these brilliant minds, some are awarded a Gold Card, which was recently introduced by Sheikh Mohammed bin Rashid. The UAE has already awarded around 7,000 permanent residency visas, and more applications are being considered. This scheme is valid for both freezone and mainland business owners. In fact, the first Gold Card in Ajman was also recently awarded to a businessman with a freezone company.

Long-term residence uae visa

The UAE offers multiple long-term residence visas. Each has a different . The eligibility we have stated below is just the front face, there are other smaller requirements. Also, it doesn’t matter if a person intends to work, study or live in a freezone like freezone Ajman, or the mainland, the requirements stay the same.

·        10-year visa without a sponsor

Investors with public investments of at least Dh10 million, a person with a specialised talent (scientists, inventors and executives), or doctors and specialists are eligible for this kind of visa.

·        5-year visa without a sponsor

Investors, entrepreneurs, and students who are outstanding in academics are eligible for this kind of visa.

Residence visa

Securing a residence visa is only possible for people who already have an employment visa. To get a residence visa, a person further requires the Emirates ID and a medical test needs to be done. After a person gets a UAE Resident Identify Card, only then are they considered a valid resident. Also, after that, they can sponsor their family to move to the UAE.

Employment visa

An employment visa or work permit, is issued by the Ministry of Human Resources and Emiratisation, and is valid for two months. This visa is for people who are searching for work, or are changing jobs.

Tourist visa

A tourist visa allows a person to stay in the UAE for 30 days. It is sponsored or arranged by the hotel they plan to stay at, travel agents, tour operators, or a UAE airline.

UAE visa

Getting a visit visa is only possible if a friend or relative, already residing in the UAE, sponsors you. The sponsor has to apply for the visa at a GDRFA office, which takes a few days for processing. Upon issuance, a copy of the visa needs to be sent to the visa holder, while the original needs to be submitted at the airport. The visit visa holder can collect the original upon arrival in the UAE.

Transit visa

Any person who has a connecting flight with a stopover of more than 8 hours in the UAE, can be issued transit visas, which are valid till 96 hours after arrival. Very soon, Dubai Airports will provide transit passengers a chance to experience the city, as part of the  Dubai 10X initiative.

Holding a valid visa is a requirement for any foreign national, regardless of where they are or plan to travel to in the country – mainland or freezone Ajman, Sharjah, Abu Dhabi or Dubai, the rules are the same everywhere. Anyone who enters into the country without a visa will be conducting a serious crime.

The post The UAE Visa Guide appeared first on Business Incorporation and Business Setup in Ajman, UAE | Mamc.

This time, the UAE government has launch a new electronic tax system to register excise goods. UAE plans to keep improving its taxation and filing system and through this move, it is safe to say that their current focus is excise tax procedures.

The Federal Tax Authority has declare that this new tax system offers accuracy and transparency in all procedures for registering excise goods with explicit guidelines and standards, along with new reporting requirements link to excise tax declarations and returns.

The launch of this new system is align with UAE’s vision for the future. As a part of the bigger picture, this move brings UAE one step closer to their aim of elevating their global competitiveness, by constantly improving government services.

Business Development In UAE And Tax System

All businesses dealing with excise goods are instruct to follow this new electronic tax system, by registering excise goods and providing the relevant documents at the time of registration.

The requirements that are highlight in the new guides are ingredients, product details, lab tests (in a few cases), marketing material (images, videos, etc.), and the product’s retail price, depending on where it will be sold.

The FTA has urge those affect by this law to comply with the tax return forms, new declarations and reporting requirements including produce, import, local purchase scenarios and release from the designate zones. Again, this would be cementing accuracy and transparency in all procedures.

Also, the relevant authorities have declare that the new guides and manuals will raise awareness amongst tax payers. Proper instructions will be provide on how to register excise goods. For example, the need for compliance has been establish, with the new forms and reporting requirements, that are set in place.

The FTA instruct businesses that are subject to this excise tax, to use the provid material like manuals in educating their staff on this new system and procedures. Since all of this material is available on the FTA website, there is no excuse for any business to not comply by this, regardless of their location, whether in freezone Ajman, Sharjah or Dubai.

Any person who is importing or producing a good for  sale in local markets is subject to an excise tax. A person who stockpiles excise goods or releases them from a designate area, are also subject to this law. The FTA assert on the importance of all firms to get their excise goods and products register, in accordance to the terms and conditions that were stipulate in the Cabinet decision. This specifies the tax rates, which the particular good would be subject to, and it outlines the method that is use in calculating excise prices.

The FTA state that there is no proper threshold for excise taxes and law. In other words, a business will have to not only register its excise goods into the new system, but will also have to calculate its own taxes.

This might sound like an unnecessary trouble for businesses, but in actuality recording all important info of businesses with excise goods is important in streamlining and improving the whole excise law system of the country.

The post UAE’s New Electronic Tax System And It’s Impact On Businesses appeared first on Business Incorporation and Business Setup in Ajman, UAE | Mamc.