United Arab Emirates

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General information: Website on etiquette for foreign relations in Emirates
Website on etiquette for foreign relations
Opening hours and days: - Administrations : 0730 hours to 1330 hours from Saturday to Wednesday and from 0730 hours to 1200 hours on Thursday.
- Banks : 0800 hours to 1300 hours from Saturday to Wednesday and 0800 hours to 1200 hours on Thursday. Stores : 1000 hours to 1300 hours and 1700 hours to 2200 hours from Saturday to Thursday and 1700 hours to 2200 hours on Sunday. The weekly holiday is Friday; the working week thus lasts from Saturday to Thursday.
- Oil companies are open from Saturday to Wednesday from 0730 hours to 1430 hours.
- Private companies are open from 0800 hours to 1300 hours, then from 1400 hours to 1900 hours from Saturday to Wednesday.

New Year	1st January
National Festival of thee Federation	2 December
The Emir's accession to the throne	6 August
Birth of the Prophet	March (Religous festivals have flexible dates as they are determined by the lunar calendar).
Ascension of the Prophet to heaven	July
Last day of Ramadan	Variable
Eid ul Fitr	Variable
Eid ul Adha	Variable
Islamic New Yearque	Variable

Holiday compensation: The holidays can be subjected to variations by virtue of presidential decrees.

Eid ul Fitr	3 days from end of Ramadan. This festival can shift.
Eid ul Adha	4 days, 60 days from the end of Ramadan and Eid el Fitr
The month of Ramadan	This is as it is a montn of vacation but you can expect you activity to be very slow during this month of fasting.
The month of August	This is the hottest month of the year and most of the people of Emirates and expatriates go on vacation at this time. In this period a slow down of activity should be expected.

Tax year: From 1st January to 31st December.
Accounting standards: The accounting rules are still not very developed but the government to trying for the convergence of national practices towards international standards. There is no Accounting code in Emirates.
Accounting regulation bodies: Ministry of Finance
Ministry of Economy
Accounting reports: Companies should provide to the Ministry of Finance (trading companies) or to the Ministry of Industry (industrial companies) an activity report audited by an auditor. This obligation is only meant for renewal of the company's licence. In fact, nobody checks the accounts.
Publication requirements: The companies listed on the stock exchange should submit their accounts to the "Emirates securities and commodities market authority" which imposes quarterly publication of balance sheets and income statements and an annual audited income statement.
Professional accountancy bodies: Professional Accountants Office
Deloitte
Professional Accountants Office
Accountants and Auditors Association
Certification and auditing: The State Audit Institution of United Arab Emirates.
Accounting news: Middle East Accounting News

Company tax: 0%
Tax rate for foreign companies: There is no difference between the residents and non-residents.
Capital gains taxation: None.
Main allowable deductions and tax credit: None
Other corporate taxes: None

Individuals are not taxed in UAE.	0%
There is however a property tax for the property owners.	between 2 and 15% of the property price based on the Emirate and the owner's profession.
Dubai emirate also imposes a rent tax.	5% of the annual rent for the lessors.
Municipalities also impose tax on services. It is deducted on the services of restaurants and hotels.	varies from Emirate to Emirate: 10% in Dubai; 16% in Abu Dhabi.

Countries with whom a double taxation treaty have been signed: Annexure of countries which have signed a double-taxation treaty with the Emirates (page 14).
Whithholding taxes: No taxes are imposed by the federal government of the United Arab Emirates.

National organizations: In 1992, Emirates has passed three laws for intellecual protection : one law on copyrights, another on trademarks and the last one on patents. It has been envisaged to provide them with a legal framework in conformity with the requirements of the TRIPS (Trade Related Intellectual Property Rights) agreements within three years.
Regional organizations: None
International membership: Member of the WIPO

Type of property and law	Validity	International agreements signed
Patent Federal Law no.17	20 years
Trademark Federal Law no.37	10 years	Nice agreement
Design Federal Law no.17	10 years
Copyright Federal Law no.7	- 50 years after the death of the author - 25 years for art works - 20 years radio and television programs
Industrial Models Federal Law no. 17	10 years

Independence of justice: The judicial system is not independent.
Equal treatment of nationals and foreigners: The judicial system of the country does not guarantee impartial justice to foreign nationals.
The language of justice: Classical Arabic is official language of the courts. Gulf Arabic and English can be used in all the federal courts. In local courts, only Arabic is used.
Recourse to an interpreter: Recourse to an interpreter is possible.
Sources of the law and legal similarities: The two main sources of law are the Sharia which effects the personal status, criminal cases and civil law for other cases. In some Emirates commercial disputes can be judged by Sharia courts.
Checking national laws online: National legal portal, only in Arabic
Website for information on the Emirates judicial system.

National standards organizations: Website of the Emirates Authority for Standardisation and Metrology (ESMA).
Integration in the international standards network: Emirates have integrated in the international standardisation system since'ESMA becoming member of the Organisation ISO and the International Communication Union. Moreover, regionally there is an attempt for harmonisation of the requirements related to standards in the framework of the Customs Union between member countries of the Gulf Council.
Classification of standards: UAE + S+ GSO and after either a digit code corresponding to the area or a letter code and figures then the year. Internally, the code is composed of 2 digits corresponding to the product section, then a number composed of 2 to 3 digits based on the degree of detail.
Online consultation of standards: The norms and standards are available on the website 'ESMA. This is a paid service and technical guides should be ordered.
Certification organizations: ESMA

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