Legal Framework & Tax
From The Report: Sharjah 2018
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This chapter contains an overview of the legal and tax frameworks in which local and international investors operate in Sharjah, including a rundown of the free zones exempted from caps on foreign ownership and a summary of the new UAE-wide value-added tax of 5%. This chapter contains a viewpoint from Eslam Farouk and Nehad Farouk, Co-founders, Al FaroukInternational Intellectual Property Rights Management.

Articles from this Chapter

Overview

By the book: A detailed outline of legislation concerning investment and business in the emirate and the UAE
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The UAE is made up of seven emirates – Abu Dhabi, Dubai, Sharjah, Ajman, Ras Al Khaimah, Fujairah and Umm Al Quwain – and adopts a federal system of government. The federation is governed by a constitution, which regulates the respective powers of the federal government as well as the local government of each emirate member; noting that the constitution is considered as the paramount law of the land, which all laws of each emirate must be based on, confirm or defer to. According to the…

Overview

Encouraging investment: A guide to the emirate’s tax rates
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The UAE’s taxation environment is one of the most lenient in the world, and as such it attracts investors to form and operate business in the country. Under the constitution, the federal government has jurisdiction to legislate in relation to the UAE’s taxation system, but no unified tax law has been enacted to date. Alternatively, the seven emirates may enact their own tax decrees. Corporate Under the Sharjah Tax Decree, taxable corporate entities operating trade or business are: companies…

Viewpoint

Eslam Farouk and Nehad Farouk, Co-founders, Al Farouk International Intellectual Property Rights Management
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Viewpoint:Eslam Farouk and Nehad Farouk As the third-largest emirate in the UAE, Sharjah continues to develop various areas of its economy, particularly in the field of commerce. In this context, safeguarding the intellectual property (IP) of businesses is indispensable as the country moves, through the growth of the non-oil sector, towards a more diversified economy. IP covers areas including industrial or commercial designs, patents, copyrights and trademarks. Trademarks are any visible…