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…
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.