Market Entry Guide United Arab Emirates (UAE).
- Modes of Setting up a Business in the UAE
- Procedures for Immigration to the UAE
- Social Security System in the UAE
- Free Trade Zones (FTZs) in the UAE
- Opening a Bank Account in the UAE
- Recruitment of Local Staff
Appendix I: Useful Links and Addresses
Appendix II: Embassies
- Modes of Setting up a Business in the UAE
- Procedures for Immigration to the UAE
- Social Security System in the UAE
- Free Trade Zones (FTZs) in the UAE
- Opening a Bank Account in the UAE
- Recruitment of Local Staff
Appendix I: Useful Links and Addresses
Appendix II: Embassies
The United Arab Emirates (UAE) is a federation of seven emirates that was formed on 2 December 1971. The UAE government has successfully managed to create a business environment that is conducive to economic growth. This has helped promote the UAE as an international centre for trade, finance and services, attracting reputable global companies.
According to data from the National Bureau of Statistical data of the UAE, the total GDP (at fixed prices) amounted to EUR (200.84 billion) AED 977.32 billion in 2010, registering a growth of 1.4 percent. The country’s GDP for 2009 was EUR 198.01 billion) AED 963.53 million, where the currency shrunk by 1.6 percent. The percentage contribution of non-oil sectors has decreased to about 68 percent in 2010 as compared with 71 percent in 2009. On the other hand, the percentage contribution of the oil sector in the total GDP increased from about 29 percent in 2009 to 32 percent in 2010, led by the hike of oil revenue as a result of increase of crude oil prices1. It is to be noted that UAE now uses 2007 as its base year.
The UAE's currency, the dirham, is secure and freely convertible. There are no restrictions on profit transfer or capital repatriation in the country. Import duties are low (around 5 percent for most of the goods) and, in the case of items imported for use in the free zones, non-existent in the country. Further, the UAE does not levy corporate tax or personal taxes and the country has signed 58 double-taxation avoidance agreements and 32 bilateral investment treaties as of 2011. In addition, the financial risk for the investments is minimal in the UAE (Moody's credit rating Aa2). These factors, combined with a strategic and accessible location for major regional markets, an excellent, reliable infrastructure and an extremely stable and safe working environment, make the UAE an ideal country for investments. The UAE ranks high in the list of the Middle Eastern and GCC (Gulf Cooperation Council) countries and is deemed to be the most attractive to direct foreign investments (FDI), securing FDI inflows worth EUR 2.90 billion (USD 4 billion) during 20102.
Various efforts that are being made to foster an enabling regulatory environment include the following:
Amendments to the Company Law are currently being made in order to streamline procedures.
The Federal Commercial Law that requires a 51 percent3 local partner for businesses located outside free zones is under review.
The Ministry of Economy is in the final stages of drafting a competition law that should provide further assistance in combating cartels.
The government is working on introducing a foreign investment law that will further increase private sector competition and lower inflation.
The Federal Law No. 24 on consumer protection was passed in 20064.
Several rent ceiling initiatives were issued at the emirates level to deal with rent increases.
The UAE has been a contracting party to the General Agreement on Tariffs and Trade (GATT) since 1994 and a member of the World Trade Organisation (WTO) since 1996. It is also a member of the Greater Arab Free-Trade Area (GAFTA) in which all GCC states participate. The UAE is in the process of negotiating free trade agreements with the US, Japan and India and has embarked on negotiations, either individually or with the GCC, on several regional trade agreements.
The following report aims to discuss the most important issues pertaining to the administrative, legal and financial aspects of setting up businesses and hiring personnel, as well as the living conditions, in the UAE.
2 Modes of Setting up a Business in the UAE
The UAE offers an investment environment that is among the most liberal and attractive in the Gulf region. Economic activities in the country are regulated by the federal government as well as by individual emirates. All business activities are primarily covered by three categories of licences:
- Commercial licence covering all kinds of trading activities
- Professional licence covering professional services, other services, craftsmen and artisans
- Industrial licence to establish an industrial or manufacturing activity
This section elaborates on the common investment vehicles available to foreign investors, the procedures to be followed in order to establish them and the related regulations for each investment mode.
Table 1 lists the most common modes of setting up businesses by foreign investors and the related legal particularities involved in the process, as laid down in Article 5 of the Companies’ Law of the UAE.
Table 1: Different Modes of Setting up a Business in the UAE
|MODES OF SETING UP A BUSINESS||PARTICULARS|
|Partnership in Commendam and Share Partnership Company||
|Joint Venture (JV)||
|Public and Private Joint-Stock Companies||
|Limited Liability Companies||
2.1 Average Time (in days) Required for Setting up a Business
In order to start a business, the legal and bureaucratic hurdles that companies/entrepreneurs must overcome need to be identified. Registration is highly important to access a range of market infrastructure, including finance, physical infrastructure (electricity, water) and contract enforcement. The greater the number of procedures, the wider is the scope for enforcing them in uneven ways.
According to a World Bank report, the average time taken to start a business in the UAE is high in comparison to that in Jordan, Oman and Iran. Figure 1 illustrates the obstacles inherent in starting business ventures in various countries.
Figure 1 illustrates the obstacles inherent in starting business ventures in various countries.
Figure 1: Obstacles in Starting Businesses in Various Countries
Source: The World Bank Group - Document: Doing Business 2011
3 Procedures for Immigration to the UAE
The UAE has simple steps and procedures for immigration. Citizens of 37 countries (i.e. GCC nationals and nationals of listed countries) do not require visas prior to arrival at a UAE airport. A person coming to work in the UAE requires a visa that can only be obtained on the person’s behalf by the employer or sponsor.
The kind of visa required for entry into the UAE depends on several factors such as nationality, the purpose of the planned visit and its expected duration.
The following categories of visitors may receive their visit visa at the airport, upon arrival
- AGCC (Arab Gulf Countries Council) residents who are not GCC nationals but who have a high professional status such as company managers, business people, auditors, accountants, doctors, engineers, pharmacists, or employees working in the public sector, their families, drivers and personal staff sponsored by them, are eligible for a non-renewable 30-day visa upon arrival at the approved ports of entry.
- National citizens of the following countries:
the UK (with the right of abode in the UK), France, Italy, Germany, the Netherlands, Belgium, Luxembourg, Switzerland, Austria, Sweden, Norway, Denmark, Portugal, Ireland, Greece, Finland, Spain, Monaco, Vatican City, Iceland, Andorra, San Marino, Liechtenstein, the United States, Australia, New Zealand, Japan, Brunei, Singapore, Malaysia, South Korea and holders of Hong Kong SAR passports are granted a free of charge visa for a single visit upon arrival in the UAE. It should be noted that this list is subject to change and it is therefore best to check with the local UAE embassy or the airline that will be used to fly to the UAE.
- A person who does not fall into one of the previous categories requires a visa and a sponsor or an employer for the visit. The employer or sponsor normally applies for the visa on the person’s behalf.
Valid sponsors may be:
Hotels and Tourist Companies - can apply for a tourist visa (valid for 30 days); a service visa (valid for 14 days); or a Visit Visa (valid for 30 days and extendable to up to 60 days )
Airlines and Airlines Handlers - can apply for a 96-hour transit visa on behalf of their crew members.
Other Organizations based in the UAE - may only apply for visit visas and service visas.
Individuals (relatives or friends) already resident in the UAE - can apply, subject to guidelines, for a visit visa.
3.1 Visa Requirements
UAE issues several visa types depending on the applicant type, duration and the purpose of the visit.
Table 2 lists the different types of visas issued by the UAE government.
Table 2: Visas Issued by the UAE Government
|TYPE OF VISA||APPLICANTS||VISA SPONSOR||DURATION||FEES|
|Visit Visa||Tourists on family visits and on long-term business visits who wish to spend more than 14 days in the UAE||Must be self-financed or sponsored by any company or hotel licensed to operate in the UAE||Valid for 60 days and renewable for a total stay of up to 90 days||EUR 20 (AED 100), with an additional EUR 2.0 (AED 10) for delivery; a fee of EUR 100 (AED 500) charged for renewal|
|Tourist Visa||Tourists from Eastern and Western Europe, who are not entitled to a visa issued on arrival, and visitors from Thailand, South Africa and UAE||Must be sponsored by hotels and tour operators||Valid for a 30-day stay, non-renewable||EUR 20.0 (AED 100), with an additional EUR 2.0 (AED 10) for delivery|
|Entry Service Permit or 14-day Stay||Businessmen and tourists||Must be sponsored by a company or a commercial establishment or a hotel licensed to operate within the UAE||Valid for 14 days from the date of issue, exclusive of arrival and departure days, non-renewable||EUR 24.0 (AED 120) with an additional EUR 2.0 (AED 10) for delivery|
|Transit Visa||Individuals flying to or from Europe/the US from or to Asia/Africa as well as individuals passing through UAE airports||Must be sponsored by an airline operating in the UAE and should have a valid ticket for onward journey||Valid for 96 hours||Travel documents stamped with an entry seal; no charge for this visa|
|Multiple Entry Visa||Business visitors who are frequent visitors to the UAE and who have a relationship with a reputable company in the UAE||Visitor to enter the UAE on a visit visa and obtain the multiple entry visa while in the country||Valid for six months from the date of issue; each visit not to exceed 30 days in total.||EUR 199.9 (AED 1000)|
3.1.1 Documents Required for Visa Applications
Foreign nationals applying for a UAE visa must have the following documents:
Two recent passport-size photographs
Duplicate application form
Letter or fax from the sponsor in the UAE to the concerned embassy
Letter from the applicant’s company and a copy of it
3.2 Key Points for Work Permits5
An employer pays a fee of EUR 40 (AED 200) for each employee brought to the country and EUR 199.9 (AED 1000) for each approved employee.
An establishment can change the work permit during the validity period (the first issue) only once, provided that the permit is changed for someone of the same sex, nationality and occupation approved by the Ministry. It is allowed to interchange any person with an approved nationality with an Arab nationality, but not a person with an Arab nationality
with another nationality.
No fees are collected for the work permit change application.
The first permit can be renewed for one month after a period of 60 days following the issue date. If the permit has not been changed during this period, it is considered cancelled (fees are not retrieved) and an application for a new permit has to be filed. All decided fees—EUR 40 (AED 200) for work permit application and EUR 199.9 (AED 1000) to approve and issue the work permit and work contract—are collected.
Under the new work permit rules effective 1 January, 2011, a worker with an expired contract in the UAE can now obtain a new work permit and shift to another employer without seeking his sponsor's consent. The parties must fulfill two conditions:
- The two contracting parties must have ended their work relationship cordially – The worker should have worked with his employer for at least two years
- the duration of the newly introduced labour card
If an employer delivers the work permit cancellation application and does not complete activities of approval, the permit is cancelled without fees; however, a fine of EUR 199.9 (AED 1000) is deducted from the establishment balance.
The authority of confirming the change is performed by labour offices directors and labour licences directors without referring to the permit committee, provided that the rules and regulations for work permit change are adhered to.
A licence partner cannot change the system since a licence partner is a possessor of the establishment and not an employee in the establishment.
The change is only approved after confirming that the approving fees of EUR 199.9 (AED 1000) were paid for the first permit that needed to be changed.
3.2.1 Requirements for Eligible Applicants
The applicant should be over 18 and under 60 years of age.
Depending on employer needs, the age limit can be extended to 65 years, but only with the approval of the Minister of Labour.
The applicant should hold a professional degree or the relevant skill sets required in the UAE labour market.
The work permit will be cancelled in case of diseases such as AIDS or TB (Tuberculosis).
The applicant must hold a valid passport for at least six months.
3.2.2 Documents and Fees
Individual Work Permit Application from outside the UAE
The following documents are required in case of applying for a work permit from outside the UAE:
‘Work permit application’ (outside the state) form.
A copy of the passport.
A copy of the scientific qualification attested by the embassy of the UAE in the country in which the scientific certificate was issued and also by the UAE Ministry of Foreign Affairs is to be submitted. (However, no licences are required for simple jobs in the contracting and general maintenance sectors, or for fishermen and drivers.).
A copy of the driving licence is to be enclosed when applying for a driving job.
A letter issued by the Ministry of Health and the relevant scientific certificates are to be enclosed when applying for the post of a doctor, pharmacist, nurse or other technical medical occupations.
A letter from the Ministry of Education is to be enclosed when applying to the position of a teacher in private schools.
In the case of industry licences, an industrial production certificate issued by the Ministry of Finance and Industry is to be enclosed.
A copy of the signatures confirmation card from the Ministry of Labour and Management of Nationality and Residency.
A copy of the effective licence.
A fee of EUR 239.9 (AED 1200), which includes issuing the work permit, work card and work contract, is to be paid by the employer for the work permit.
A fee of EUR 40 (AED 200) is to be paid by the employer through electronic dirham when applying for an external work permit.
A fee of EUR 199.9 (AED 1000) is to be paid by the employer through electronic dirham when approving the work permit application (including the work card fees and the work
contract for three years)
Work validity for 60 days from the date of issue by the Ministry of Labour; can be renewed for a month after a period of two months.
Group Work Permit Application from outside the UAE
The following documents are required:
A Primary letter of application to obtain the permission for the group work (authorised by the ministry’s undersecretary).
A ‘Group Work Permits Application’ form.
A copy of an effective licence.
The signature confirmation card.
The contracts and projects record with the subcontracts attested by the Ministry of Labour.
A total of EUR 239.9 (AED 1200) is charged as follows: EUR 40 (AED 200) when applying for the permit, EUR 199.9 (AED 1000) for each employee after the approval from the employer.
The group work permit is not renewable and is valid for six months from the date of the approval.
New Work Card and Work Contract of the Work Permit Application outside the UAE
The following documents are required:
A ‘New Work Card’ form.
Three copies of the work contract.
A copy of the entrance permission.
A copy of the passport.
A copy of a 3-month effective medical examination approved by the Ministry of Health or Preventive Medicine Department.
A copy of the signing dependence.
A copy of the effective commercial permit.
A self-addressed envelope for the post office.
No fees are collected at this stage; they would have been collected previously with the work permit issuance fees.
If the date of the work permit issue, printed on the new work card, differs from the one recorded in the ministry database, the ministry computer will automatically refuse the transaction, without involving any authorised employee.
3.3 Real Estate/Freehold Property
Most expatriates living in the UAE normally rent the apartment, flat or villa they live in.
3.3.1 The Definition of Freehold
The UAE currently does not have a federal law defining freehold. The freehold property law is applicable in one emirate, Dubai while it is under development in the other emirates. The law means that the property purchased by a foreigner is put in his/her name for life, which allows him/her to register the property with the Lands Department. The owner then has full rights to the property, including the right to sell, lease or rent the property at his/her own discretion. However, the property rights to foreigners are available subject to a few restrictions. The foreigners who own property in Dubai, Ajman, or Ras Al Khaimah are eligible to apply for a UAE residence visa valid for three years.
3.3.2 Freehold Property in Dubai
Dubai has worked towards the promotion of real estate development. The major property boom in Dubai occurred in May 2002, when Dubai's crown prince, General Sheikh Mohammed bin Rashid Al Maktoom, issued a decree to allow foreign nationals to buy and own freehold property in selected areas of the city, now referred to as New Dubai. The same month also witnessed the announcement of Nakheel's man-made island, The Palm Jumeirah, which was followed a year later by the second man-made palm-shaped island, The Palm Jebel Ali. All previously developed leasehold property was automatically transferred to freehold.
After the initial property boom, various new developers joined the market. Freehold properties in Dubai are currently majorly limited to areas on Jebel Ali, the Palm Island projects, The World islands, Dubai Marina, Emirates Hills and Al Barsha.
Dubai Freehold Property Law
On 14 March 2006, the Dubai government issued a law legalising foreign ownership of properties in designated areas of Dubai. However, the law does not give property owners permanent residence visas or an automatic right to work in Dubai.
3.3.3 Freehold Property in Rest of the UAE
Once Dubai began offering freehold properties to citizens of other countries, other emirates followed suit. The following are the various projects and property developments in the emirates:
Ras Al Khaimah
Ras Al Khaimah was the first emirate to emulate Dubai, with its 1,300 residential unit development named Al Hamra Village. The second freehold development for Ras Al Khaimah, spread across 50 acres of beachfront land of a five-star resort facility, is The Cove. Another popular RAK property is the 1-million square metre tourist development, Saraya Islands.
Ras Al Khaimah's government has set up its own public joint stock property development company, RAK Properties, which received freehold rights for all its properties from the city's ruler in November 2005. RAK Properties has developed a wide range of projects in the city, which includes Julfar Towers, Mina Al Arab, Mangrove Island and Khor Qurum.
Ajman was the second emirate to follow, with the announcement of its 15 freehold residential apartment buildings named Al Naeemiya Towers. The same company that developed the Al Naeemiya Towers has continued developing its portfolio of Ajman properties with Al Khor Towers, Al Rashidiya Towers and the Al Corniche Tower. Tameer Real Estate announced completion of an EUR 246.60 (AED-1.2-billion) freehold residential and commercial project in Ajman, named Al Ameera Village, which is built on the Emirates Ring Road.
Sharjah has also started offering property for foreign ownership, although the majority of property is presently held by lease. Some of its upcoming towers include ABBCO Tower, Sharjah Gate, the 32-storey Al Taawun Tower, and the 47-storey Al Sandos Tower. Tameer also plans to develop various towers throughout Sharjah, and Al-Hanoo has developed the 60-million square foot Nujoom Islands.
Umm Al Quwain
Tameer has developed the Emirates Modern Industrial Area that to primarily serve the manufacturing industry, which is built near the famous UAQ Aviation Club. Tameer has also developed the EUR 6 billion (AED 30 billion) Al Salam City, situated along the Emirates Road in Umm Al Quwain. Umm Al Quwain's property ownership law states that non-GCC nationals can own property but not the land.
Fujairah's efforts to enter into the freehold market have been limited to the construction of the 43-storey, 170-metre Al Jabar Tower, which will contain 270 residential apartments, commercial shops and showrooms and is being developed by Al Jabel Contracting.
Abu Dhabi's property law came into effect on 14 August 2005, when the emirates' government announced a 99-year land ownership and a renewable 50-year surface ownership to foreign nationals in specified areas in Abu Dhabi. Properties by Aldar Properties and the Al Reef Villas project by Manazel and Hydra Properties have permitted foreign ownership according to the new property law.
3.4 Renting Property
The renting of property is the dominant activity in the property market of the UAE.
3.4.1 Rental Requirements
In order to rent property in the UAE, the rent for the entire year of tenancy is normally paid either in cash or by cheque. If the payment is made by cheque, most landlords will limit it to two to four cheque payments. In addition to the tenancy payment, if the property has been rented through an agency, a 5 percent6 commission will have to be paid to them. Most premises will require the payment of a refundable security deposit equal to 5 percent of the annual rent. As utility bills are paid by a tenant, it is normally required that a refundable deposit ranging from EUR 199.9 to 399.9 (AED 1000 to 2000) be paid to the landlord for the use of water, electricity and gas. Some premises also require the payment of a 10 percent municipal tax7 (Sharjah has a 5 percent municipal tax).
3.4.2 Rental Laws
Tenancy contracts in the UAE normally last for two years, with the exception of Sharjah, where it is normally for three years. Within that period, landlords are not permitted to increase the rent until it requires renewal. At the time of renewal, a landlord is not permitted to increase the rent by more than that stated in accordance to the rental index set by the Real Estate Regulatory Agency (RERA)8. If a dispute between a tenant and landlord occurs on the rent increase, the matter should be settled by the Municipality's Rent Control Committee. Filing a case with the Rent Control Committee will cost EUR 80.0 or 100.0 (AED 400 or 500)9 and it will normally take a few weeks or months before the two parties are summoned to appear before the committee. If the case is won by the plaintiff, the fee paid to file a case will be paid by the landlord.
3.4.3 Landlord Obligations
Landlords are normally obligated to take charge of the annual maintenance of their property and they are not permitted to evict a tenant without just cause within the tenancy contract time period.
3.5 Average Rent for Off ice Space in Dubai and Abu Dhabi
Office rental rates in the UAE have grown significantly over the past few years, mainly driven by the demand from the high influx of multinational companies setting up operations and the growth of existing businesses. The following are the trends in average office rental expenses in Dubai and Abu Dhabi:
Dubai is less expensive than London, Hong Kong, New York and Tokyo, where average office space prices are more than three times the prices in the UAE. Rental rates (per annum) in Dubai have tripled and, on average, have risen to a whopping EUR 1,183.6 (AED 5,920) per square metre in fourth quarter of 2008 from EUR 914.7 (AED 4,575) per square metre in fourth quarter of 200710 . According to Asteco’s rental research, rents on Sheikh Zayed Road have escalated to EUR 70–75 (AED 350–375) per square foot as compared to EUR 44– 48 (AED 220–240). The prices at Bur Dubai and Karama are at EUR 52.2 and EUR 56 and 53 (AED 280 and AED 265) per square foot, which have shown a 24 percent and 51 percent increase over Q3 of 2006, respectively. Office rents are expected to stabilise in the long term with the completion of projected commercial units.
According to CB Richards Ellis, commercial space in Abu Dhabi is in high demand, with occupancy rates at a saturation level of 100 percent, creating additional pressure on supply and rental levels. The supply shortage has narrowed the rental bands among the prime-, mid- and low-quality office market divisions. Rents on older buildings are on a relative decline, while overall office rents in the CBD area range EUR 449.8 to EUR 499.8 (from AED 2250 to AED 2500) per square meter. The lease for office rentals is generally three years with a three-month deposit. Annual rent is generally paid in advance with service charges of 10-15 percent of the annual rent. However, certain areas of Abu Dhabi, particularly prime areas, have already surpassed the upper threshold with increases observed to be more than 50 percent, and in some cases, doubling year over year, as shown in Table 3.
Table 3: Comparative Prime Off ice Rental Levels (Per Annum) in Selected Areas of Abu Dhabi
|lOCATION||Q2 2006 EUR (AED)||Q2 2007 EUR (AED)|
|Al Bateen||223.7–279.6 (1200–1500)||298.2–465.9 (1600–2500)|
|Al Markaziyah||242.3–307.5 (1300–1650 )||316.8–465.9 (1700–2500)|
|Al Mushrif||223.7–260.9 (1200–1400)||37.3–55.9 (200-300)|
|Corniche West||223.7–279.6 (1200–1500)||639.78 (3200)|
Source: Trade Arabia-Abu Dhabi
A further rise in the demand for office space is expected with the implementation of diversification strategies, which will broaden the opportunities in different sectors.
3.6 Average Living Costs for Expatriates
For a person living in the same manner as an average western expatriate, the overall cost of living in the UAE will be similar to that in most European countries. The no-taxation policy of the government has a significant impact on the cost of certain items, e.g. cars and electronic products. On the other hand, the cost of accommodation is generally high, as is that of certain food items, particularly imported foods. Internationally recognised branded foods and household goods might be costlier than in the home country; however, there are plenty of cheaper locally and regionally produced alternatives that are of excellent quality.
Table 4 shows the average monthly major expenses for a single person, couple and family with two children. (Numbers in brackets relate to the notes following Table 4).
Table 4: Average Monthly Major Expenses for a Single Person, Couple and Family with Two Children
|MONTHLY COSTS (EUR/AED)|
- These are the rental costs for a one-bedroom apartment in a modern block, probably unfurnished, a two-bedroom apartment in a similar block and a two or three-bedroom apartment or a modest villa. Apartments might have air-conditioning included in the rent. Satellite television is probably provided but is unlikely to include all channels. A swimming pool and/or gym are usually provided.
- This does not include luxury food items or alcohol.
- These rates include electricity (and air-conditioning), water (and usually sewage if charged in conjunction with the water) and an allowance for telephone charges.
- This includes entertainment, dining out, sports, newspapers and magazines but not holidays (air fares are often included in work contract terms).
- These rates include running costs for an average family car and third-party insurance, petrol, servicing and repairs, but exclude depreciation and credit purchase costs.
- This includes private healthcare, travel, car and contents insurance. Note that property is rented, therefore, building insurance is usually unnecessary.
- Excessive clothing is unnecessary as a result of the region’s hot climate. Office wear for men comprises a shirt and tie, except on formal occasions.
4 Social Security System in the UAE
Small populations and high GDP rates allow the UAE government to fund the welfare of its people without needing to impose many financial obligations on them. For example, Dubai does not have obligatory state or employer-contribution insurance schemes. UAE nationals working for private companies are entitled to the same social security and pension benefits as UAE nationals working for the government. The government hopes to attract more nationals to non-governmental jobs by providing benefits in the private sector to speed up the emiratisation of the workforce. Under the national pension and social security scheme, which came into effect in the public sector in May 1999, nationals who have contributed to the scheme will be eligible for retirement and disability benefits; compensation on the death of these nationals will be granted to their dependents. Current end-of-service entitlements for government employees have been transferred to the new programme.
The General Authority for Pensions and Social Security (GAPSS), which is an independent entity that invests employer and employee contributions to fund the social security programme, was set up to operate the scheme. The government allocated the required capital of EUR 100 million (AED 500 million) in the 1998 budget for the establishment of the authority, which commenced functioning as an investment body from 15 December 1998.
Nationals are automatically provided with extensive help from the state, including medical care, sickness and maternity coverage, child care, pensions, unemployment benefits and, in some instances, housing and disability benefits.
Foreign workers have access to medical facilities. In fact, Dubai is pressurising companies to provide medical insurance for their employees to ease expatriate pressure on state healthcare programmes; private medical insurance is recommended for most foreign nationals.
There are no state pension schemes in Dubai for foreign expatriates, although certain state institutions and some international companies have corporate pension schemes. Expatriates can take advantage of their high disposable income in Dubai to avail themselves of a personal pension plan. There are many companies offering a variety of schemes, either based on lump sums or supported by regular savings.
5 Free Trade Zones (FTZs) in the UAE
5.1 Introduction – FTZs
The UAE has enjoyed substantial economic benefits and significant industrial growth as a result of its flourishing FTZs. Financial incentives to establish manufacturing industries in the UAE are primarily focussed on exemption from all taxes and duties levied on profits or production, with the exception of licensing fees. Further, there are no restrictions on profit transfer or capital repatriation. Customs duty may also be exempted for qualifying projects established in special industrial zones. In addition, nationally produced products are accorded a 10 percent price advantage in government purchases over imported goods.
Different types of companies that can be established include the following:
Free Zone Company (FZCO/FZC)
Free Zone Establishment (FZE)
Free Zone Branch
Different types of licences that can be issued include the following:
National Industrial Licence
It is possible for companies or their branches engaging in a trade or business in the UAE to enter into an agreement with the ruler of a particular emirate whereby it will be exempt from any liability to taxation on its income.
5.2 List of FTZs
Table 5 provides the names, purpose, financial incentives and official websites of major FTZs in the UAE.
|The Abu Dhabi Free Zone||www.hcsez.ae||Facilities for warehousing, precious metals and food||
|The Sharjah Free Zone||www.saif-zone.com||
|Hamriyah Free- Zone||www.hamriyahfz.com||Considered as one of the most advanced free zones in the Middle East providing attractive concessions and investment incentives to foreign investors, including excellent manufacturing and commercial facilities||
|THE DUBAI FREE ZONE|
|Jebel Ali Free Zone (JAFZ)||www.jafza.co.ae||100 percent foreign ownership; company formation period is 5-20 days subject to availability of facility requested and submission of necessary legal documents||
|Dubai Airport Free Zone (DAFZ)||www.dafza.gov.ae||Offers similar incentives as JAFZ, particularly in view of proximity to the Dubai airport.||
|Dubai Technology E- Commerce and Media Free Zone||www.dubaimediacity.com||Manufacturing and commercial facilities with attractive concessions and investment incentives to foreign investors||
|Dubai Cars and Automotive Zone||www.ducamz.co.ae||Facilities for the re-export of automotive vehicles to the African, Asian and Middle Eastern markets||
|Dubai Gold and Diamond Park||www.goldanddiamondpark.com||Not Available||
Source: UAE Interact - Business Centre - Free Zones
5.3 Procedures for Starting a Company in a FTZ
The Free Zone Authority assesses a company’s requirements and their feasibility for starting a company in a FTZ through a questionnaire. Licence application, a list of invoice required for planning, consumer request for electricity and Form B for environmental concerns, if applicable, are provided after submitting the questionnaire. Finally, a duly filled in licence application is to be submitted.
Provisional approval is given along with a specimen lease agreement; personnel documents for the licence requirement are submitted. After the meeting of the company representative and the concerned authority to finalise the details of the project, actual documents are processed.
6 Opening a Bank Account in the UAE
6.1 Overview of Retail Banking11
The aggregated balance sheet of banks operating in the UAE grew by 5.7 percent to reach EUR 329.95 billion (AED 1605.6 billion) at the end of 2010, against EUR 312.15 billion (AED 1519 billion) at the end of 2009.
By the end of 2010, total deposits with banks operating in the UAE amounted to EUR 215.7 billion (AED 1,049.6 billion), from EUR 201.9 billion (AED 982.6 billion) in 2009.
Foreign assets of banks reached EUR 47.98 billion (AED 233.5 billion) at the end of 2010, increasing by 12.2 percent from EUR 42.79 billion (AED 208.2 billion) in 2009.
Capital & Reserves of banks operating in the UAE increased by EUR 5.06 billion (AED 24.6 billion), from EUR 47.55 billion (AED 231.4 billion) at the end of 2009 to EUR 52.61 billion (AED 256 billion) at the end of 2010.11
6.2 Procedures for Opening an Account
Opening a bank account in the UAE is a straightforward process, although requirements vary from bank to bank. Only residents can open a current/checking account. However, some banks allow non-UAE residents to open savings accounts.
Foreign nationals need to provide the following documents to open a bank account in the UAE:
A valid passport (original and copy)
A valid residence visa
An official identification, such as a labour card or driver’s licence
A salary certificate from the employer
A letter of no-objection from the employer/sponsor
Some banks set a minimum account/balance limit.
6.2.1 Salary Transfer Account
The requirement to open a salary transfer account is a noobjection letter from the employer addressed to the respective branch.
Dependents on a husband’s or father’s visa who want to open accounts need their original passports to verify the sponsorship.
Banks also offer accounts to new entrants whose residence permits are under processing, provided they submit either a letter from the employer certifying their employment or a letter of introduction or verification from a bank which the applicant has an account with in his/her home country.
6.2.2 Phone and Internet Banking
Due to security reasons, some banks require a branch visit for even minor changes to account details. Other banks, however, offer phone and Internet banking.
The degree of functions of a phone or Internet banking plan differs from bank to bank. Some banks only allow for bill payment and fund transfer to its different branches or other local banks online or over the phone.
6.2.3 Foreign Currency in the UAE12
Most major banks offer customers the option to open accounts in major currencies such as USD, GBP and EUR.
Most UAE banks accept cheques in major currencies, charging rates starting at EUR 20 (AED100) and can take 30–45 days for clearance.
6.3 Major Banks13
The UAE has 28 foreign banks from several countries and 23 local banks. Foreign and local banks have established 111 and 754 branches respectively in the UAE, by the end of March 2009.
Table 6 lists the major banks in the UAE and their total number in terms of each bank type.
Table 6: Major Banks in the UAE
|BANK TYPE||NUMBER OF BANKS||NAMES OF MAJOR BANKS|
|Local Banks||23||National Bank of Abu Dhabi
Abu Dhabi Commercial Bank
Union National Bank
Commercial Bank of Dubai
Dubai Islamic Bank PJSC
Emirates Bank International
Emirates Islamic Bank
Mashreq Bank PSC
Sharjah Islamic Bank
Bank of Sharjah PSC
United Arab Bank PJSC
Invest Bank PLC
National Bank of R.A.K.
Commercial Bank International
National Bank of Fujairah PSC
National Bank of U.A.Q.
First Gulf Bank
Abu Dhabi Islamic Bank
Noor Islamic Bank
Al Hilal Bank
|Foreign Banks (Locally Incorporated)||28||National Bank of Bahrain
Arab Bank PLC
Banque Du Caire
El Nilein Bank
National Bank of Oman
Bank of Baroda
HSBC Bank Middle East
Arab African International Bank
BLC Bank (France) S.A.
Al Ahli Bank of Kuwait
Barclays Bank PLC
Habib Bank Limited
Habib Bank AG Zurich
Standard Chartered Bank
Bank Saderat Iran
Bank Meli Iran
Blom Bank France
Lloyd Bank TSB
United Bank Limited
Samba Financial Bank
National Bank of Kuwait
|Restricted Licence Bank||1||Banca Commercial Italiana|
7 Recruitment of Local Staff
There are a large number of employment agencies, recruitment agencies, consultants and job agencies in the UAE, which have been growing rapidly. According to the UAE Ministry of Labour, recruitment agencies are not allowed to charge fees for sign up and/or visas and/or to be placed in jobs. There are employment agencies (usually online) in Dubai that operate from another country and so could claim to be able to legitimately charge a fee. Employment agencies normally charge fees from the employer and not the employee.
Some recruitment consultants in the UAE provide assistance with writing curriculum vitaes and application letters, and/or they may offer consulting services and psychometric evaluations to assist in choosing suitable careers and jobs.
A few of the larger and more well-known job search firms operating in Dubai include BAC Middle East, Clarendon Parker, IQ Selection, Kershaw Leonard and SOS Recruitment.
There are various recruitment channels available in the UAE. These include campus recruitment, headhunting agencies, media advertisements (newspapers, magazines, TV and broadcasting), Internet recruiting, on-site recruiting, internal references and ‘walk ins’. Different approaches are needed for various recruiting requirements.
7.1 Major Recruitment Agencies and Websites
Table 7 lists the major recruitment agencies in the UAE and their websites.
Table 7: Major Recruitment Agencies and Websites
|TOP INTERNET RECRUITMENT AGENCIES||WEBSITES|
7.2 Brief Overview of Labour Laws
Administered by the Federal Ministry of Labour and Social Affairs, the Labour Law in the UAE is loosely based on the International Labour Organisation’s model. UAE Law No. 8 of 1980, as amended by Law No.12 of 1986 (the Labour Law) governs most aspects of employer/employee relationships, such as work hours, leave, termination rights, medical benefits and repatriation. The Labour Law is protective of employees in general and overrides conflicting contractual provisions agreed under another jurisdiction, unless they are beneficial to the employee.
The ministry issues a model form of labour contract in Arabic, which is widely used. Other forms of contract are enforceable, provided they comply with the Labour Law. End-of-contract gratuities are set at 21 days’ pay for every year of the first five years of service and 30 days for every year thereafter. Total gratuity should not exceed two years’ wages. Employees are entitled to pro-rated amounts for service periods less than a full year, provided they have completed one year in continuous service.
Trade unions do not exist. In the case of a dispute between an employer and an employee, or in the interpretation of the Labour Law, the Ministry of Labour and Social Affairs will initially act as an adjudicator in an effort to resolve matters. If a party wishes to appeal any decision taken, it can take its case to court. Strikes and lockouts are forbidden.
The normal maximum working hours are 8 per day or 48 per week. However, these hours may be increased to 9 hours daily for people working in the retail trade, hotels, restaurants and other such establishments. Similarly, daily working hours may be reduced for difficult or dangerous jobs. Many businesses work on a two-shift system (for example, 8am–1pm and 4pm–7pm). As in all Muslim countries, Friday is the weekly day of rest. In practice, commercial and professional firms work 40–45 hours a week and government ministries for about 35 hours. The weekend for office workers has traditionally been Thursday afternoons and Fridays but a number of organisations have changed over to a five-day week with the weekend comprising Fridays and Saturdays. During the Muslim holy month of Ramadan, normal working hours are reduced by two hours daily.
There are 10 days of public holidays (paid) in a year. An employee's annual leave is two days for every month if his service is more than six months and less than a year. With every completed year of service after the first year, an employee is entitled to 30 days annual paid leave. This is in addition to public holidays, maternity leave for women and sick leave.
Expatriates who have not worked in UAE can avail a visa for 60 days to work temporarily. A fee of AED 500 needs to be paid for the job. Further, the employees who have served two years under an employer are eligible for transfer without the need for a no-objection certificate (NoC).
7.3 Average Salary Range
The median salary ranges by job, employer type, industry, city and degree in the UAE in 2009, as per Payscale, are listed in the tables 8–12, respectively:
Table 8: Median Salary by Jobs in the UAE in 2011
|JOBS||MEDIAN SALARY (IN EUR/AED)|
|Regional Sales Manager||EUR 50,580.13 (AED 246,132)|
|Project Manager – Information Technology (IT)||EUR 48,968 (AED 238,291)|
|Mechanical Engineer||EUR 21,845.68 (AED 106,305)|
|Business Development Manager||EUR 38,013.39 (AED 184,980)|
|Human Resources – Manager||EUR 47,356.86 (AED 230,447)|
Table 9: Median Salary by Employer Type in the UAE in 2011
|EMPLOYER TYPE||MEDIAN SALARY (IN EUR)|
|Company||EUR 31,495.36 (AED 153,265)|
|Private Practice/Firm||EUR 28,313.17 (AED 137,777)|
|Non-Profit Organisation||EUR 37,009.32 (AED 180,094)|
|Government – State and Local||EUR 37,896.46 (AED 184,411)|
|School/School District||EUR 19,172.53 (AED 93.297)|
|Other Organisations||EUR 24,858.92 (AED 120,968)|
|College/University||EUR 36,242.19 (AED 176,361)|
|Self-employed||EUR 28,951.05 (AED 140,881)|
|Government – Federal||EUR 38,435.90 (AED 187,036)|
|Foundation/Trust||EUR 42,559.67 (AED 207,103)|
|Franchise||EUR 18,994.57 (AED 92,431)|
|Hospital||EUR 23,967.88 (AED 116,632)|
|Contract||EUR 20,869.35 (AED 101,554)|
|Team||EUR 20,084.54 (AED 97,735)|
Table 10: Median Salary by Practice Area in the UAE in 2011
|INDUSTRY||MEDIAN SALARY (IN EUR)|
|Corporate, Business, Mergers & Acquisitions||EUR 57542.06 (AED 280,010)|
|Litigation & Appeals||EUR 51,254.78 (AED 249,415)|
|General||EUR 43,537.64 (AED 211,862)|
|Real Estate / Construction / Land Use||EUR 49,320 (AED 240,000)|
|Trusts & Estates||EUR 51,254.78 (AED 249,415)|
|Insurance Law||EUR 27,659.07 (AED 134,594)|
Table 11: Median Salary by City in the UAE in 2011
|CITY||MEDIAN SALARY (IN EUR)|
|Dubai||EUR 30,730.88 (AED 149,542)|
|Abu Dhabi||EUR 35,694,73 (AED 173,697)|
|Sharjah||EUR 19,775.68 (AED 96,232)|
|Al Ain||EUR 23,758.88 (AED 115,615)|
|Ajman||EUR 13,809.60 (AED 67,200)|
|Fujairah||EUR 12,929.85 (AED 62,919)|
Table 12: Median Salary by Certification in the UAE in 2011
|DEGREE / MAJOR SUBJECT||MEDIAN SALARY (IN EUR)|
|Certified Professional Engineer (PE)||EUR 36,898..35 (AED 179,554)|
|Project Management Professional (PMP)||EUR 58,232.74 (AED 283,371)|
|Cisco Certified Network Associate (CCNA)||EUR 23,156.77 (AED 112,685)|
|Microsoft Certified Professional (MCP)||EUR 28,718.83 (AED 139,751)|
|Business Certificate||EUR 29,152.02 (AED 141,859)|
|Chartered Accountant (CA)||EUR 42,098.52 (AED 204,859)|
|Microsoft Certified Systems Engineer (MCSE)||EUR 30,113.15 (AED 146,536)|
|Certified Public Accountant (CPA)||EUR 45,858.97 (AED 223,158)|
|Project Management Certificate||EUR 49,528.58 (AED 241,015)|
Source: Payscale - UAE - Median Salary by Degree - 2011
The UAE is an attractive location to invest or set up business operations, particularly in light of the relative scarcity of personal and corporate taxes. Only a few industries in the UAE are in fact subject to taxes. It is expected that this approach will not change in the medium or long term. The UAE has entered into numerous double-taxation avoidance treaties with other countries to avoid instances of tax being levied on a person in connection with the same matter in two different countries.
8.1 Tax Rates
There is no federal tax legislation in the UAE; instead each emirate follows its own tax law. The following taxes are not applicable in the UAE:
Personal income tax
Capital gain tax
Currently, there are legislations in force in the emirates of Abu Dhabi, Dubai and Sharjah, establishing a general corporate taxation regime—the Abu Dhabi Income Tax Decree of 1965 (and its amendments), Sharjah Income Tax Decree of 1968 (and amendments) and Dubai Income Tax Decree of 1969 (and amendments). In practice, however, only oil, gas and petrochemical companies and branch offices of foreign banks are required to pay taxes.
8.1.1 Personal Taxation
There is no personal income tax levied in the UAE.
Municipality service charges are levied on individuals living and working in the UAE.
Service charge percentages vary among the emirates.
A service charge of 5–10 percent is imposed on food purchased in restaurants. Hotels require a 10–15 percent service charge per night on room rates. These charges are usually included in the customer’s bill, which the municipality will collect from restaurants and hotels.
A tax of 50 percent is charged on import of alcohol. An individual, who has a liquor licence, is required to pay an additional 30 percent tax on liquor upon buying.
Hotels also require an additional 15 percent service charge on the services they provide.
8.1.2 Corporate Tax
There is no federal tax legislation on corporate tax in the UAE; instead, each emirate follows its own tax rules.
There are no corporate, income, withholding, sales or valueadded taxes currently imposed in Abu Dhabi, apart from the following exceptions:
- Taxes on oil and gas companies at rates specified in the relevant concession agreement
- Flat rate on annual profits of branches of foreign banks
- Flat rate service tax on hotel services and entertainment
However, according to the Abu Dhabi Income Tax Decree of 1965 (as amended by Abu Dhabi Income Tax Decree Number (4) of 1972), every chargeable person who conducts trade or business, including the rendering of any services in Abu Dhabi, shall be subject to a scale on income basis, with a maximum of 55 percent tax as listed in Table 13.
Table 13: Tax in the UAE as Percent of Income
|Less than EUR 199,930 (AED 1,000,000)||0|
|Equal to or more than EUR 199,930 ( AED 1,000,000) but less than EUR 399,860 (AED 2,000,000)||10|
|Equal to or more than EUR 399,860 (AED 2,000,000) but less than EUR 599,790 (AED 3,000,000)||20|
|Equal to or more than EUR 599,790 (AED 3,000,000) but less than EUR 799,720 (AED 4,000,000)||30|
|Equal to or more than EUR 799,720 (AED 4,000,000) but less than EUR 999,650 (AED 5,000,000)||40|
|More than EUR 999,650 (AED 5,000,000)||55|
Source: Al-Tamimi - Document - Taxation Law in the UAE
In Dubai, all companies are required by law to pay tax on their earnings. The rates of tax are on a sliding scale up to a maximum of 50 percent. In practice, however, only oil, gas and petrochemical companies and branch offices of foreign banks are required to pay tax.
The Dubai Income Ordinance of 1969 and Dubai Income Tax Decree of 1970 (and its amendments) specifies that an organisation that conducts trade or business in Dubai will be subject to taxation as listed in Table 13.
Oil companies pay up to 50 percent tax on the UAE-sourced taxable income while banks pay 20 percent tax on taxable income (income tax on branch offices of foreign banks ordinance (No. 2) of 1997). The taxable income of banks is calculated with reference to their audited financial statements whereas that of oil companies is calculated with reference to their concession agreements.Oil companies also pay royalties on production.
Customs duties are extremely low and there are many exemptions. Goods imported and intended for re-export often benefit from customs duty as do manufacturers on the import of their machinery, raw materials and spare parts used for industrial purposes.
The Sharjah Income Tax Decree of 1968 (and its amendments) specifies that tax, on the scale listed in Table 13, shall be imposed on the taxable income of every chargeable person for each income tax year ending after the date of this decree. In practice, however, only oil, gas and petrochemical companies and branch offices of foreign banks are required to pay tax on their net profit.
8.1.3 Property Tax15
In the UAE, tax is payable by residential and commercial tenants according to the annual rent of a residential property at the rate of 5 percent and for a commercial property at the rate of 10 percent.
A property tax is charged in Abu Dhabi to obtain and renew business licences. In general, taxes are assessed at around 5–10 percent of the applicant’s annual office rental and 5 percent of the annual rental of the residence of the manager whose name appears on the licence.
In Dubai, all residential properties are subject to an annual property tax payable to the Dubai Municipality.
The amount of tax payable depends upon the employment status of the tenant. All professional, managerial and other senior employees in commercial, professional and industrial sectors are charged at the rate of 5 percent of the annual rent of their property, whereas in the banking sector, the percentage is 15 percent of the annual rent of their property.
It is the tenant’s obligation to pay the property tax. The Dubai Municipality often collect the tax from the tenant’s employer through the Department of Economic Development at the time of issuing or at the annual renewal of the employer’s trade licence.
The Dubai Department of Economic Development collect the tax with reference to a list to be submitted by companies applying for the issue or renewal of their trade licences. The list contains the names and job titles of all of the company’s employees and the amount of their rent.
Junior employees are charged at a flat rate of EUR 60 (AED 300). A flat rate of EUR 199.9 (AED 1000) is payable in the absence of a lease agreement.
The Dubai government has introduced new tax rules wherein a 5-percent tax will be charged on residential units (including vacant freehold properties) based on the real estate index RERA and 10 percent tax will be charged on commercial units in addition to 1 percent transfer fee based on selling price.
In Sharjah, all leased residential properties are subject to an annual property tax payable to the Sharjah Municipality, charged at 2 percent of the annual rent shown in the tenancy agreement, subject to a minimum of) EUR 60 (AED 300) and payable when the tenant notarises the agreement.
8.2 Double Tax Treaty between the UAE and the Luxembourg
The UAE has 58 double-taxation avoidance agreements and 32 bilateral investment treaties in place. Applicable since November 2005, the main tax law regarding double taxation is specified in the agreement between the UAE and the Grand Duchy of Luxembourg to avoid double taxation and to boost bilateral trade and investment between the two states.
This agreement provides equal taxation treatment to investors in the UAE and Luxembourg. Moreover, it provides an environment that stimulates foreign direct investment, encourages business ventures, and enhances cooperation and the economic growth levels of both countries. Further, it paves the way for new common projects that benefit the economies of the two countries. The agreement also encourages tourism and bilateral trade between the two countries, especially after the implementation of income and profit tax exemption regulations granted to national air cargo companies.
8.3 Repatriation of Profits
There are no exchange controls or restrictions on repatriation of profits in the UAE; 100 percent repatriation of capital and profits is allowed.
Appendix I: Useful Links and Addresses
|TYPE OF ORGANISATION||ADDRESS||CONTACTS||WEBSITE|
|UAE MINISTRIES, AGENCIES aND SERVICES|
|Luxembourg Trade and Investment Office - Abu Dhabi||Luxembourg Embassy
Silver Wave Tower - Office 1001 Meena Road
P.O. Box No 44909
ABU DHABI - UNITED ARAB EMIRATES
|Tel: +971 2 4912 446
Fax: +971 2 4912 289
Mr. Marc Scheer
|Luxembourg Trade and Investment Office - Dubai||Dubai Cargo village
room 3035, 3rd floor
P.O. Box 211024
United Arab Emirates
|Mr. Albert PANSIN
Mobile: +97150 624 9030
|Embassy of the United Arab Emirates||73 avenue F.D. Roosevelt
|Tel: +32 2 640 60 00
Fax: +32 2 646 24 73
|UAE Government||Not Applicable||E-mail: firstname.lastname@example.org||www.uae.gov.ae/home.htm|
|Ministry of Finance and Industry||P.O. Box 433
Abu Dhabi Office
Tel: +971 2 6726000
Fax: +971 2 6663088
P.O. Box 1565
|Ministry of Foreign Affairs||P.O. Box 1
Abu Dhabi Office
Tel: +971 2 4444488
Fax: +971 2 4449100
P.O. Box 3785
|Ministry of Labour||Abu Dhabi Office
Tel: +971 2 6671222
Fax: +971 2 6665889
|Ministry of the Economy||Planning Sector
P.O. Box 904
Abu Dhabi Office
Tel: +971 2 6271100
Fax: +971 2 6261344
|Immigration Department||Abu Dhabi Office
Saeed bin Tahnoon St.
Tel: +971 2 4462244
|Not Available||Not Available|
|Emirates Organization for Properties||P.O. Box 407
Abu Dhabi Office
Tel: +971 2 6322200
Fax: +971 2 6322260
|State Audit Institution||P.O. Box 3320
Abu Dhabi Office
Tel: +971 2 6448800
Fax: +971 2 6448688
P.O. Box 5513
|BELGIAN aND LUXEMBURG ASSOCIATIONS IN THE UAE|
|The Belgian and Luxembourg Association in the Emirates||Not Applicable||E-mail: email@example.com||http://www.uae.clubnieuws.be|
Appendix II: Embassies
|UAE Embassy in Belgium||UAE Embassy
73 Av. F. Roosevelt 1050
Tel: +32 2 640 6000
Fax: +32 2 646 2473
|E-mail: firstname.lastname@example.org||Not Available|
|Belgium Embassy in the UAE||Al Masaood Tower (6th floor)
Tel: +971 2 6319 449
Fax: +971 2 6319 353
The Government of the Grand Duchy of Luxembourg declines all responsibility regarding the use of information featured in this document. The contents are provided for information purposes only. They contain information which is not necessarily complete, exhaustive, precise or up to date. In the event of discrepancies between the texts of this publication and the original documents, the original documents as officially published shall apply. This publication may refer to external sites over which the Government of the Grand Duchy of Luxembourg has no control and for which it declines all responsibility.
Ministry of the Economy and Foreign Trade
Directorate of Foreign Trade
L-2914 Luxembourg | Grand Duchy of Luxembourg
Tel.: (+352) 247 841 25 | Fax: (+352) 22 34 85
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