Banking, fintech, funds, capital markets and cross-border investment
Ras Al Khaimah Economic Zone (RAKEZ) has consolidated more than 45 value-added services for its community of over 50,000 registered companies. The offerings cover business bank account opening assistance, tax compliance, bookkeeping, human resources, and industrial workforce management. RAKEZ reported a 98 percent success rate for its bank account opening assistance.
UAE banks may only freeze or deduct end-of-service gratuity to clear personal loans if permitted by loan agreements and Central Bank regulations. Central Bank rules prohibit lenders from withholding funds exceeding the borrower's debt or applying gratuity toward home loans. Employers also have no obligation to remit severance directly to banks without a prior written undertaking.
The International Free Zone Authority (IFZA), supervised by the Dubai Integrated Economic Zones Authority (DIEZA), provides international entrepreneurs with business setup packages starting at AED 12,900. The framework supports remote company registration, multi-activity licensing, and UAE residence visas valid for up to 24 months. Businesses must comply with UAE tax rules, including economic substance requirements to access the 0% corporate tax rate instead of the standard 9% rate.
The Abu Dhabi Global Market Court has found NMC Health founder Dr Bavaguthu Raghuram Shetty and former executive Prasanth Manghat liable for fraudulent and wrongful trading in the group's 2020 collapse. Presiding Justice Sir Andrew Smith established $5.397 billion as the baseline figure to assess contributions they must repay to the insolvent company's assets. The court determined that both individuals knowingly operated the business fraudulently and concealed borrowings between 2012 and 2020.
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