Why Real Estate in UAE is best Business

 One of the best business idea for UAE is its most royal business - Real Estate

Real estate in the UAE is extremely popular with both foreign and local residents. It is also one of the most attractive real estate investment opportunities available in the region and world.

Some data and reasons about UAE real estate market growth - Real estate in the UAE is one of the fastest growing sectors in the country with no foreseeable end. With a population of about 21 million, the UAE has approximately 7.5 million foreign nationals living within its borders – considerably more than any other country in the region.

Real estate in the emirates is increasing in popularity. A lot of people are attracted by the cheap prices and the safety of the government supervision.

Business advice for new new startup

 There are several approaches that someone who has never started a business can take to come up with ideas for new businesses in Dubai:

1. Identify a problem or gap in the market: Look for areas where there is a need that is not currently being fulfilled or where the existing solutions are inadequate. For example, you could research the most common complaints or issues faced by people living or working in Dubai and brainstorm potential businesses that could address these problems.
2. Consider your own interests and passions: Think about the things that you are interested in or passionate about and try to identify business opportunities that align with your skills and expertise. This could involve starting a business in a field that you have experience in or leveraging your hobbies and interests to create a unique business idea.

Best Business ideas in UAE

 

Dubai is a predicated destination for business investors to step forward and set up business in Dubai as it's an investor-friendly terrain.

From broad diversity in population to a thriving frugality, Dubai is a megacity of openings to large investors.

One of the lodestones to set up business in Dubai is its duty governance that pushes the business people to move forward.

currently it's easier to set up a company in Dubai as the Government of Dubai has liberated the rules.
The government authorities in Dubai take applicable enterprise to reuse the documents totally.

4 STEPS TO SUBMIT A VAT RETURN

1-Login to the FTA eServices portal and go to the ‘VAT’ tab whereby you will be able to access your VAT

Returns. From this screen you should click on the option “VAT 201 – New VAT Return”

2-Complete the Form:

Fill in the following details:

• The sales and all other outputs as well as expenses and all other inputs as follows:

1. The net amounts excluding VAT.

2. The VAT amount.

• The system will then calculate the payable or refundable tax.

In what cases is input tax not recoverable?

 Input tax is not recoverable in the following cases:

-- When input tax is incurred by a Person for provision

of entertainment services* to anyone not employed

by the Person, including customers, potential

customers, officials, or shareholder or other owners

or investors.

-- Where a motor vehicle was purchased, rented or

leased for use in the business and is available for

personal use by any person.

-- Where goods or services were purchased to be

used by employees for no charge to them and for

their personal benefit including the provision of

entertainment services except -

οοwhere employer is under legal / contractual

obligation to provide such goods / services or

such goods / services are otherwise part of the

documented policy or normal business practices.

οοwhere the provision of goods/services is a

deemed supply.

What are the conditions to recover input tax?

 Recipient must be a taxable person and must be registered for VAT.

• VAT on the purchase must have been correctly charged

by the supplier.

• The goods or services must have been acquired for an

eligible purpose.

• Recipient must have received and retained a tax invoice

evidencing the transaction

• The amount of VAT which the recipient seeks to recover

must have been paid in whole or in part, or have been

intended to be paid in whole or in part

• VAT paid on the transactions is not specifically blocked

from being recoverable as input tax.

• Reversal of recoverable input tax is required if the

Do property owners have to register for VAT? What if the property is registered in joint names?

 If property is owned and self-used, registration is not required.

If it is rented but if it is residential property more than 3 years old, registration is not required. However, if it is residential property newly constructed or a commercial property (irrespective of new or old), the registration is required, if the rental exceeds Dh375,000.

However, if property is not for rental or business and sold in individual capacity, registration is not required irrespective of selling price.