Reference
Glossary: UAE Business Terms
155 definitions covering company formation, free zones, visas, tax, audit, compliance, and banking — written in the context of doing business in the UAE.
155 of 155 terms
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A
- Agricultural License
- UAE licence for farming and livestock activity.
- AML(Anti-Money Laundering)
- Federal regime requiring designated UAE entities to perform risk assessment, set up an AML policy, file reports through goAML, and respond to regulator queries.
- Apostille
- Single-step legalisation that lets foreign documents be recognised in the UAE.
- Articles of Association(AOA)
- Companion charter to the MOA detailing internal governance — director powers, share-transfer rules, meeting protocols.
- Audit
- Statutory or voluntary financial audit performed by a licensed UAE auditor.
- Audit Report
- Independent opinion produced after an internal or external audit.
- Authorized Signatory
- Person formally empowered to sign on behalf of an entity — typically the manager or director listed on the trade license.
B
- Balance Sheet
- Statement of financial position showing assets, liabilities, and equity at a point in time.
- Bank Reconciliation
- Process of matching bookkeeping entries against bank statements.
- Beneficial Owner(UBO)
- The natural person who ultimately owns or controls the entity.
- Board Resolution
- Formal corporate decision passed by the board of directors.
- Bookkeeping
- Day-to-day recording of transactions paired with bank reconciliation and financial reporting.
- Branch Office
- Extension of a parent company that shares its legal personality.
- Budgeting & Costs
- UAE setup and operating cost guide for new businesses.
- Business Activity
- A DED-approved activity selected for a UAE trade licence.
- Business Partner
- Shareholder or co-founder in a UAE business.
- Business Setup Consultant
- Brand pillar page for Best Solution as a UAE business setup consultancy.
C
- Cash Flow Statement(CFS)
- One of the three core financial statements.
- Certificate of Incorporation
- Government-issued document proving a company exists.
- Civil Company
- Mainland partnership available to professionals such as consultants, doctors, engineers, and lawyers.
- Commercial License
- UAE licence for general commercial activity.
- Company Liquidation
- Formal closure of a UAE entity through the licensing authority.
- Consulate Attestation
- Document legalisation step performed by the consulate of the destination country.
- Copyright
- Legal protection for original creative works.
- Corporate Bank Account
- Business account in the name of a UAE-licensed entity.
- Corporate Tax(CT)
- Federal tax on net business profits.
- Corporate Tax Audit
- FTA verification process for UAE Corporate Tax.
- Corporate Tax Filing(None)
- Annual UAE Corporate Tax return submission.
- Corporate Tax Registration(CT)
- Registration step with the UAE Federal Tax Authority for Corporate Tax.
- Crafts License
- UAE licence for skilled craft trades.
- CRS(Common Reporting Standard)
- Automatic exchange-of-information framework.
D
- DED
- Department of Economic Development — UAE emirate-level economic regulator.
- DET(Department of Economy & Tourism (formerly DED))
- Dubai's mainland licensing authority.
- DIFC(Dubai International Financial Centre)
- Financial free zone with its own common-law courts and regulator.
- DLD
- Dubai Land Department — real estate registration and regulation authority.
- DMCC(Dubai Multi Commodities Centre)
- Largest Dubai free zone by company count, focused on commodities, trading, and professional services.
- DNFBP(Designated Non-Financial Businesses & Professions)
- UAE category covering real-estate brokers, dealers in precious metals and stones, auditors, lawyers, and corporate service providers.
- Document Clearing
- Service of preparing, submitting, and following up on government paperwork — trade name reservation, initial approval certificates, attestations — without errors or delays for the customer.
- Domestic Worker Permit
- Specialised work permit for household staff — maids, drivers, nannies, cooks.
E
- E-Commerce License
- UAE licence for online selling activity.
- EIDA
- Emirates Identity Authority — issues Emirates ID.
- Ejari
- Dubai's tenancy registration system.
- EmaraTax
- Federal Tax Authority's online portal for Corporate Tax, VAT, and Excise.
- Embassy Attestation
- Document legalisation step performed by the issuing country embassy.
- Emirates ID
- National identity card every UAE resident must hold.
- Employment Visa
- Two-year residency tied to a UAE employer.
- Entry Permit
- Pre-residency permit issued after work-permit approval.
- ESR(Economic Substance Regulations)
- Regulation requiring relevant entities to file an annual ESR submission proving real economic substance in the UAE.
- Establishment Card
- Immigration card linking a UAE entity to GDRFA/ICP systems.
- External Audit
- Independent statutory audit by an unrelated UAE-licensed auditor.
F
- Family Office(FO)
- Private wealth management entity for high-net-worth families in the UAE.
- Family Sponsorship
- Right of a UAE resident to sponsor spouse, children, and parents on dependent residency visas.
- Family Visa
- Dependent residency issued to a spouse, child, or parent sponsored by a UAE resident.
- FATCA(Foreign Account Tax Compliance Act)
- US tax-information regime that UAE banks apply to detect US persons.
- Financial Statements
- Annual set of audited accounts (Profit & Loss, Balance Sheet, Cash Flow).
- Flexi-Desk
- Shared workspace package sold by free zone authorities to satisfy the physical-space requirement of a license.
- Free Zone(None)
- Designated economic area governed by its own authority that grants 100% foreign ownership and customs benefits.
- Free Zone Authority(None)
- Government body that licenses, regulates, and renews entities inside a single free zone.
- Free Zone License
- Pillar page for free zone business setup in the UAE.
- Freelance Permit
- Self-employment licence and matching residency for individual consultants, creatives, and gig workers.
- Freezone Company (FZC)(FZC)
- Multi shareholder free zone entity.
- Freezone Establishment (FZE)(FZE)
- Single shareholder free zone entity.
- FTA(Federal Tax Authority)
- UAE federal regulator that administers Corporate Tax, VAT, and Excise.
- FTA Tax Audit(FTA)
- Inspection by the Federal Tax Authority of a taxable person's records.
G
- GDRFA(General Directorate of Residency & Foreigners Affairs)
- Dubai immigration authority that issues entry permits and residency visas.
- General Trading License
- UAE licence covering trading in multiple unrelated products.
- goAML
- UN-developed reporting platform used by the UAE Financial Intelligence Unit.
- Golden Visa(GLV)
- Long-term residence visa of 5 or 10 years that does not require an employer sponsor.
- Grace Period
- Window after visa cancellation, expiry, or trade-license amendment in which the holder can act without fines.
H
- Holding Company
- Entity whose primary purpose is to own shares or assets in subsidiaries.
I
- ICP(Federal Authority for Identity, Citizenship, Customs & Port Security)
- Federal authority that issues Emirates IDs and processes visas outside Dubai.
- IFRS(International Financial Reporting Standards)
- Accounting standards used to prepare audit-ready financial statements in the UAE.
- IFZA(International Free Zone Authority)
- Dubai-based free zone known for low-cost packages and fast issuance.
- Industrial License
- UAE licence for manufacturing activity.
- Initial Approval
- First-stage clearance certificate confirming proposed activity, shareholders, and trade name.
- Internal Audit
- Ongoing review by an in-house or outsourced function that tests controls and compliance.
- Investor Visa
- Two-year residency granted to shareholders of a UAE-licensed company.
J
- JAFZA(Jebel Ali Free Zone)
- Largest UAE free zone by area, anchored to Jebel Ali Port.
- JAFZA Offshore
- Offshore registry under the Jebel Ali Free Zone Authority.
K
L
- Legal Structure
- The entity form of a UAE business — LLC, FZE, sole establishment, branch, etc.
- Legal Translation
- Translation by a UAE Ministry of Justice–licensed translator.
- License Amendment
- Procedure to change activity, shareholder or name on a UAE trade licence.
- License Renewal
- Annual procedure for renewing a UAE trade licence.
- LLC(Limited Liability Company)
- Most common UAE mainland structure.
- Local Service Agent(LSA)
- UAE national appointed by foreign-owned professional licenses or branch offices to liaise with government bodies.
- Local Sponsor
- Historic UAE national sponsorship requirement.
- Local Sponsorship
- Pre-2021 requirement for 51% UAE national ownership in mainland LLCs.
M
- Mainland Company
- Entity licensed by an emirate-level economic department.
- Mainland License
- Pillar page for mainland business setup in the UAE.
- Medical Fitness Test
- Mandatory health screening during residency issuance.
- Meydan Free Zone(MFZ)
- Dubai free zone based at the Meydan Grandstand, popular with consultants and trading businesses.
- MOA(Memorandum of Association)
- Foundational charter signed by shareholders that defines share capital, ownership percentages, and management powers.
- MOCCAE
- Ministry of Climate Change and Environment.
- MOFA
- Ministry of Foreign Affairs — performs document attestation.
- MOFA Attestation
- Final UAE Ministry of Foreign Affairs stamp on a foreign document.
- MOHRE(Ministry of Human Resources & Emiratisation)
- Federal ministry regulating private-sector mainland employment.
- Multi-Currency Account
- Single bank relationship offering sub-accounts in AED, USD, EUR, GBP, and other currencies.
N
- NOC(No Objection Certificate)
- Letter from an existing employer, sponsor, or authority confirming it has no objection to a specific action — switching jobs, opening a second license, or signing a declaration.
- Notary / POA
- Power of Attorney executed and authenticated via a UAE notary public.
- Notary Public
- Government-authorised official who attests signatures and certifies legal documents.
O
- Offshore Company
- Non-resident structure used for international holdings, IP, and asset protection.
- Offshore License
- Pillar page for offshore business setup in the UAE.
- Offshore SPV(SPV)
- Special Purpose Vehicle established offshore for ringfencing assets or transactions.
P
- Patent
- Exclusive right to exploit a novel invention.
- POA(Power of Attorney)
- Notarised authorisation letting one person act on another's behalf.
- Police Clearance Certificate(PCC)
- Criminal-record certificate from the applicant's home country, frequently translated and attested for UAE submissions.
- Professional License
- License covering knowledge-based services such as consulting, IT, marketing, and design.
- Profit & Loss Statement(P&L)
- Statement of revenue, expenses, and net profit over a period.
- Profit Repatriation
- Transfer of after-tax profits to overseas shareholders.
- Property Investor Residence Visa
- Residency granted to UAE real-estate investors meeting the property-value threshold.
- Public Joint Stock Company (PJSC)(PJSC)
- UAE listed company structure with shares offered to the public.
Q
- QFZP(FZ)
- QFZP — placeholder definition.
R
- RAK ICC(RAK International Corporate Centre)
- Most cost-effective offshore registry in the UAE, with over 30,000 companies registered.
- RAKEZ(Ras Al Khaimah Economic Zone)
- Multi-sector free zone in Ras Al Khaimah serving manufacturing, education, and SMEs.
- Residence Visa
- Core UAE visa pillar permitting residency under a sponsor or licence.
S
- SCA
- Securities and Commodities Authority — UAE federal markets regulator.
- Shareholder
- Owner of equity in a UAE entity.
- SIRA
- Security Industry Regulatory Agency — Dubai security services regulator.
- Sole Establishment
- Mainland structure owned by a single individual who bears unlimited personal liability.
- Source of Funds(SoF)
- KYC documentation showing the legitimate origin of money used for share capital or transactions.
- Specimen Signature
- Sample signature of each director or authorized signatory captured during incorporation.
- Statutory Audit
- Audit required by law (free zone bylaws, Corporate Tax thresholds, banking covenants) rather than one undertaken voluntarily.
- Subsidiary Company
- Company owned by a parent company.
T
- Tadbeer
- MOHRE-licensed service centre network handling all domestic-worker recruitment, contracts, and visas.
- Tourism License
- UAE licence for travel agencies and tour operators.
- Trade License
- Primary government-issued document permitting an entity to operate.
- Trade License Amendment
- Modification to an existing license — changing activity, shareholder, name, or address.
- Trade License Renewal(DET)
- Annual renewal with DET or the relevant free zone authority, including Emirates ID updates, visa renewals, and trade-name copyright handling so the loop is fully closed each year.
- Trade Name Reservation
- Reservation of a proposed company name with the licensing authority.
- Trademark(TM)
- Brand-identity registration that secures a logo or wordmark globally.
- Trial Balance
- List of every general-ledger account with its debit or credit balance at a point in time.
- TRN(Tax Registration Number)
- Unique identifier issued by the FTA on Corporate Tax, VAT, or Excise registration.
- TRN Registration(TRN)
- Procedure to obtain a UAE Tax Registration Number from the FTA.
U
- UAE Free Zone(FZ)
- Umbrella concept page linking all free zone entity types.
- UAE Mainland
- Umbrella concept page linking all mainland entity types.
- UAE Offshore
- Umbrella concept page linking all offshore entity types.
- UAE Pass
- National digital identity wallet that acts as a single sign-on for federal and emirate online services.
- UAE Residency Visa
- Renewable residence permit issued via employment, investment, property, or family sponsorship.
- UBO(Ultimate Beneficial Owner)
- Disclosure regime obliging every entity to identify and file its real ultimate owners.
V
- VARA
- Virtual Assets Regulatory Authority — Dubai crypto and virtual asset regulator.
- VAT(Value Added Tax)
- Indirect tax of 5% on most goods and services.
- VAT Refund(FTA)
- Reclaim of excess input VAT from the FTA.
- VAT Return Filing(VAT)
- Quarterly or monthly UAE VAT return submission.
- VAT Rules(VAT)
- UAE VAT rate, exemptions and zero-rated supplies.
- Visa Cancellation
- Formal closure of a UAE residency visa with GDRFA or ICP.
- Visa Stamping
- Final step where the residency permit is electronically linked to the holder's passport.
- Visit Visa
- Short-term entry permit for tourism or business visits.
W
- Withholding Tax
- Tax deducted at source on cross-border payments.
- Work Permit
- MOHRE-issued authorisation that lets a foreign national work for a specific mainland employer.
