Every year, FIIB takes it students for a Study Abroad Tour. This year students toured the lanes of Dubai. Watch their presentation here

1. STUDY ABROAD ASSIGNMENT
DUBAI
SUBMITTED BY :- Rashmi Yadav
Priyanka Kanwar
Rini Rajan
Ridham Gupta
Rajnandan Kumar

2. DUBAI
Dubai is a city in UAE and one of the seven emirates that
make up the country.
Population- 2,106,177 & Land territory - 4,114 km2
Emerged as a business and cultural hub of Middle East.
It’s main revenue comes from Tourism.
Major attraction is it’s infrastructure , it has world’s tallest
building –Burj Khalifa.
As of 2012, Dubai is the 22nd most expensive city in the
world.

3. EXCHANGE CONTROL & DEBT TO EQUITY
REQUIREMENT
Currently no foreign exchange control restrictions in the UAE.
No restrictions on the transfer of funds into or out of the UAE, except
that Israeli currency.
All other currencies are traded freely at market-determined prices.
No licence is required to change money.
The government does not impose debt-to-equity ratio requirements
on corporations.

4. TAXATION IN THE UAE
Corporation income tax (or equivalent)-No federal corporate income
tax, it is only on oil & gas companies and also on foreign banks.
Personal income tax- No personal income tax.
Sales tax/VAT-No VAT in the UAE ,might introduce in near future.
Municipal tax- It is levied in various forms in various
emirates, generally as a percentage of rental value.
Hotel tax -Impose a 5-10% hotel tax .
Transfer pricing and thin capitalisation-No transfer pricing regime &
also no thin capitalisation.

5. RESTRICTIONS ON FOREIGN INVESTMENT
The UAE is not an English common law jurisdiction.
Investors, particularly in the real estate sector, are only granted short
six-month resident visas which need to be renewed on expiry.
A foreigner wishing to conduct business outside a free zone must have
a local partner owning at least 51% of the business.
UAE’s oil and natural gas sectors foreign investment is limited to 40
percent and the remaining 60 percent is owned by the Emirates
government control.
Sectors including insurance, telecommunication and travel agencies
are still mostly closed to foreigners.

6. LEARNING EXPERIENCE
INFRASTRUCTURE- Started focusing on it
when it’s oil reserve started depleting.
REVENUE- Main source is tourism.
BUSINESS- Favours local over foreign investors.
LAW & CULTURE- Stringent laws are there, &
also they take pride in their culture.