You see the offer — “No annual fee. Lifetime free.” Who wouldn’t want that, right? In many ways, they can be great and convenient, especially for shoppers looking to avoid paying annual fees for years to come. However, the reality is, just because there is no annual fee on your Credit Card, doesn’t mean it comes without any associated cost. 

All the hidden fees can accumulate without notice, leaving many Credit Card holders unaware. Before you hit that tempting free Credit Card apply button, understanding the hidden costs is important.

Interest Charges

Let’s begin with the most common one, interest. Even on a “free” card, carrying an unpaid balance from one month to the next can attract high interest rates. Depending on the issuer, this might be anywhere between 24% and 48% annually. That’s a hefty price to pay just for not clearing your dues. So, while there may be no fee to own the card, using it without a repayment plan can quickly become expensive.

Late Payment Fees

Missed a payment? Even in a day? That one delay might cost you between ₹500 and ₹3,000, depending on your Credit Card provider. Late payments will also hurt your credit score, and it will be tough to get a Loan in the future. Autopay or calendar reminders are easy solutions to the same problem.

Cash Advances

Ever needed quick cash and thought, “Why not just withdraw it from my Credit Card?” That decision can come with steep fees. Not only is … READ MORE ...

Key Takeaways:

• Choosing the right jurisdiction (mainland or free zone) and legal structure is the foundational rule for any Business setup in Dubai.
• 100% foreign ownership is now permitted for most mainland activities, eliminating the previous local partner requirement.
• All businesses must obtain a trade license from the Department of Economy and Tourism (DET) or a relevant Free Zone authority.
• Physical office space is generally mandatory, though flexible options exist in free zones.
• Businesses must comply with Corporate Tax (9% on profits over AED 375,000, 0% for qualifying free zone entities) and VAT (5%) regulations.
• Adherence to UAE Labor Law is essential for all employers, covering contracts, wages, working hours, and benefits.

Dubai has established itself as a leading global business hub, attracting entrepreneurs and investors from around the world. Its rapid growth and business-friendly policies are underpinned by a robust and evolving regulatory framework. Understanding “What are the rules for Business setup in Dubai?” is crucial for any aspiring business owner, as compliance with these regulations ensures a smooth, legal, and sustainable operation. These rules govern everything from initial registration to ongoing financial, operational, and employment obligations.

Rules for Jurisdiction and Legal Structure for Business setup in Dubai

The fundamental rules for a Business setup in Dubai begin with choosing where you will operate and what legal form your business will take. This decision has far-reaching implications for your operational scope, ownership, and regulatory obligations.

• Jurisdiction Choice (Mainland vs. Free Zone):
  • Mainland: Companies licensed by the Department

… READ MORE ...