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UAE Launches New Visa Categories - Green Visa, Freelancers Visa

The United Arab Emirates announced the launch of a new resident visa category called the Green Visa on Sunday. Green Visa holders can sponsor their sons' visas till their boys reach the age of 25. Sons are usually only sponsored until they reach the age of 18. Green visa holders can support their parents as well. The new Green Visa will not be linked to work permits from firms, according to Dr Thani Al Zeyoudi, Minister of State for Foreign Trade. It would be targeted at highly talented persons, investors, entrepreneurs, top students and graduates. He also announced a new category of Visa for freelancers. Green visa holders will be given a 90-180 day grace time to leave the country once their visas expire, rather than the current 30-day grace period. When asked about the difference between  Golden visas  and Green, the minister stated that they are all complimentary. "It is a full package that includes  UAE golden visas , green visas and tourist visas. Freelancer visa is ...
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TINCO and TINCE

The Federal Tax Authority (FTA) of the United Arab Emirates has published two new guides associated with Excise Tax Clearing Companies(TINCEs).

What is TINCO?

TINCO is a particular reference number that is allocated to cargo forwarders or clearing agents who register with FTA (Federal Tax Authority).

FTA affirmed clearing organizations can apply for excise tax clearing company (TINCE) registration by signing in to their existing TINCO account. Therefore, before doing this registration, the company should already be registered with FTA(Federal Tax Authority) as a clearing company (TINCO)

Who Should Register?

Enrolled Clearing Companies with TINCO accounts can use the TINCE registration form to apply for suspension of the Excise Tax due on the Excise Commodities that they will import on behalf of importers.

During the registration process, the Clearing Company will be needed to give a guaranteed amount to the FTA. On successful registration, the Clearing Company will be permitted to suspend Excise Tax on the Excise Goods imported, up to the assurance amount held by the FTA. The suspended Excise Tax amount will be delivered once the Excise Goods have been exported. On the off chance that any of the imported Excise Goods are consumed within the UAE, the Clearing Company will be needed to pay the Excise Tax due on the quantity consumed.

The key advantages which can be availed by the respective registrants 

On acquiring the TINCE registration, the clearing companies can avail suspension of the Excise Tax (up to the guarantee amount held by FTA) due on the excise goods that will be imported on behalf of their clients.

Amendments that Require Approval From the FTA

By clicking the ‘Amendment’ button, the following segments can be amended:

• Details of the business’s Manager (CEO or equivalent)

• About the Clearing Company

• Financial Guarantees

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