Article image: Charity and social funds in the United Arab Emirates

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The banking activity and finances are regulated by the Central bank’s normative acts. Full version

It is known that the wish to help needy and exposed social groups is a praiseworthy impulse that is endorsed by the society. There is a category of people, for whom this wish is a profession. Such people open social and charitable funds. These types of public funds belong to non-profit organizations, for which the main goal is not gaining profits, but helping those in need.

Charity as a social phenomenon is particularly relevant in today's society, where financial and other assets are distributed based on priority. In fact, charity is a non-repayable and gratuitous transferring of the various material assets to the needy segments of the population. However, before opening a fund in the UAE, one should realize the purpose of its creation and its basic functions. The determining factor of opening / registering a fund is the solvency of the commercial organizations and private individuals who plan a charity.

Usually, social and charity funds are organizations with the status of a legal entity, which operate as intermediaries between the needy and those who make donations. However, the fund itself needs financial resources to conduct its activities. That is why such funds have the right to use a part of the assets for their needs. Such needs may include staff salaries, rental costs and utility payments, as well as the purchase of the necessary equipment.

In addition, social and charity funds are heavily subsidized by the state. These benefits stimulate the organizational work. As to the United Arab Emirates, the ideal conditions for any entrepreneurial activity are created here, and charity funds are not an exception. Creation of the free zones with a special economic status is a vivid example of the government initiatives in the Emirates. For instance, a Dubai Aid City specialized free zone was created under the patronage of the authorities of the Emirate of Dubai. If you plan to open / register a charity fund in the UAE, this economic zone can become the most suitable platform.

How to open a charity company in the Dubai Aid City, and what are the advantages

Opening / registering a company in the Dubai Aid City is an opportunity to work for charitable causes and receive the maximum support from the state. This economic zone operates under the auspicious of the UAE Government and aims at providing a timely shipping and handling of the humanitarian supplies and cargo. Α modern infrastructure and all the necessary conditions for the activities of international charitable organizations are created here. It is a really convenient and practical platform in the given industry, which has no analogues in the world.

The modern integrated logistics in the Dubai Aid City is fully adapted to the needs of the international humanitarian and charitable organizations. The territory of the free zone offers unlimited access to the major air and sea transportation arteries of the UAE. In addition, here there is an interlining of a wide variety of regional and international flights. The Dubai Aid City free zone is an integrated government project, which provides the most efficient and optimized solutions in the field of global humanitarian logistics and charity.

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