Connect with us

Business

Comprehensive Guide to Corporate Tax Registration and Filing in the UAE

Published

11 months ago

on

The United Arab Emirates (UAE) introduced a federal corporate tax law which came to effect on 1st June 2023. It applies to all businesses operating in the country, with some exceptions. The corporate tax rate is 9 per cent on taxable income exceeding AED 375,000. However, some businesses in the free zones may benefit from a 0 per cent tax rate on qualifying income. This guide will provide you with the essential information on how to register, file, and pay corporate tax (CT) in the UAE, as well as the exemptions and penalties that may apply.

What is Corporate Tax (CT)?

UAE Corporate tax is a direct tax levied on the profit or net income earned by corporations and other entities from their business activities. Corporate tax is also known as corporate income tax or business profits tax.

The UAE corporate tax law, Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses, was issued by the Ministry of Finance on 9th December 2022 and establishes a Federal Corporate Tax in the UAE. The law covers all individuals and businesses that have a commercial-license and operate in the UAE, unless they are exempted.

What is the corporate tax rate in the UAE?

The corporate tax rate in the UAE is 9 per cent on taxable income exceeding AED 375,000, effective from the start of the financial year commencing on or after 1st June 2023. Taxable income is the net income or profit reported in the financial statements, adjusted for certain additions and deductions as per the corporate tax law and its executive regulations.

The below table summarizes the corporate tax rates in the UAE:


Who is subject to corporate tax in the UAE?

The CT will apply to a taxable person, who can be either a resident or a non-resident person, on whom the provisions of the UAE CT law are applicable and who is liable to pay CT under the law. The corporate tax applies on both residence and source basis.

Residence basis means that a resident’s income derived from domestic and foreign sources is taxable under UAE corporate tax. Source basis means that the corporate tax applies to a non-resident person’s income earned using the sources within the UAE.

1. A resident person can be:

* a juridical person (such as corporations) that is incorporated in the UAE or

* a foreign juridical person that is effectively managed and controlled in the UAE, or

* a natural person who conducts business or business activities in the UAE and has a turnover of over AED 1,000,000 per Gregorian calendar year from such business or business activities.

2. A non-resident person can be:

* Non-resident juridical persons (foreign juridical entities) that have a Permanent Establishment in the UAE

* Non-Resident Persons deriving State Sourced Income

* Non-resident juridical persons that have a ‘nexus’ in the UAE by virtue of earning income from Immovable Property in the UAE

There are some exemptions and incentives for certain categories of businesses and income under the UAE CT law.

Exempt Persons from Corporate Tax in the UAE

Article 4(1) of the UAE Corporate Tax Law provides exemptions from corporate tax (CT) for particular persons who have strong public interest and policy justifications for not being taxed. These persons are known as exempt persons. They fall into one of four categories:

1. Automatically exempt persons such as Government Entities which include the Federal Government, Local Governments, government departments, government agencies, authorities and public institutions of the Federal Government or Local Governments.

2. Exempt if they notify the Ministry of Finance and meet relevant conditions: This category includes businesses that are involved in either extraction or non-extraction of natural resources can qualify for corporate tax exemption if they satisfy the required criteria.

3. Exempt if listed in a Cabinet Decision and meet relevant conditions: It includes government controlled entities and qualifying public benefit entities.

4. Exempt upon application to and approval by the FTA: Following persons can get an exemption from corporate tax (CT) if they apply to the Federal Tax Authority (FTA ) and show that they fulfill the necessary criteria:

* A public or private pension fund or social security fund that is under the supervision of the relevant authority in the UAE and complies with certain conditions;

* A qualifying investment fund; and

* A juridical person incorporated in the UAE that is fully owned (directly or indirectly) and controlled by one of these exempt persons:

* A government entity,

* A government controlled entity,

* A qualifying investment fund that satisfies the relevant conditions set out in Cabinet Decision No. 81 of 2023;

* A public pension fund or social security fund; or

* A private pension fund or social security fund that meets the relevant conditions laid down in Ministerial Decision No. 115 of 2023.

Corporate Tax Registration in the UAE- Who need to Register?

All Taxable Persons should register for Corporate Tax with the Federal Tax Authority also know as ‘FTA‘ and obtain a Tax Registration Number for Corporate Tax. This needs to be done before a deadline to be determined by the FTA. All Taxable Persons are encouraged to register for Corporate Tax as soon as they become aware that they will be within the scope of Corporate Tax.

Non-Resident Persons that do not have a Permanent Establishment in the UAE and only earn State Sourced Income can choose not to register for Corporate Tax purposes. However, Non-Resident Persons that have a nexus in the UAE (arising from earning income from Immovable Property in the UAE) are required to register.

The FTA can, at its discretion, register a Person for Corporate Tax if, on the basis of information available to it, the FTA believes the Person is a Taxable Person. If a Corporate Tax registered Person ceases to be a Taxable Person for any reason, they should file a Tax Deregistration application with the FTA.

How to register for corporate tax in the UAE?

To register for corporate tax in the UAE, you need to access the EmaraTax portal, which is the official e-service platform of the FTA. The following steps are required for corporate tax registration in the UAE:

1. Gather the required documents: The following documents are required for corporate tax registration.

a. In case of applicant is a Natural person:

* Trade license, where applicable

* Emirates ID / Passport of the applicant

b. In case of application is a Legal Persons:

* Trade license

* Emirates ID / Passport of authorized signatory

* Proof of authorization for the authorized signatory.

2. Create an account on Emaratax portal: To register for corporate tax with Emaratax portal, a taxable person need to follow these steps:

* Step 1: Register or log in to Emaratax portal with your email ID and phone number.

* Step 2: Create or choose the taxable person that you want to register for corporate tax.

* Step 3: Select the corporate tax registration option and fill in the required information.

3. Submit the application and wait for approval: The confirmation email and SMS will be sent to the applicant upon successful submission of the application. The corporate tax ID or number will be issued by the Federal Tax Authority (FTA) within 20 business days of approving the application. A Corporate Tax Registration Number (CTRN) and a tax certificate are issued once the application is approved.

What are the benefits of registering for corporate tax in the UAE?

Registering for corporate tax in the UAE has several benefits for businesses, such as:

* Compliance with the UAE tax laws and regulations, and avoidance of penalties and fines for non-compliance

* Access to the EmaraTax portal, which allows businesses to file their corporate tax returns, pay their corporate tax liabilities, request tax certificates, apply for tax refunds, and communicate with the FTA

* Eligibility for tax treaties and tax incentives that the UAE has with other countries, which can reduce the tax burden and enhance the competitiveness of businesses

* Contribution to the economic development and diversification of the UAE, and support for the government’s strategic objectives and initiatives.

UAE Corporate Tax Return Filing Deadlines

According to Article 51 of the UAE Corporate Tax Law, a person who is liable to pay tax must submit his tax returns to the authorities following their instructions. The taxable person must file such a return within nine months from the end of the applicable tax period or on the date specified by the authority.

All businesses will have different due dates for filing their corporate tax returns depending on their financial year end. For ex. A Taxable Person whose Financial Year ends on 31 December must file and pay their Corporate Tax by 30 September of the next year. If they fail to do so, they will face a penalty.

The Taxable Person or someone who is authorized to act on their behalf, such as a tax agent or a legal representative, can submit the Tax Return.

If a Tax Group is established, the Parent Company is responsible for filing Tax Returns for the entire Tax Group. There is no requirement for each Tax Group member to file a separate return.

The following table shows the deadlines for filing and paying corporate tax in the UAE, based on different financial year start and end dates:


Conclusion

Corporate tax is a new and important development in the UAE tax system that affects all businesses operating in the country. It is essential to understand the corporate tax law and its implications and comply with the corporate tax obligations to avoid penalties and risks. By following this comprehensive guide, you can register and file for corporate tax in the UAE with ease and confidence.

How Farahat & Co. Can Help You with Corporate Tax Compliance in the UAE

Are you looking for a reliable and professional corporate tax consultant in the UAE? Do you want to comply with the new corporate tax law and avoid penalties and fines? If yes, then you need Farahat & Co., the leading tax consultancy firm in the UAE. Farahat & Co. has a team of qualified and experienced tax consultants who can help you with all aspects of corporate tax registration, filing, and payment. They can also advise you on the best tax strategies and solutions for your business, whether you operate in the mainland, offshore, or free zone. Farahat & Co. offers transparent and cost-effective services, and guarantees your satisfaction and peace of mind. Don’t wait, contact Farahat & Co. today. Farahat & Co. is your trusted partner for corporate tax compliance in the UAE.

Related Topics:

Business

LemFi, the trusted financial services platform designed for immigrants, has secured $53M in Series B funding led by Highland Europe

Published

2 days ago

on

January 20, 2025

By

LemFi, the platform transforming how immigrant communities access financial services, has raised $53 million in Series B funding led by Highland Europe with participation from previous investors Left Lane Capital, Palm Drive Capital, Endeavor Catalyst and Y-Combinator. The new round brings LemFi’s total capital raised to $85 million to date.

– LemFi is transforming how immigrant communities access financial services, starting with international remittance and payments to ease financial hurdles

– The platform enables diaspora communities in Europe and North America to move money reliably and affordably to emerging markets, including China, India, Kenya, Nigeria and Pakistan

– Since its launch in 2021, LemFi has grown to over one million customers and recently crossed $1 billion in monthly transaction volume

Founded in 2021, LemFi is building the trusted financial services platform for immigrant communities worldwide. Starting with payments and remittances, LemFi enables users to open multi-currency accounts and send and receive money globally, reliably and at a low cost. With over one million users across Europe and North America sending money to emerging markets, including India, Kenya, Nigeria and Pakistan, LemFi recently crossed $1 billion in monthly transactions. This is set to increase further, with LemFi adding Asia, including China, to its platform, growing 30% month-on-month.

More than remittance

Every year, millions of people relocate abroad to start new lives, and money transfers remain an important financial support mechanism to their home countries. For emerging markets, remittances are an important source of foreign exchange and can exceed foreign direct investment in some cases. In 2023, India alone received $120 billion in remittances, and the African remittance market is on track to reach $500 billion by 2035. Yet incumbent banks and private agents, which charge high commission rates and take days for transactions to complete, still corner about 60% of the market.

LemFi has become the trusted financial partner for diaspora communities in Canada, the UK and the USA, who send money home to 20 countries. After spending four years building trust among its user base, LemFi is now in the perfect position to provide further services and features to build a full-stack financial services hub for immigrants globally.

From payments to transforming financial services

LemFi’s founders Ridwan Olalere (CEO) and Rian Cochran (CFO) met whilst working at fintech unicorn OPay, incubated by Norwegian browser provider Opera. Olalere had previously worked in software development before becoming OPay’s product lead, where he met Cochran, the company’s finance director. After Olalere left for a stint as an Uber Country Manager, the duo combined their experiences across fintech and payments to build LemFi. They now oversee a 300+ strong multicultural team across Europe, North America, Africa and Asia, drawing on their own experiences to make financial services universally accessible.

Using the new funding, LemFi will focus on growing the company in three core areas: building out the platform to extend its financial services offering, scaling its payment network licenses and partnerships to provide hyper-localised service, and hiring talent globally to support its next growth stage.

Ridwan Olalere, co-founder and CEO of LemFi, said: “When we started building LemFi, we were told remittance had already been solved. But for too many people, it is still too slow, cumbersome and expensive with customers telling us that in some instances it was cheaper to send money from the US via Canada than directly to their families back home. By targeting the communities most in need, we’ve built LemFi into the go-to remittance service for one million people, supporting them in building wealth across 20 countries. We’re not stopping there: this new funding will support us in our mission to build the financial services hub for immigrants globally from adding new features to expanding to new countries. We’re delighted to be partnering with Highland to help us scale LemFi into a fintech giant.”

Sam Brooks, Partner at Highland Europe, said: “LemFi’s mission to provide trusted, reliable access to financial services for immigrant communities has inspired an incredibly loyal customer base and has generated impressive growth over the past several years. In addition to the success in initial geographies, we are excited by LemFi’s continuing international expansion given the extent of the global problem they are solving. Ridwan and Rian are fantastic leaders, and we are thrilled to partner with them and the LemFi team to help them scale and continue their growth into new markets.”

Continue Reading

Business

SuperHumanRace and CREDAI Maharashtra Join Forces to Launch Regional Emissions Inventories for Real Estate

Published

6 days ago

on

January 16, 2025

By

SuperHumanRace, a leading technology company specializing in data platforms at the intersection of climate and finance, and CREDAI Maharashtra, a premier body of real estate developers, have signed a landmark Memorandum of Understanding (MoU) to collaboratively develop and implement Regional Emissions Inventories for the real estate sector in Maharashtra.

At the launch event in Mahabalipuram, on Jan 06, 2025, Pramod Khairnar, President of CREDAI Maharashtra, talking about the MoU, shared, “The real estate sector in Maharashtra is at the forefront of India’s urban transformation. This initiative is a timely and essential intervention to ensure that development is environmentally sustainable while being economically viable.”

2024 was a landmark year for Indian real estate, with investments from institutional investors reaching an all-time high of USD 8.9 Billion; but according to the World Bank, India needs USD 50 Billion in private financing every year till 2036 to meet its urban infrastructure needs. India’s urban aspirations are at the heart of its ambition to become the 3rd largest economy by 2027 and reach USD 7 Trillion in GDP by 2030.

However, this rapid and large-scale urbanisation comes at a climate cost. By 2030, cities will contribute to 70% of the nation’s GDP and house 40% of India’s population while also contributing to well over 30% of India’s national emissions. As we add floor space equivalent to the city of Paris every week, building low-carbon, climate-resilient infrastructure will be an imperative both for the safety and well-being of Indian citizens and to raise funds from global investors.

The need to develop low-carbon built environments to meet our Nationally Determined Contributions under the Paris Agreement is hampered by the absence of sectoral, regional, or national baselines or benchmarks for real estate.

One of India’s prominent building physicists and Managing Director of SuperHumanRace, Aalok A. Deshmukh said that, “The initiative to develop Regional Emissions Inventories for the Real Estate value chain is a crucial step towards reliably quantifying and effectively addressing carbon risks associated with India’s burgeoning urban aspirations.”

The awareness and recognition of carbon risk is well understood by India’s most prominent and responsible developers. Ayashkanta Rout, Sustainability Lead at Oberoi Realty, mentioned that “carbon costs embedded in construction materials could raise project costs significantly, impacting profitability.” These carbon costs also impact the export competitiveness of the suppliers. For example, Maharashtra’s exports of construction materials like cement and aluminum could face additional tariffs in carbon-regulated markets, further underscoring the urgent need for reliable emissions data to drive strategic decision-making. Regional Emissions Inventories will:

* Enhance the global competitiveness of Indian real estate developers and construction material manufacturers by providing granular emissions data at the product, site, city, and state levels.

* Enable real estate developers to identify hotspots in their supply chains and adopt sustainable procurement practices.

* Prepare the sector for impending carbon taxes and regulatory measures as India transitions to a low-carbon economy.

* Foster investment in low-carbon technologies and green certifications, attracting climate-conscious investors.

Technology-Driven Implementation

It will be essential to integrate world-class, cutting-edge technology for this initiative to succeed due to both the volume of data and the complexity of relationships. SuperHumanRace will deploy advanced AI and machine learning algorithms to automate collection and analysis of emissions data across the real estate value chain; while providing actionable insights and benchmarks.

Deshmukh emphasized the role of technology: “This partnership is a game changer for sustainable urban development in India. By creating transparent, connected and actionable emissions inventories, we are empowering the real estate sector to proactively address carbon risks and drive global competitiveness.”

About SuperHumanRace: SuperHumanRace (SHR) is a pioneering technology company committed to transforming how organizations & countries ‘measure good’ and achieve the 1.5°C target that is essential for human survival on Earth. SHR’s sustainability platform, Green Dash is currently in use in 30+ countries by clients valued at over half a trillion dollars, including Oberoi Realty, Godrej Properties, K Raheja, JLL, Bosch, Capgemini, JLL, Tata Power, etc.

About CREDAI Maharashtra: CREDAI-Maharashtra is a State Level Federation and apex body of the organized Real Estate Developers / Builders across the State of Maharashtra (excluding Mumbai). The Federation represents 62 City Associations and over 3500 individual members.

Established in 1994, CREDAI-Maharashtra has been instrumental in promoting the interests of the Real Estate Sector and its members for over 27 years. It is an ISO-9001:2015 certified organisation, registered with the Charity Commissioner under the Public Trusts Act, 1950.

The Federation works closely with Government and Semi-Government agencies for policy formation for real estate in Maharashtra and discharges various Corporate Social Responsibilities directly and through its Members.

It is one of the founding members for CREDAI-National, which supports formulation of proactive policies for the Construction sector at National Level.

For further information, please contact:

Dwaipayan Aich

Chief Operating Officer, SuperHumanRace Email: coo@mysuperhumanrace.com Phone: +91 96019 66702

Darshana S. Ahirekar

General Manager, CREDAI Maharashtra Email: info@credaimaharashtra.org Phone: +91 97669 40867

Additional Notes for Editors

Macro-Economic and Export Competitiveness Implications

The initiative aligns with India’s commitment to becoming a $5 trillion economy by 2027 while meeting its Nationally Determined Contributions under the Paris Agreement. By equipping developers with precise emissions data, the program aims to:

* Enhance the global competitiveness of Indian real estate developers and construction materials manufacturers.

* Foster investment in low-carbon technologies and green certifications, attracting climate-conscious investors.

* Mitigate financial risks from carbon border adjustment mechanisms imposed by major trading partners like the EU.

Technology-Driven Implementation

SuperHumanRace will deploy its cutting-edge ESG data platform, leveraging advanced AI and machine learning algorithms to:

* Collect and analyze emissions data across the real estate value chain.

* Provide actionable insights through custom dashboards and benchmarks.

* Facilitate compliance with evolving carbon accounting standards and certifications.

This collaboration will also integrate dynamic emission factors to provide real-time updates, ensuring accuracy and responsiveness to market conditions.

India is set to become the third-largest construction market globally following China and the US. Estimates show that the industry is set to reach $1.4 trillion by 2025.

Data Sources (citations):

1. National Mission on Sustainable Habitat 2021-2030. Ministry of Housing and Urban Affairs, Government of India. Oct-2021.

2. MoEFCC. (2021). India: Third Biennial Update Report to the United Nations Framework Convention on Climate Change. Ministry of Environment, Forest and Climate Change, Government of India.

3. Present and future energy consumption of buildings: Challenges and opportunities towards decarbonisation. e-Prime – Advances in Electrical Engineering, Electronics and Energy 1 (2021) 100002. Santamouris, M. and Vasilakopoulou, K.

4. India to become third largest economy with GDP of $5 trillion in three years: Finance Ministry.The Hindu. 29-Jan-2024.

5. Real estate attracts $8.87 bn institutional investments in 2024: Report. Business Standard. 18-Dec-2024.

6. India’s urban infrastructure financing, needs and reality. The Hindu. 25-Nov-2024.

Continue Reading

Business

Dodla Dairy Adopts TecWork’s Web-Based QualityPro Software to Streamline Quality System Documentation

Published

1 week ago

on

January 14, 2025

By

Dodla Dairy adopts web based QualityPro software by TecWork, to track the documentation of quality systems, in a simplified manner reducing the dependencies on the usage of excel/word-based trackers.

About Dodla Dairy

Dodla Dairy Limited, headquartered in Hyderabad, was incorporated in 1995, and began production in 1998. With procurement spanning five states and products available across eleven states, Dodla Dairy is a trusted brand in India. Dodla Dairy, one of India’s leading dairy brands, known for products like curd, lassi, milk, ice cream, and paneer, operates across eleven states with over 5,000 distributors.

Need for a Solution

Dodla Dairy has been following all the quality management documentation efficiently and maintaining up to date records using the MS office-based applications like MS Word, Excel. Dodla dairy has taken decision to move Quality assurance related documents from the said applications in a phased manner to electronic formats as part of digitalisation.

QualityPro by TecWork: The Solution in Action

To make the digitalisation process easy and smooth, Dodla Dairy and QualityPro by TecWork joined hands. QualityPro provided digitalised modules for integrated Quality Management System that included SOP Document Management System, NC, CAPA processes which were currently manually managed through Excel/Word based Physical documentation. This system enabled automated workflows for review and approvals in place of the existing manual workflows, thereby simplifying the process.

Continue Reading

Business

Is ChooseApp India’s newest mobility disruptor? Compare & Book the Cheapest Cabs Now!

Published

3 weeks ago

on

January 2, 2025

By

ChooseApp the game-changing platform created by media professionals, is disrupting the mobility industry with 15,000 downloads in just 10 days. The App lets you instantly compare cab prices, wait times, and reviews across multiple services, making travel affordable, reliable, and stress-free.

From Frustration to Innovation: The Story Behind ChooseApp

Finding a ride at the right time and price has become a real challenge. With so many options and fluctuating rates, it can often be a frustrating experience. Meet the three individuals who didn’t just endure the frustration of finding reliable rides amidst the whole saga of rebookings and cancellations—they wanted to tackle this common problem, not only for themselves but for millions of others facing the same struggle.

Click on the link to download the app

Close friends, colleagues, and seasoned media professionals Shyameli Dutta, Nishant Sapkale and Vinita Nair have always thrived on creative storytelling through their production house, Box Office Entertainment. While they thrived in the media world, they faced a recurring challenge that most travelers can relate to: finding reliable, affordable cabs during their shoots.

With over a decade of experience producing television commercials, online advertisements, documentaries, and national TV shows, the trio has brought countless stories to life. But behind the scenes, another story brewed—one rooted in a common challenge. With tight budgets and large crews to manage during their travels for shoots, the trio often faced the frustrating challenge.

Vinita explains, “Traveling with large teams for shoots means managing tight budgets while ensuring everyone’s comfort and safety. But finding a dependable cab service was always a struggle. Prices varied, reviews were inconsistent, and hopping between multiple apps made it even more frustrating.”

As the trio shared their frustrations with friends and colleagues, they realized they weren’t alone. There was no single platform to compare prices, wait times, or availability across multiple ride-hailing services, especially when it came to local taxis.

Determined to fix this problem, the trio teamed up to create ChooseApp, a platform designed to simplify mobility by enabling users to compare fares, ETA, and reviews across all major ride services, including local taxis.

As Shyameli puts it, “ChooseApp brings all types of transportation together in one place. Whether it’s a city ride or an outstation trip, we’ve partnered with top cab services to ensure even those in smaller towns have multiple ride options. Our goal is to make travel affordable, reliable, and stress-free for everyone.”

Download the app, available on both iOS App Store and Android Play Store

The Origin of ChooseApp’s Name and Mission

Founded in 2024 in Mumbai, ChooseApp is the first of its kind in India, changing the way people move. The app is designed to offer affordable, reliable, and easy travel for every Indian—whether it’s booking a ride within the city, across cities, or to newer locations.

ChooseApp simplifies cab, auto, and bike bookings by empowering users to compare fares, wait times, and reviews across multiple service providers—all in one place. With just a few taps, customers can choose the most cost-effective, quickest, and trusted ride option that suits their needs.

ChooseApp has partnered with leading mobility players, including Uber, Ola, Gozo, Meru, Rapido, Namma Yatri, Savaari, and many others. Additionally, under its parent company, NVS Choose Cabs India Private Limited, ChooseApp is now a part of the ONDC network, further strengthening its aggregator ecosystem.

ChooseApp has also tied up with hyperlocal top delivery providers like Porter, Borzo, and others, offering future-ready parcel services. Now, users can compare and make better choices among delivery services with just a few clicks.

ChooseApp’s Impressive Growth and Future Potential

The phenomenal growth of ChooseApp has not gone unnoticed. Although it started out self-funded, the team is now seeking to partner with investors who share their ambitious vision to scale the app and revolutionize international mobility, beginning with an expansion into the UAE.

In an exclusive interview Nishant shares, “ChooseApp received an overwhelming response at launch. We hit 15,000 downloads in just 10 days on both the Play Store and App Store, with over 1,000 active daily users across India. Such growth inspires us to keep moving forward.”

And that’s not all—ChooseApp is launching an online web booking portal for users who prefer to book via browsers. This added accessibility will cater to users who either haven’t installed the app or aren’t tech-savvy enough to navigate mobile apps easily.

ChooseApp is also set to introduce a parcel delivery service within the app. Now, users will be able to compare and choose among India’s top local delivery service providers, including Porter, Borzo, and Shiprocket, all in just a few clicks.

Click on their website and download the app here – https://chooseapp.in/

Continue Reading

Business

SRAM & MRAM Group and Paradigm Pictures AD Ltd Announce Landmark Merger

Published

3 weeks ago

on

December 30, 2024

By

SRAM & MRAM Group Joins Hands with Paradigm Pictures to Redefine Entertainment

In an exciting move for the M& E industry, global conglomerate SRAM & MRAM Group announced its merger with renowned film production company Paradigm Pictures AD Ltd. The grand unveiling of this partnership took place at Warren House, marking the start of a unique collaboration that blends luxury, technology, and storytelling.

A Bold Vision for Entertainment

Dr. Sailesh L. Hiranandani, Chairman of SRAM & MRAM Group, and Mr. Arvind Dharmaraj, Chairman of Paradigm Pictures, were present at the event. This merger represents SRAM & MRAM’s entry into the entertainment sector, combining its technological expertise with Paradigm Pictures’ creative storytelling to introduce a new era of cinematic excellence.

The Power of SRAM & MRAM Group

SRAM & MRAM Group is a global leader running businesses in technology, finance, healthcare, energy, and infrastructure.

Dr. Hiranandani shared their ambitious plans, saying, “We aim to create a world-class film city that merges cutting-edge technology with top talent from Europe and the US to revolutionize storytelling.”

The Upcoming 50-Acre Film City

A key highlight of this merger is the proposed development of a state-of-the-art, 50-acre film city. Designed to be a global benchmark, the facility will include:

  • World-Class Studios: Advanced VFX facilities, along with top-notch dubbing and editing suites.
  • Luxury Preview Theatres: Five Dolby Atmos-equipped theatres for press screenings and exclusive previews.
  • Opulent Lodging: Ten premium resorts with private pools for celebrities and high-quality accommodations for film crews.
  • Recreation Spaces: Cafés, pubs, conference halls, and event venues for launches and celebrations.

Paradigm Pictures: A Force in Storytelling

At the event, Paradigm Pictures showcased its Cannes award-winning short film. Known for gripping stories like V1 Murder Case and Harkara, which achieved massive streaming milestones on Amazon Prime, the studio has firmly established itself in global cinema.

With seven projects in the pipeline, Paradigm Pictures continues to push creative boundaries, building impactful narratives that resonate with audiences.

Big Plans for Pan-Indian and Global Productions

The merged entity will kick off its first slate of five films once the film city begins construction. These projects, inspired by novels and real-life stories, will feature celebrated actors from across the globe and combine traditional storytelling with global filmmaking techniques.

The partnership also aims to expand into the European and American markets, showcasing talent on an international platform.

Collaborating on the Nordic Casefiles Trilogy

As part of the merger, the alliance with RingDance Entertainment will bring the Nordic Casefiles trilogy to life. This includes:

  • RUUD & MILD: Nordic Casefiles (Game): An interactive mystery-solving experience.
  • BIRD WHISPERER (TV Series): An exploration of Scandinavian crime stories.
  • PARISTAN (Feature Film): A gripping tale of a father searching for his missing son in Stockholm.

An Evening to Remember

The event was graced by dignitaries from BBC, Netflix, and associates of Oscar-winning director Danny Boyle. Awards were presented to honour contributions to technology, the arts, and sustainability.

A New Chapter in Global Entertainment

This merger between SRAM & MRAM Group and Paradigm Pictures marks a transformative moment in the entertainment industry. With innovative projects and a world-class film city in the works, the collaboration promises to captivate audiences across the globe.

Continue Reading

Trending