Buckscapital- UAE based Crowdfunding platform pre-launch website at Kochi

Buckscapital.com UAE based crowdfunding platform pre-launched its website before a group of media at Kochi. The functioning of the crowdfunding starts August middle of this year from UAE. Initially the activities limited to UAE, GCC countries and India. The entrepreneurs and investors can register their interest www.buckscapital.com

What is Crowdfunding?

 Crowdfunding is raising funds from multiple investors through a web-based platform or social networking site for a specific project, business venture or social cause. Crowdfunding is "the" alternative method for entrepreneurs, creative thinkers, and non-profits to get funding. In its basic form, it is the pooling together of small amounts of money from a group of people that share your passion and that you interact with online using social media. Everyone can use it without going to the banks or VCs, and the likelihood of getting funded is significantly higher.

There are four basic types of crowdfunding: Donation, Rewards, Debt and Equity. Each type is based on what the investor receives in return for funding a campaign.

 Donation -In this model, individuals make a financial contribution to a project without any expectations of financial benefits.

 Rewards - The investor receives a reward or perk in return for pledging. Common rewards include a thank you note, a branded t-shirt, or the product being funded (i.e., a pre- sale of the product).

Debt - Often called Peer-to-Peer (P2P) or Peer-to-Business Lending. The investor gives money in the form of a loan and receives profit in return.

Equity - The investor receives ownership in the company in return for their investment.

Buckscapital help the entrepreneurs to get the exposure for their projects and  potential investors to have a profitable platform for investment . Through this international crowdfunding platform, buckscapital.com aim to reform the global entrepreneurial environs by providing the wide network of investors and entrepreneurs. Buckscapital tries to build up a new standard of excellence in capital market, stands for your strong base for everlasting success.

 

UAE issues law against hate crimes and discrimination

The United Arab Emirates has issued a new law against any form of discrimination on the basis of religion, caste, creed, doctrine, race, colour or ethnic origin following a Decree by President His Highness Sheikh Khalifa bin Zayed Al Nahyan.The new law criminalizes any acts that stoke religious hatred and/or which insult religion through any form of expression, be it speech or the written word, books, pamphlets or via online media. The law also includes provisions for punishing anyone for terming other religious groups or individuals as infidels, or unbelievers.

The law is intended to provide a sound foundation for the environment of tolerance, broad­ mindedness and acceptance in the UAE and aims to safeguard people regardless of their origin, beliefs or race, against acts that promote religious hate and intolerance.

Penalties for violation of the various provisions of the law include jail-terms of six months to over 10 years and fines from Dh50,000 to Dh2 million.

The Anti-Discriminatory Law prohibits any act that would be considered as insulting God, his prophets or apostles or holy books or houses of worship or graveyards. It also has provisions to fight discrimination against individuals or groups on the basis of religion, caste, doctrine, race, color or ethnic origin.

The law condemns actions that would comprise hate speech or the promotion of discrimination or violence against others using any form of media, including online, print, radio or visual media.

Strict action will be taken against any form of expressions of hatred or incitement to hate crimes spread in the form of speech and published media.

The law also criminalizes any act that amounts to abuse of religion or vandalism of religious rituals, holy sites or symbols, and takes a serious view of violence on the basis of religious doctrines.

The law prohibits any entity or group established specifically to provoke religious hatred and recommends stringent punishments for groups or supporters of any organizations or individuals that are associated with hate crimes. It also bars any kind of events such as conferences and meetings within the UAE organized with the sole purpose of sowing seeds of discrimination, discord or hatred against individuals or groups on the basis of faith, origin or race. Receiving financial support for such activities is also punishable under the new law.The law encourages anyone involved in any activity that violates the law to voluntarily submit themselves before the authorities and has provisions allowing the courts to waive penalties in such cases.

The new law does not contradict with any other existing laws meant to protect specially privileged groups in the society such as women, children and individuals with disabilities or others.

New residence visas or Renewal of existing visa linked to medical insurance in Dubai

 With effect from August 1, 2015, no new residence visas or renewal of existing visa applications will be processed without mandatory health insurance coverage in Dubai.
This rule will apply to companies with 100 too 999 employees that fall in Phase II of the coverage.
However, companies that fall under the Phase III of the implementation that ends in 2016 will be exempted from this.
In Phase I of the implementation that ended on October 31, 2014 all companies with above 1,000 employees were covered. In Phase II that ends on July 31, all companies with 100 to 999 employees will be covered.
In Phase III that will end on June 30, 2016, all companies with 100 or below employees, spouses, dependents and domestic workers will be covered concluding the phased programme of mandatory insurance coverage in Dubai which is in line  Health Insurance Law No 11 of 2013 passed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.
The Chairman of the board of Dubai Health Authority, Humaid Mohmmad Al Qutami, said: “At the time that the law was introduced in November 2013, the insured population in Dubai was 1.1 million.

"Since the phased introduction, until now, an additional 1.2 million people are insured, bringing the total insured population in Dubai to 2.3 million. The second phase that ends on July 31 will insure an additional 600,00 people. This shows that employers are responding very well to the scheme. “

Employing a worker in UAE -Important things to know

Article 9
Work is deemed a right of the United Arab Emirates Nationals. Others may only work in the State in accordance with the conditions set forth herein and the decisions issued in application thereof.
Article 10
Should national workers not be available, the priority of employment shall be given to:
    The law: UAE labour contract termination
    UAE Labour Law: Disciplinary action

1 - Arab workers holding the nationality of an Arab State.
2 - Workers holding other nationalities.
Article 11
A National Employment Section shall be established in the Department of Labour and shall have jurisdiction to:
a - Find adequate job opportunities for nationals.
b - Assist employers in fulfilling their need of national workers whenever needed.
c - Register unemployed nationals or those searching for better job in a special register. Such registry shall be made upon their request, and the applicant shall receive gratis a certificate of such registration on the date of the submission of the application.
The registration certificate shall have a serial number and shall contain the name, age, place of residence, profession, qualifications and past experiences of the applicant.
Article 12
Employers may employ any unemployed national, and must in such event notify the Department of Labour thereof in writing, and such within fifteen days from the date of employment thereof. Such notification shall comprise the name and age of the worker, the date of employment thereof, the wage and type of work assigned thereto and the number of the registration certificate.
Article 13
It shall not be permissible to employ non-nationals in the United Arab Emirates without the prior consent of the Department of Labour and the obtainment of a work permit in pursuance of the procedures and rules stipulated by the Ministry of labour and Social Affairs.
Such permit shall not be granted unless the following conditions are met:
a - The worker must possess professional competence or academic qualifications needed in the country.
b - That the worker has lawfully entered the country and that he satisfied the conditions prescribed in the residence regulations in force in the state.
Article 14
The Department of Labour may not consent to the employment of non-nationals unless it examines the records thereof and ensures that there are no unemployed nationals registered in the employment section, capable of performing the required job.
Article 15
The Ministry of Labour and Social Affairs may cancel the work card issued to non-nationals in the following cases:
a - Should the worker remain unemployed for a period exceeding three consecutive months.
b - Should the worker no longer fulfils one or more conditions on whose basis the card is granted.
c - Should it show that a national worker is qualified to replace such worker. In such event, the worker shall remain in his position until the end of the contract term or the work card granted thereto, whichever is earlier.
Article 16
A special section for the employment of non-nationals shall be established in the Ministry of Labour and Social Affairs for the regulation of the work therein by a ministerial decision.
Article 17
No natural or juridical person may work as a medium for the recruitment or supply of non-national workers without a license therefore.
Such license may only be issued for nationals and in cases where the issuance thereof is deemed necessary. It shall be issued by a decision from the Minister of Labour.
Such license shall be for a period of one renewable year. The licensee shall be subject to the supervision and control of the Ministry. Said licenses may not be granted should there be an employment office affiliated to the Ministry or to the entity approved thereby operating in the region and capable of acting as a mediator in the supply of labour.
Article 18
Licensed labour mediator or supplier may not request or accept from any worker, whether prior or subsequent to his admission to employment, any commission or material reward in return for the acquisition of the work by the worker, or to charge the worker for any expenses unless as it is provided for or approved by the Ministry of Labour and Social Affairs.
Workers supplied by the employment mediator or supplier shall be deemed, upon their admission to work, workers for the employer. They shall be entitled to all the rights granted to the workers of the establishment where they work, and shall relate directly to their employer without any interference from the employment mediator whose task and relation with such workers shall end upon their supply to the employer and employment thereby.
Article 19
Rules, procedures and forms adopted by the public and private employment offices, the manner of coordination among the activities of such offices and the condition by virtue thereof the license for the establishment of employment offices or for the work as employment mediator or supply is granted, as well as the professional classification schedules adopted as basis of employment operations shall be determined by the decisions of the Minister of Labour and Social Affairs.

Source UAE Ministry of Labour