The UAE is boosting its industrial sector with an extra USD 6.3 billion to become more self-sufficient and attract more investment.

The Federal Tax Authority (FTA) has reminded individuals with Corporate Tax licenses granted in January and February to submit their Corporate Tax registration applications by 31.05.2024 to avoid penalties.

Private sector companies in the UAE with more than 20 employees must comply with Emiratisation quotas to avoid significant financial penalties and operational disruptions, as outlined by the Ministry of Human Resources and Emiratisation (MoHRE).

Dubai has become a top destination for global offices, attracting companies and family businesses with its business-friendly environment and D33 agenda.

The UAE has introduced the Blue Residency, a 10-year visa for environmental supporters who have made efforts to protect the environment globally, as part of its sustainability initiatives for 2024.

The UAE’s new Bankruptcy Law, effective from 01.05.2024, introduces a specialized Bankruptcy Court and an Insolvency Unit, broadens liability provisions, and adds a preventive settlement mechanism to enhance the efficiency of bankruptcy proceedings.

The UAE is set to revolutionize its business licensing structure by introducing 10-year ‘golden’ licenses and 5-year ‘silver’ licenses.