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.

The DIFC Courts handled more and larger cases than before in 2023, with the main court settling 111 cases worth AED 16.5 billion.

Dubai has once again shown itself as a leader in digital innovation by attracting nine multinational companies, worth more than AED 304 billion.

Compliance is key to a successful operation in Dubai, requiring strict adherence to local laws to avoid serious legal consequences.

The UAE’s Federal Tax Authority has released a comprehensive guide on Corporate Income Tax for partnerships, detailing taxation rules, compliance, and reliefs to ensure proper adherence to tax laws.

Strong performances in both the non-oil and oil sectors, alongside the introduction of a corporate income tax, are expected to drive the UAE economy to grow by 5.2% in 2025.

The UAE’s Federal Tax Authority has made significant improvements in the issuance of tax certificates, streamlining processes to enhance efficiency and user experience.