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.

Dubai launches a Unified Digital Platform to streamline business setup processes, backed by Sheikh Hamdan’s resolution to enhance the investor journey.

The Middle East’s economy and real estate sector are thriving, with substantial growth in the non-oil sector, notably in Saudi Arabia and the UAE, and the construction and real estate sectors playing a crucial role in reducing oil dependency.

Dubai’s new Law No. (1) of 2024 introduces a 20% tax rate for foreign banks, aiming to enhance fiscal governance and align taxation policies with global standards.

Dubai witnessed a decrease in annual inflation to 3.36% in February, driven by lower transportation and discretionary spending costs, alongside robust non-oil private sector growth.

The Central Bank of the UAE enhanced its financial oversight in 2023, conducting examinations across 181 institutions and imposing fines of AED 113.675 million for non-compliance with AML and CFT regulations.