Insights

The Central Bank of the UAE's Sandbox Conditions Regulation aims to attract start-ups and fintech companies by allowing them to test innovative services without a license for a limited time, provided they comply with mandatory regulations and plan to launch in the UAE.

While addressing climate change, Singapore is adhering to the regulations of Environmental, Social, and Governance (ESG) that serves as a framework largely used to assess a company’s environmental footprint, social contribution, and governance standards within the community.

The United Arab Emirates has introduced a new Emiratisation rule for companies employing between 20 and 49 staff members. This important change aims to reinforce the local workforce and support economic inclusivity. Effective immediately, these firms are required to have at least one Emirati national among their employees.

Following the second year of Sustainability, the UAE launches a new long-term residency visa — Blue Visa. The UAE government has made a respective announcement this year on May 15.

After two years of enhanced efforts to address vulnerabilities in the UAE’s policy towards countering financial crimes the country has officially been removed from the FATF’s grey list as of February 2024.

With the implementation of the UAE Corporate Tax, certain small businesses are eligible to apply for tax relief until the end of 2026.

The complexity of achieving compliance varies depending on the size and scope of an organisation, as well as the countries in which it operates. Each country has its own set of rules that are subject to frequent updates and vary significantly, and it’s management’s responsibility to ensure their companies are compliant in all their countries of operation.

Bitcoin has experienced a significant increase of nearly 160% since October, with 44% of the growth occurring in February alone, and its rate continues to set new records, surpassing the all-time high of $68,999.99 in November 2021. This surge comes in stark contrast to the previous year when the market faced an 18-month crypto winter marked by corporate bankruptcies and scandal.

In January 2022, the UAE Ministry of Finance announced plans to introduce a federal Corporate Tax (CT) on businesses' net profits. Thus, the UAE is pursuing the following goals: