The UAE’s Federal Tax Authority (FTA) has reaffirmed the importance of Corporate Tax registration for all natural persons conducting business in the country. If your total turnover exceeds Dh1 million in the 2024 calendar year or any subsequent year, you are considered a Taxable Person and must register for Corporate Tax by March 31 of the following year to remain compliant.

Key Compliance Requirements:

• Who Needs to Register? Any individual (natural person) conducting a business or business activity in the UAE whose turnover exceeds Dh1 million.
• Deadline for Registration: March 31, 2025, for those exceeding the turnover threshold in 2024.
• Corporate Tax Return Submission: Due by September 30, 2025.
• Penalties for Non-Compliance: Failing to register by the deadline will result in an administrative penalty of Dh10,000.

Registration Process:

• VAT or Excise Tax registrants can log into their EmaraTax account to submit their Corporate Tax registration.
• Once approved, a corporate tax registration number will be issued.

Businesses in the country must register for corporate tax on time to avoid paying penalties.

(Source: Wam)

Dubai has once again cemented its status as the world’s No.1 destination for Greenfield Foreign Direct Investment (FDI) projects, maintaining its leading position for the fourth consecutive year, according to the latest data from Financial Times Ltd.’s ‘fDi Markets.’

In 2024, Dubai attracted an estimated Dh52.3 billion ($14.24 billion) in FDI capital, marking a 33.2% increase from Dh39.26 billion ($10.69 billion) in 2023. This represents the highest FDI value recorded for the emirate since 2020, underscoring its appeal as a prime global investment hub.

The emirate also achieved a new milestone by recording 1,117 Greenfield FDI projects in 2024, the highest in its history. In total, Dubai announced 1,826 FDI projects, an 11% increase from 2023, reinforcing its ability to attract international investment. The influx of FDI generated 58,680 new jobs in 2024, reflecting a 31% increase from the previous year and further demonstrating Dubai’s role as a major employment driver.

Strategic Vision and Investment Leadership

Dubai’s consistent FDI growth is the result of strategic economic planning, spearheaded by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and supported by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai.

The city’s investment policies align with the Dubai Economic Agenda D33, which aims to double the size of the emirate’s economy by 2033 and position it among the world’s top three urban economies.

Sheikh Hamdan stated, “Dubai’s ability to sustain its No.1 global ranking in Greenfield FDI attraction is a testament to its strategic vision and investor-centric approach. Despite global economic challenges, Dubai continues to offer a stable, forward-looking business environment that fosters long-term growth and innovation.”

What is Greenfield investment?
Greenfield investment (GI) refers to a type of foreign direct investment (FDI) where a company establishes operations in a foreign country. The company constructs new (green) facilities (sales office, manufacturing facility, etc.) cross-border from the ground up.

A Global Investment Magnet

Dubai’s ability to attract international capital is driven by its world-class infrastructure, investor-friendly regulations, and strategic geographic position. In 2024, the city ranked third globally in terms of job creation through inward FDI, up from fourth in 2023, while maintaining its top ranking in the Middle East and Africa (MEA). Key sectors contributing to this growth include business services, software and IT, real estate, financial services, and industrial equipment.

For the third consecutive year, Dubai was ranked No.1 globally in attracting Headquarter (HQ) FDI projects, securing 50 major HQ investments in 2024 alone. The city also saw a rise in investments across advanced sectors such as artificial intelligence (AI), cybersecurity, and e-commerce, further strengthening its position as a global technology and innovation hub.

Investment Confidence and Market Leadership

Helal Saeed Almarri, Director General of the Dubai Department of Economy and Tourism (DET), highlighted the emirate’s resilience in attracting capital. “Dubai’s ability to continuously draw foreign investment amid evolving global economic conditions is a reflection of its strong governance, strategic planning, and robust business ecosystem.”

According to ‘fDi Markets’ data, Dubai led in Greenfield FDI projects across multiple industries, including financial services, real estate, and technology. The emirate’s share of global FDI projects in Advanced Information Technologies (AIT) increased from 7.3% in 2023 to 8% in 2024, reinforcing its leadership in the digital economy.

Key Investment Sources and Sectors

Dubai’s top five FDI source countries accounted for 63% of total investment inflows in 2024, with India leading at 21.5%, followed by the US (13.7%), France (11%), the UK (10%), and Switzerland (6.9%).

The top sectors attracting FDI capital included hotels & tourism (14%), real estate (14%), software & IT services (9.2%), building materials (9%), and financial services (6.8%). Meanwhile, the most active sectors in terms of FDI projects were business services (19.2%), food & beverages (16.5%), and software & IT services (14.3%).

Future Outlook: Sustaining Growth Amid Global Shifts

Dubai’s outlook for FDI in 2025 remains positive despite global economic uncertainties. The emirate is expected to maintain its strong investment momentum, particularly in high-tech and innovation-driven sectors. With an investor-friendly regulatory environment and a focus on long-term economic stability, Dubai continues to attract major private equity and sovereign investors.

As the city advances toward its ambitious economic goals, Dubai remains a global benchmark for investment excellence, economic resilience, and business-friendly policies. Its ability to consistently deliver on its strategic vision ensures that it remains a top destination for international investment, trade, and innovation in the years ahead.

(Source: Wam)

Dubai’s Roads and Transport Authority (RTA) has launched the next-generation 360 Services Policy, aimed at enhancing customer experience by providing integrated, seamless, and proactive digital services without requiring in-person visits. As part of its ongoing digital transformation efforts, RTA is shifting its services to self-service models, enabling customers to access them smoothly via shared digital platforms, such as the “Dubai Now” app.

Mattar Al Tayer, Director General, Chairman of the Board of Executive Directors of RTA, emphasised RTA’s commitment to developing a modern and smart service ecosystem that efficiently meets customer expectations. This drive aligns with the vision and directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, Ruler of Dubai, to enhance the quality of life in Dubai, positioning it as the world’s best city to live in, and establish it as the smartest city globally.

Al Tayer also attributed the development of the policy to the continuous follow-up and guidance of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, and Chairman of the Executive Council of Dubai. He highlighted RTA’s commitment to leveraging smart technologies to enhance its services and improve the customer experience. As a result, RTA has transformed its services into smart solutions accessible through various digital platforms, ensuring they are innovative, user-friendly, and easily accessible.

Al Tayer added: “RTA has completed Phase II of the ‘360 Services Policy,’ through which driver and vehicle licensing services had been transformed into fully digital, proactive, and integrated services. This phase, which accounts for 40% of RTA’s total services, has enhanced service efficiency, improved the customer experience, and raised the customer happiness index to 98.9%. It had also led to a 96% improvement in service accessibility, zero waiting time for 82 services, and the elimination of in-person visit requirements for 63 services. Additionally, service process steps had been reduced by 36%, while new digital options have expanded service availability by 61%. Digital adoption also surged to 96% in Q4 of 2024.

“In 2024, RTA collaborated with 32 partners from the public and private sectors to achieve service integration, leading to the enhancement of 71 services, which can now be accessed without prior requirements. RTA will embark on Phase III of the policy this year, which, according to the plan, will involve the development of all RTA services. This phase will further enhance the customer experience and contribute to achieving the targeted customer happiness indicators.”

( By- WAM)