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Dubai’s 2024 International Property Show Gathers Leading GCC Developers For Investment Exploration

The 20th International Property Show (IPS) convenes in Dubai (February 27-29), positioning itself as a premier platform for Gulf Cooperation Council (GCC) developers to connect with a global audience of investors, homebuyers, and industry professionals.

Leading GCC developers like The Sustainable City (Oman), Saudi Arabian authorities, and United Development Company (Qatar) are confirmed participants. Atiq Al-Rahman, from Sawa United Company (Kuwait), highlights the event’s ability to foster connections and shape the dynamic GCC real estate landscape.

Beyond the GCC, nearly 40 countries will be represented, creating a global melting pot for collaboration. The booming GCC real estate market, projected to reach $4.55 trillion by 2024, presents a compelling opportunity, particularly in the residential sector with its anticipated growth and high demand for luxury properties.

In collaboration with the Dubai Land Department, IPS 2024 offers a diverse program including exhibitions, conferences, and focused sessions on topics like future cities, finance, and design. This multifaceted approach emphasizes the commitment to innovation and knowledge exchange within the real estate sector, providing unmatched exposure for exhibitors.

With over 10,000 expected visitors, IPS 2024 presents a unique opportunity for GCC developers to showcase their projects, connect with industry leaders, and explore investment possibilities on a global scale.

 

Publish 21 Feb 2024

Source: https://www.tradingview.com/news/reuters.com,2024-02-21:newsml_Zaw64STMJ:0-pressr-ips-2024-to-feature-top-real-estate-exhibitors-from-gcc-countries/

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The UAE Government Is Considering A Major Tax Incentive Program

The UAE Ministry of Finance (MoF) has initiated a digital public consultation to explore the potential implementation of a Research and Development (R&D) Tax Incentive program within the framework of the UAE Corporate Tax Law.

This consultation, open from April 19 to May 14, 2024, seeks valuable input from relevant stakeholders, including businesses operating in the UAE, tax advisors, service providers, academic institutions, and investors. The MoF aims to gain insights into the scope of R&D activities conducted within the UAE, determine the appropriate coverage of the potential R&D Tax Incentive, and establish efficient implementation and administration processes.

Recognizing the novelty of an R&D Tax Incentive in the UAE, the MoF has included a Guidance Paper as part of the consultation. This paper aligns with the definition of R&D outlined in the Organisation for Economic Co-operation and Development’s (OECD) Frascati Manual, providing stakeholders with a clear understanding of qualifying R&D activities.

The MoF encourages all participants to submit clear and concise feedback. They particularly welcome responses that incorporate supporting examples, data, or any other relevant information to strengthen their viewpoints.

The deadline for submissions is May 14, 2024. All responses will be treated confidentially and will not be publicly disclosed.

 

Publish 19 Apr 2024

Source: https://www.arabianbusiness.com/politics-economics/uae-considers-major-tax-incentive

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Dubai SME Fueled Growth In 2025 -2026 With Over Dhs500m In Support

In 2025, Dubai SME, a key department under the Dubai Department of Economy and Tourism, emerged as a powerful driver for the city’s small and medium enterprise (SME) sector. Their commitment to fostering entrepreneurial growth is evident in their annual report, which highlights a record-breaking Dhs500 million invested in incentives and services. This strategic investment signifies a clear focus on propelling SME growth and solidifying Dubai’s position as a hub for innovation and business development.

This strategic focus translated into tangible results. Dubai SME played a pivotal role in facilitating the launch of an impressive 2,937 new businesses in 2025 and 2026. This significant number demonstrates the organization’s success in fostering a supportive environment for aspiring entrepreneurs to turn their ideas into reality. Furthermore, Dubai SME recognized the importance of ongoing support beyond the initial launch phase. They provided essential guidance and support services to 1886 Emirati entrepreneurs. These services equipped these budding business owners with the tools and knowledge necessary to navigate the challenges and opportunities that come with establishing and growing a successful venture.

The annual report also sheds light on the impactful initiatives undertaken by Dubai SME. A cornerstone program, the Mohammed Bin Rashid Fund for SME, exemplifies their dedication to empowering entrepreneurs. This critical program directly contributed to the success of 16 projects in 2023 by providing Dhs11.8 million in funding. By fostering innovation and supporting promising ventures, the Mohammed Bin Rashid Fund for SME plays a vital role in propelling Dubai’s entrepreneurial ecosystem forward.

 

Publish 17 Apr 2024

Source: https://gulfbusiness.com/dubai-boosts-smes-growth-with-dhs233m-in-2023/

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FTA Unveils Taxpayer Charter Outlining UAE Tax Rights & Duties

The Federal Tax Authority (FTA) has implemented the Taxpayer Charter, a comprehensive document outlining the rights and responsibilities of taxpayers within the UAE tax system.

This initiative underscores the FTA’s commitment to transparency and clarity. The Charter aims to enhance taxpayer awareness and facilitate self-compliance with tax regulations.

Key Provisions of the Taxpayer Charter:

Taxpayer Rights: The Charter guarantees taxpayers fair, professional, and respectful treatment by the FTA. It ensures consistent application of tax laws, protects taxpayer privacy and confidentiality, and considers individual circumstances when dealing with the Authority. Additionally, taxpayers have the right to timely responses to inquiries, access to accurate tax information, representation by qualified professionals, and the ability to appeal decisions or lodge complaints.

Taxpayer Obligations: The Charter emphasizes the importance of full compliance with all applicable tax requirements. Taxpayers are obligated to provide complete and accurate information on a timely basis, cooperate with the FTA and its staff, and support the Authority’s efforts to deter tax evasion.

Enhancing Taxpayer Awareness:

The Taxpayer Charter represents one of several initiatives undertaken by the FTA to raise awareness about the UAE tax system. These initiatives include workshops led by tax experts, informative manuals and guidelines, and public clarifications published on the FTA’s website.

 

Publish 17 Apr 2024

Source: https://www.arabianbusiness.com/culture-society/uae-issues-taxpayer-charter-outlines-2024-tax-rules/

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The UAE Has Emerged As One Of The World’s Leading Destinations For Establishing A Startup Venture In 2026.

A Recent Study by Business Name Generator positions the United Arab Emirates (UAE) as a leading jurisdiction for launching a startup business in 2025 and 2026. The analysis assessed 52 countries across various factors critical to entrepreneurial success, including tax rates, cost of living, infrastructure, economic growth projections, and well-being.

The UAE secured the third-place ranking, demonstrating its attractiveness for new ventures. This placement is attributed to its competitive corporate tax rate of nine percent, the second-lowest among the analyzed nations. Additionally, the study forecasts a promising four percent GDP growth for the UAE in 2024, coupled with a high GDP per capita of $47,663, signifying a robust national economy that fosters entrepreneurial endeavors.

The streamlined business establishment process in the UAE is another noteworthy advantage. On average, it takes only four days to legally set up a company. Furthermore, the study indicates a reasonable monthly cost of living at $983.62 (excluding rent), contributing to the overall financial viability of launching a startup in the UAE.

While the UAE offers a compelling environment for entrepreneurs, the study also highlights contrasting realities in certain regions. The Philippines, Italy, and Brazil were identified as the most challenging locations to launch a startup due to factors such as high tax burdens and bureaucratic complexities.

The research also delves into aspects beyond pure economic considerations. Finland emerged as the nation with the highest happiness score for entrepreneurs, while India secured the top spot for affordability. These insights underscore the importance of a holistic approach when selecting a location for a startup venture.

 

Publish 15 Apr 2024

Source: https://www.arabianbusiness.com/gcc/uae/uae-politics-economics/uae-ranks-among-the-worlds-best-countries-to-launch-a-business-in-2024

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UAE & Saudi Arabia Lead MENA Growth Despite Oil, Unrest

The economies of the Middle East, particularly those of the United Arab Emirates (UAE) and Saudi Arabia, are demonstrating resilience in the face of oil production cuts and geopolitical tensions. This resilience is attributed to the robust growth of the non-oil sector in these countries.

A recent report by PwC Middle East highlights the positive performance of the non-oil sector in the UAE and Saudi Arabia. This growth is expected to continue, counterbalancing the anticipated contraction in the oil sector due to production cuts implemented by OPEC+ members.

The UAE has achieved a significant milestone in its economic diversification strategy, with the non-oil sector now contributing over 73% of its GDP. This achievement reflects the growing confidence of the private sector and international investors in the UAE’s business environment.

Saudi Arabia is making significant progress towards its Vision 2030 goals, which aim to diversify the economy and reduce dependence on oil revenue. The kingdom’s economic reforms and initiatives are fostering the development of key sectors such as technology, tourism, infrastructure, and property.

The report also emphasizes the growing importance of green finance in the region. The increasing issuance of green bonds and sukuk, particularly in the UAE and Saudi Arabia, demonstrates the region’s commitment to sustainability and its potential to attract foreign direct investment (FDI).

Disruptions to Red Sea trade routes have led to renewed discussions about establishing alternative trade corridors. While both the India-Middle East-Europe Economic Corridor (IMEC) and Iraq’s Development Road offer potential solutions, progress on these initiatives will likely depend on the resolution of ongoing regional conflicts.

 

Publish 07 Apr 2024

Source: https://www.khaleejtimes.com/business/uae-saudi-arabia-to-drive-regional-growth-despite-oil-cuts-conflicts

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TOKEN2049: Dubai to Serve as Host for Premier Crypto and Web3 Conference

TOKEN2049, a leading global conference series for the cryptocurrency and Web3 sectors, will convene in Dubai for a landmark event on April 18th and 19th, 2024. Scheduled to take place at the prestigious Madinat Jumeirah resort, the conference is expected to attract over 7,500 attendees, solidifying its position as a pivotal gathering within the global crypto community.

The conference boasts an impressive roster of confirmed speakers, featuring established figures from across the Web3 landscape. Among the notable names are Paolo Ardoino (CEO of Tether), Sandeep Nailwal (Co-Founder of Polygon), Arthur Hayes (Co-Founder of BitMEX), Roger Ver (Angel Investor and Founder of Bitcoin.com), Sergey Nazarov (Co-Founder of Chainlink), and Daniel Alegre (CEO of Yuga Labs). These luminaries represent just a portion of the more than 50 speakers slated to participate.

Expressing his anticipation, Alex Fiskum, Co-Founder of TOKEN2049, emphasized the significance of this regional expansion. Following the success of the Singapore edition, Mr. Fiskum highlighted the exceptional early response, with registrations already exceeding expectations. He anticipates a sold-out event and promised further exciting announcements leading up to the conference.

TOKEN2049 Dubai extends beyond traditional conference formats, offering a comprehensive experience. TOKEN2049 Week, encompassing the period from April 15th to 21st, will provide a diverse range of side events, workshops, and exclusive networking opportunities tailored to various interests within the crypto and Web3 ecosystems.

The conference has secured sponsorships from leading industry players, including BingX, CoinW, Zeebu, M2, TRON, and DWF Labs. These sponsors represent key stakeholders in cryptocurrency exchanges, marketplaces, and investment platforms.

Furthermore, TOKEN2049 Dubai will showcase a global contingent of exhibitors. Drawing inspiration from the success of the 2023 Singapore edition, which attracted over 300 exhibitors and 10,000 attendees, the Dubai event is poised to establish new benchmarks within the MENA region and solidify TOKEN2049s position as the preeminent global Web3 event series.

While the TOKEN2049 conference brings together industry leaders in Dubai (April 18th-19th), consider launching your crypto trading business with Smart Zones速 UAE. Their business setup consultants can guide you through the process.

 

Source: https://beincrypto.com/token2049-dubai-a-landmark-crypto-and-web3-event-set-for-april-2024/

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Dubai GameExpo Summit 2024 powered by PG Connects

Dubai is rapidly establishing itself as a leading center for Web3 gaming. This growth is fueled by a thriving community of game developers and substantial investments in cutting-edge technologies like blockchain and artificial intelligence. These advancements are poised to significantly impact the future of the gaming industry.

Building on the success of our San Francisco event, PG Connects in partnership with Dubai Economy & Tourism. Together, Bringing renowned games conference to the Middle East and North Africa (MENA) region, a market experiencing explosive growth in the gaming sector.

The Dubai GameExpo Summit 2024 powered by Pocket Gamer Connects, a two-day event held on May 1st and 2nd, will take place at the Dubai World Trade Centre alongside the larger GameExpo. Featuring an impressive roster of over 100 prominent speakers from the global games industry, the summit will encompass talks, panels, and seminars.

This year’s thematic focus centers on cutting-edge technologies like web3, artificial intelligence, and the metaverse, along with game business strategies, emerging trends (including esports within the MENA region), and the broader global gaming landscape.

 

Publish 27 Mar 2024

Source: https://www.blockchaingamer.biz/features/31243/gaming-mena-dubai-gameexpo-summit/

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The DHL Global Connectedness Report Ranks The UAE As The World’s Most Globalized Nation

The DHL Global Connectedness Report positions the United Arab Emirates (UAE) as the eighth most globalized nation globally. This ranking reflects the UAE’s impressive progress since 2001, demonstrating the most significant increase in connectedness among the 181 countries analyzed.

The report further highlights the strong connectivity of the Middle East and North Africa (MENA) region in trade, investment, immigration, and tourism. While Europe maintains leadership in trade and human mobility, and North America dominates capital and information flows, MENA holds a prominent second place in trade. This is attributed to factors such as the significance of oil trade, the growing influence of Gulf countries within trade networks, and the well-established ties between North African nations and Europe.

Employing a robust methodology based on nearly nine million data points, the report introduces a novel approach to gauge the depth of globalization. This metric utilizes a scale ranging from zero to 100 percent.

Despite ongoing global economic and political challenges, the report underscores the resilience of international flows. These flows have demonstrably outpaced domestic activity and expanded geographically.

The report also identifies a growing inclination towards international expansion. This is evidenced by the rise in announced greenfield foreign direct investment (FDI) and the increasing international sales figures of publicly traded companies.

The global travel sector exhibits a positive trajectory, reaching 88% of pre-pandemic levels. With a full recovery anticipated by the end of 2024, the Middle East stands out as a leader in this recovery. According to the UN World Tourism Organization, international arrivals in the region surpassed pre-pandemic levels by 23% in 2023.

 

Publish 02 Apr 2024

Source: https://www.arabianbusiness.com/politics-economics/uae-gains-top-spot-in-worlds-most-globalised-countries-dhl/

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Corporate Tax Registration in the UAE: A Guide to Deadlines

The Federal Tax Authority (FTA) has announced revised deadlines for corporate tax registration in UAE. This initiative, part of the FTA’s ongoing taxpayer awareness campaign, aims to ensure resident juridical persons established before March 1, 2024, comply with their corporate tax obligations.

Registration deadlines are determined by the date a juridical person’s license was issued. The FTA clarifies that companies with licenses issued in January or February, regardless of the year, must register for corporate tax by May 31, 2024.

For entities lacking a license on March 1, 2024, a three-month grace period applies. These entities must register for corporate tax by May 31, 2024, to remain compliant.

The FTA has established a comprehensive registration schedule based on license issuance month:

  • March-April issuance: Deadline June 30, 2024
  • May issuance: Deadline July 31, 2024
  • June issuance: Deadline August 31, 2024
  • July issuance: Deadline September 30, 2024
  • August-September issuance: Deadline October 31, 2024
  • October-November issuance: Deadline November 30, 2024
  • December issuance: Deadline December 31, 2024

 

Publish 30 Mar 2024

Source: https://www.khaleejtimes.com/uae/uae-corporate-tax-know-about-registration-deadlines/

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