This week the UAE launched a new visa offering and revealed more details of tax guidelines for companies operating in the country.
Meanwhile, probable dates for Ramadan were revealed, a major new transport system was announced, Microsoft revealed plans for a new AI centre in the UAE and more.
Catch up with the biggest stories this week, as selected by Arabian Business editors.
UAE announces new tax
The UAE has announced details of a new tax and clarified incentives and exemptions for payers.
The Ministry of Finance has announced the issuance of Cabinet Decision No. 142 of 2024 on the introduction of the Top-up Tax for Multinational Enterprises, providing further details on the UAE Domestic Minimum Top-up Tax (DMTT). This follows the announcement made by the Ministry on December 9, 2024.
The DMTT will apply to Entities that are members of Multinational Enterprises (MNEs) operating in the UAE with annual global revenues of €750m ($775m) or more in the Consolidated Financial Statements of the Ultimate Parent Entity in at least two out of the four financial years immediately preceding the financial year in which the UAE DMTT applies.
UAE announces launch of 10-year Blue Visa
The UAE is launching the 10-year blue visa with recognition for sustainability professionals.
The Ministry of Climate Change and Environment, and the Federal Authority for Identity, Citizenship, Customs and Ports Security (ICP) have announced the details of the launch of the first phase of the Blue Visa system in the UAE. The Ministry said that 20 sustainability thought leaders and innovators will receive Blue Visa in this phase.
The Blue visa is a 10-year residence visa designed for individuals who have made an exceptional contribution towards the environment’s protection and sustainability, both inside and outside the UAE.
Saudi Arabia megaprojects: 19 major developments transforming the kingdom
Saudi Arabia has introduced plans to construct multiple large projects to transform the country into a global economic centre.
These programmes, which require investments in billions, aim to move the nation’s focus away from oil, create jobs, and establish Saudi Arabia as a hub for commerce and visitors.
Here are 19 upcoming major projects that will contribute to the kingdom’s transformation.
UAE jobs: Why are employees ‘revenge quitting’? Dubai career experts weigh in
Employees are no longer resigning quietly but using their departures to make a statement—calling out workplace issues in company-wide meetings, sharing unfiltered exit interviews, and leaving behind detailed accounts of workplace conditions for leadership to confront.
“Unlike normal quitting, where someone recognises, they’re unhappy with how they’re being treated and simply looks for another job, revenge quitting is about making their frustrations known. It often involves a dramatic, abrupt, or ‘storming out’ exit to send a clear message that they are done,” Dubai-based career coach Zeta Yarwood told Arabian Business.
Dubai Loop: Stations, 100,000 passenger target, top speeds, everything you need to know about Elon Musk and RTA transport system
The RTA and TBC jointly announced they have entered into a Memorandum of Understanding (MoU) to bring TBC’s Loop system to Dubai.
The Dubai Loop will have a 17km pilot Loop transportation system as the initial phase of the project. The initial Dubai Loop pilot will have 11 stations and 17km of tunnel and will transport more than 20,000 passengers per hour, with the goal of ultimately expanding into Dubai Loop, a next generation underground transportation system throughout the Emirate.
Abu Dhabi announces new rules for UAE businesses without business premises
The Abu Dhabi Department of Economic Development (ADDED) has introduced new flexibilities to support business expansion and growth across the emirate.
New regulations now allow firms registered in other emirates of the UAE, and their respective free zones, to open branches within Abu Dhabi without requiring physical premises for the first year.
New Dubai smart index puts pressure on landlords ‘to improve maintenance and overall quality’: Experts
The comprehensive building classification system, launched last month by the Dubai Land Department, threatens to create a two-tier market that could squeeze out middle-class property investors and force extensive renovations across the emirate’s aging residential stock.
“Landlords in buildings with poor maintenance standards may face challenges such as reduced demand, higher vacancies, and declining rental yields,” said Jacob Fletcher, Head of Leasing for the Middle East at Engel & Völkers Middle East. “Some property owners are already pressuring building management to improve maintenance and overall quality.”
G42 and Microsoft launch AI foundation in Abu Dhabi
Along with the support of research partner Mohamed bin Zayed University of Artificial Intelligence (MBZUAI), the Responsible AI Foundation aims to promote responsible AI standards and best practices in the Middle East and Global South.
Inception, a G42 company, will serve as the institute’s program lead to help advance its mission.
Probable Ramadan 2025 start date announced
The start date for Ramadan 2025 has been announced.
The International Astronomical Centre announced on Thursday that most Islamic countries will observe the crescent of the Holy Month of Ramadan on Friday, February 28, 2025.
According to Mohammed Shawkat Odeh, Director of the Centre, the crescent may be visible by telescope in some parts of the Islamic world on that Friday.
Sharjah announces new tax
Sharjah has announced a new tax for businesses in the emirate.
Sheikh Dr. Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, has issued a law on corporate tax for both extractive and non-extractive natural resources in the emirate of Sharjah.
The law stipulates that companies engaged in extractive activities and those involved in non-extractive natural resources are subject to the tax specified in accordance with the provisions of this new Sharjah law.
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