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Business, tax and banking
Results: 25
Crypto reporting and CRS 2.0 in the UAE: in force from 2027, first exchanges in 2028, what is reported and the AED 20,000 fine for a false self-certification
The UAE has committed to implement the Crypto-Asset Reporting Framework (CARF) and the updated Common Reporting Standard (CRS 2.0), both from 2027 with first exchanges of information in 2028. Based on the official pages and guidance of the UAE Ministry of Finance and the OECD list, this article explains the scope, the information reported, the penalties and two examples.
Labour complaints and disputes in the UAE: 14 days to settle, ministry decisions up to AED 50,000, court fee exemption up to AED 100,000 and a one-year limit
In the UAE both the employee and the employer can complain to the Ministry of Human Resources and Emiratisation. The ministry has 14 days to reach a settlement; for claims below AED 50,000 it issues a final decision itself, and otherwise it refers the case to court. A worker is exempt from court fees for claims below AED 100,000, and no claim is heard after one year. Based on the official UAE Government portal page, this article explains the process, deadlines, the worker's obligations and two examples.
The Wage Protection System in the UAE (WPS): payment by the first of the month, at least 85 per cent through the system, and the escalating consequences of delay
In the UAE, private sector salaries must be paid through the "Wage Protection System": each month's salary falls due on the first day of the next month, and at least 85 per cent of it must reach the system on time. If payment is late, alerts start on the 2nd day, new work permits are suspended from the 5th day and a labour dispute is registered automatically from the 16th day. Based on the official UAE Government portal page, this article explains the rules, exceptions, the escalation table and two examples.
Worker protection insurance in the UAE: an alternative to the AED 3,000 bank guarantee, a cap of AED 20,000 and premiums of AED 105 to 250
For each worker, a UAE private sector employer either provides a bank guarantee of at least AED 3,000 or buys a worker protection insurance policy. The insurance covers unpaid wages for up to the last 120 days, the end-of-service gratuity, repatriation costs and treatment of work injuries up to a cap of AED 20,000. Based on the official UAE Government portal page, this article explains the cover, premiums, domestic workers, recovering the guarantee and two examples.
Compulsory unemployment insurance in the UAE: a premium of AED 5 or 10 a month, 60 per cent compensation for up to three months and an AED 400 fine
Employees in the UAE private sector and federal government must join the "unemployment insurance scheme": with a basic salary up to AED 16,000 they pay at most AED 5 a month, and above that at most AED 10. In return, if they lose their job for a reason other than resignation, they receive 60 per cent of their salary for up to three months. Based on the official UAE Government portal page, this article explains the conditions, exemptions, fines and two examples.
Work injury and occupational disease compensation in the UAE: treatment costs, pay during treatment, 24 months' compensation from AED 18,000 to AED 200,000
If a worker in the UAE is injured during or because of work or develops an occupational disease, the employer pays the treatment costs, pays full wages for up to 6 months and half wages for the next 6 months, and in case of permanent disability or death compensation equal to 24 months of basic wage, from AED 18,000 to AED 200,000, is paid. Based on the official UAE Government portal page and the text of the law, this article explains the conditions, exceptions, deadlines and two examples.
Working hours and overtime in the UAE private sector: 8 hours a day, 2 hours less in Ramadan, overtime at 25 or 50 per cent and a 144-hour cap
The UAE Labour Law caps normal working hours at 8 hours a day or 48 hours a week. Overtime is at most 2 hours a day and is paid at least 25 per cent more, and at least 50 per cent more between 10 pm and 4 am. Based on the official UAE Government portal page and the text of the law, this article explains breaks, Ramadan, work on the weekly rest day, the summer ban on work under the sun and two examples.
Emiratisation targets for private companies: 2 per cent a year for 50 or more employees, one hire a year for 20 to 49 employees, and financial contributions
The UAE requires private companies to raise the share of UAE citizens among their staff: companies with 50 or more employees by 2 per cent a year in skilled jobs, and companies with 20 to 49 employees in 14 sectors by one person a year. Those who miss the target pay a contribution for each unfilled place. Based on the official UAE Government portal page, this article explains the rules, amounts, the Nafis programme, pension registration and two examples.
Ending an employment contract in the UAE: 30 to 90 days' notice, dismissal without notice, leaving without notice and compensation for unlawful dismissal
In the UAE private sector either party may end an employment contract for a legitimate reason with 30 to 90 days' written notice. The law names ten cases of dismissal without notice and four cases of leaving work without notice, and caps compensation for unlawful dismissal at three months' wages. Based on the official UAE Government portal pages and the text of the law, this article explains these rules, disciplinary penalties and two examples.
Leave in the UAE private sector: 30 days a year, 90 days of sick leave, 60 days of maternity leave, 5 days of parental leave and other leave
The UAE Labour Law sets several types of leave for private sector employees: 30 days of fully paid annual leave, up to 90 days of sick leave on a pay scale, 60 days of maternity leave, 5 days of parental leave, and bereavement, study and Hajj leave. Based on the official UAE Government portal page and the text of the law, this article explains the conditions and pay of each type of leave and two examples.
Buying property in Dubai with a mortgage as an expatriate: 80% or 70% of value, 7 times income, 25 years and a 0.25% registration fee
The Central Bank of the UAE sets clear caps on mortgages for expatriates: a first home up to AED 5 million at 80% of value, above that 70%, a second home 60% and off-plan property 50%; a loan of up to 7 times annual income and instalments of up to 50% of income. Based on the Central Bank rulebook and the Dubai Land Department mortgage registration page, this article explains the ratios, the registration fee and two examples.
Buying off-plan property in Dubai: initial registration (Oqood) within 90 days, the 2 + 2% fee, the escrow account and loans up to 50%
In Dubai, off-plan units are registered in the Dubai Land Department's "initial register", and the project must be registered and have an escrow account. Based on the official pages of the Dubai Land Department and the Central Bank of the UAE rulebook, this article explains project registration, initial sale registration, fees, how money is released from the escrow account, loans and two examples.