A substantial increase in trademark registrations in the UAE during the first quarter of 2024 points towards a thriving business environment and heightened investor confidence. The Ministry of Economy reports a 64% surge in trademark filings compared to the same period in 2023, with the total reaching 4,610. Industry experts view this surge positively. They attribute it to a growing awareness of intellectual property (IP) protection and a robust legal framework within the UAE. Sunil Ambalavelil, a legal consultant, emphasizes the importance of trademark registration for establishing brand iden ..read more

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& ..read more

In 2023, 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 Dhs233.4 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 f ..read more

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 ..read more

A Recent Study by Business Name Generator positions the United Arab Emirates (UAE) as a leading jurisdiction for launching a startup business in 2024. 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 ..read more

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 m ..read more

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 ..read more

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 ..read more

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 trad ..read more

The DIFC, under the patronage of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, hosted a roundtable discussion, DFS Dialogues, to collaboratively shape the agenda for the upcoming Dubai FinTech Summit on May 6-7, 2024, held at the Madinat Jumeirah, Dubai. This invitation-only session brought together over 30 key stakeholders from both the public and private sectors for in-depth discussions. The focus was on outlining key themes for the summit, with Regulatory Framework, Eco-Finance, and Fintech 2.0 emerging as prominent topics. “Dubai is a leading force in FinTech, disrupting ..read more