The UAE government has officially clarified that Golden Visas are not available to cryptocurrency investors. In a joint statement released by the Federal Authority for Identity and Citizenship (ICP), the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA), it was confirmed that investing in digital currencies does not meet the eligibility…
Ras Al Khaimah Economic Zone (RAKEZ) has officially signed a Memorandum of Understanding (MoU) with Abu Dhabi Islamic Bank (ADIB), marking a strategic step to simplify banking for investors and accelerate business growth across the UAE. The partnership enables RAKEZ clients, including startups and SMEs, to open business bank accounts seamlessly while accessing tailored Sharia-compliant…
The UAE has officially expanded its Golden Visa program to prioritize individuals in Artificial Intelligence (AI), climate tech, and related innovation sectors, shifting away from its earlier focus on capital-based residency. “The UAE is now scouting for global talent that adds real economic value—not just capital,” said Gaurav Keswani, managing director of JSB Advisory. Dubai’s…
Sharjah Islamic Bank (SIB) has officially launched its “Millionaire Draw” campaign, starting July 1, 2025, to encourage sustainable saving habits across the UAE. The initiative offers generous monthly and seasonal prizes, including cash rewards up to AED 20 million and BMW luxury cars, to both new and existing savings account holders. Key Facts Campaign Start…
The Federal Tax Authority (FTA) has issued a strong appeal to corporate taxpayers who are yet to register for corporate tax, encouraging them to take advantage of the administrative penalty waiver initiative currently in place. Key Highlights of the Penalty Waiver Initiative Who It Applies To: Unregistered corporate taxpayers and certain exempt entities required to…
The Gulf Cooperation Council (GCC) has officially approved a Schengen-style unified tourist visa, paving the way for seamless travel across all six GCC member states. Implementation is expected “soon,” according to UAE Minister of Economy Abdulla bin Touq Al Marri. “The single [GCC] tourist visa has been approved and is now awaiting implementation. It’s with…