As reported by the Federal Authority for Identity, Citizenship, Customs, and Port Security (ICP), over 236,000 foreign nationals took advantage of the opportunity to regularize their status. The visa amnesty program, which began on September 1, concluded on December 31, 2024.

Under the amnesty, individuals who violated UAE immigration laws were allowed to legalize their status in the country or leave without incurring penalties. As a result of the amnesty, more than 55,000 people received permission to exit the country.

Following the amnesty’s conclusion, authorities will resume inspections to identify visa violators, who will face deportation and inclusion in “blacklists.” Employers hiring individuals with invalid visas will be subject to fines ranging from 100,000 to 1 million dirhams.

The United Arab Emirates has introduced a system for VAT refunds for tourists who make purchases in online stores during their stay in the country.

The system is fully electronic, operating through a digital platform where tourists can scan their passports, make purchases, and automatically upload receipts (which can then be used to claim a VAT refund).

Notably, the system allows VAT refunds for all purchases, including those made online.

How it works:

The VAT refund process takes place after identity verification, either during delivery or upon completing the online order. A tourist who made a purchase in the UAE can apply for a VAT refund within 90 days of the purchase.

The maximum amount for a single cash refund is AED 7,000, while there is no upper limit for refunds processed to a card.

A tourist (or simply a non-resident of the UAE) must be of legal age and leave the UAE within three months of the purchase, taking the goods with them.

The VAT refund rules do not apply to aircraft crew members and do not cover VAT on yachts, cars, motorcycles, or airplanes. Additionally, VAT cannot be refunded if the goods were partially or fully consumed (used) within the UAE.

The Global Property Guide portal has published a ranking of housing price growth for the second quarter of 2024, in which the Dubai market ranked second with 16.75%. The ranking accounted for the inflation rate in each country. A total of 74 jurisdictions participated in the analysis.

Top 10 rankings:

• Egypt +16.74%;
• UAE (Dubai) +16.75%;
• Montenegro +16.59%;
• Israel +12.94%;
• Georgia +12.49%;
• Bulgaria +12.30%;
• Poland (Warsaw) +11.61%;
• Hungary +9.86%;
• Russia +9.81%;
• Taiwan +9.21%.

The largest annual decrease in prices, adjusted for inflation, was recorded in the following countries:

• Argentina (Buenos Aires) -71.61%;
• Jamaica -16.12%;
• Turkey -14.69%;
• Hong Kong (China) -14.12%;
• Macau (China) -13.62%;
• Luxembourg -13.43%.

The Federal Authority for Identity, Citizenship, Customs, and Port Security (ICP) has announced the extension of the visa amnesty program for two months, until December 31, 2024.

The visa amnesty program allows those who are staying in the UAE illegally to legalize their status or leave the country without penalties.

According to the ICP, those who continue to violate the rules after the program’s extension will face fines and additional measures, such as deportation and inclusion on “blacklists.” Companies that employ violators risk fines ranging from 100,000 to 1 million dirhams.

Educators will now be eligible for long-term residency under the “golden” visa, as announced by Sheikh Hamdan bin Mohammed Al Maktoum, Deputy Prime Minister and Minister of Defense of the UAE, as well as Chairman of the Executive Council and Crown Prince of Dubai.

The new visas will be granted to teachers who have demonstrated outstanding results and made significant contributions to the development of the private education sector.

Educators from private preschools, schools, and higher education institutions in Dubai will be eligible to apply for 10-year visas.

By Cabinet Decision No. 100 of 2024, changes were introduced to the UAE’s VAT collection system, as reported by the Federal Tax Authority. The amendments affect areas such as crypto-assets and investment fund management.

In particular, VAT exemptions apply to services provided by fund managers to licensed funds. These services include:

• fund operations management;

• investment management for the fund or on its behalf;

• monitoring and improving the fund’s performance.

In the field of cryptocurrencies, “the transfer and conversion of virtual assets, such as digital currencies” will be exempt from VAT.

The VAT changes regulated by Decision No. 100 also include a revision of export rules for goods and services and clearer definitions of supply-related terms. Charitable and government organizations will also receive VAT exemptions on certain donations worth up to 5 million dirhams.

The changes will come into effect on October 15.

The United Arab Emirates ranked third in the cryptocurrency friendliness rating compiled by the consulting company Henley & Partners. The new study assessed the society’s and government’s openness to digital assets.

Singapore took the top spot in the ranking, with its authorities actively promoting the popularization and adoption of technology among the population. Hong Kong came in second, distinguished by its developed digital infrastructure and liberal taxation of digital assets. Among the advantages of the UAE is the widespread use of cryptocurrency for transactions, including the ability to purchase real estate with it. The United States and the United Kingdom round out the top five.

The ranking includes a total of 28 countries.

4o

The UAE has speed up the processing time of documents required to obtain resident visas and work permits, now this time has been reduced from 30 to 5 working days. All thanks to the launch of the second phase of the Work Bundle platform.

The first phase was launched in March this year in Dubai, but it covers the entire country. According to the Ministry of Human Resources and Emiratization (MoHRE), about 600 thousand companies and more than 7 million residents of the country can already use the resource.

What services are available through the Work Bundle?

• In total, the platform combines the following services:
•  Issuance and renewal of work authorization;
•  Request for change of status;
•  Issuance of visa and labor contract;
•  Cancellation of visa, employment contract, work permit.