Sheihk Hamdan bin Mohammed approves AED1 billion in economic incentives during Dubai Executive Council meeting.
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum chaired a meeting of “The Executive Council of Dubai that approved major initiatives to boost Dubai’s economy, support society, and improve workforce conditions.
Key decisions:
- AED 1 billion economic stimulus to ease financial pressure on businesses and individuals, including fee deferrals and easier residency processes.
- Strong economic performance: Dubai’s GDP grew 6.4% in Q4 2025 and 5.4% for the year, reaching AED 937 billion, alongside a new, more comprehensive GDP measurement system.
- Virtual Warehouses Initiative: Simplifies imports (especially high-value items like artwork), removes duties temporarily, and enhances tracking—strengthening Dubai’s role as a global trade hub.
- Dubai Empowerment Strategy: Supports Emirati families through job creation, entrepreneurship, and partnerships to improve living standards and financial stability.
- Workers’ Health and Safety Strategy: Aims for full compliance and access to essential services in worker accommodations by 2033.
Benefits:
- Supporting businesses with financial relief, easier regulations, and improved trade opportunities
- Helping individuals through job creation, entrepreneurship support, and better living standards
- Protecting workers with improved housing, safety standards, and access to essential services
- Strengthening the economy by boosting growth, investment, and global competitivenes
Overall impact
These initiatives driven by The Executive Council of Dubai—help create a more resilient, inclusive, and future-ready economy, benefiting businesses, citizens, residents, and investors alike.
Chrysalis remain confident in our continued progress and future outlook. Through strategic initiatives, resilience, and collective effort, we are well-positioned to navigate challenges and capitalize on emerging opportunities.
Let us maintain our focus, uphold high standards of excellence, and continue working collaboratively to drive sustainable growth and long-term success.
Note: We will revert soon with comprehensive details on funding allocations and implementation timelines.
#corporatetaxuae #uaetax #taxlawuae #taxreturn #taxfiling #corporatetaxregistration #taxfile #taxapplication #freezone #taxrate #ministryoffinance #taxlaw #corporateincometax #conductbusiness #emiratelevel #businessesintheuae #taxableprofits #capitalgains #taxreturn #cumentationrequirements #taxableperson #taxcredits #oecdbaseerosionandprofitshifting #taxableincomeaboveaed375,000 #qualifyingpublicbenefitentity #unitedarabemiratesuae #extractivenaturalresourcebusiness.
Want to set up a business in the UAE? Calculate your business setup cost today!