Did You Know?

The dirham is pegged to the US dollar, so prices in dirhams move with the dollar against other currencies.

Hours are 7:30 am to 3:30 pm Monday to Thursday and 7:30 am to 12 noon on Friday. The four-and-a-half-day week began on 1 January 2022.

Corporate tax applies to financial years starting on or after 1 June 2023.

Exports outside the GCC VAT area and the first sale or lease of a new home are zero-rated. Some financial services, and later sales and leases of homes, are exempt.

Federal Decree-Law No. 26 of 2020 allows full foreign ownership of mainland companies, from early 2021. Activities with a strategic impact, listed by the Cabinet, can still carry ownership limits or need approval.

Off-plan property counts if it is bought from an approved developer. Golden Visa holders need no sponsor.

Each year after the fifth earns 30 days' basic pay, up to two years' pay in total. Annual leave is at least 30 days a year, and notice is 30 to 90 days.

Interest then follows the market rate at the time of the deal, and interest on interest is not allowed. The rule is in the Commercial Transactions Law of 2022.

Men made up 64% of the population and women 36%, according to the Federal Competitiveness and Statistics Centre.

Freight trains serve 11 terminals and 4 major ports, and passenger services launch in phases from 2026.

That made the UAE the fifth country to reach Mars.