The UAE is a popular destination for wealthy foreigners for a number of reasons.

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Many billionaires in the UAE are drawn to the country's zero income tax policy. As a result, people travel to the United Arab Emirates in order to safeguard and increase their wealth without having to pay high taxes on it.    The United Arab Emirates (UAE) provides a golden visa program that permits investors, entrepreneurs, and professionals to stay in the nation for an extended period of time. This effort has been essential in attracting skilled labor and funding from around the world.    Due to its strategic location at the crossroads of Asia, Africa, and Europe, the UAE can be quite alluring for investment. This is also important information for visitors planning meetings there.    UAE Offers  a lots of opportunities for ventures and investments. Under a stable political climate, the state of the United Arab Emirates can enjoy a sense of security and predictability, both of which are necessary for efficient long-term planning.     Countries that have seen the greatest growth in
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Private companies hired more local talent by 11% in the first quarter of 2023

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Private companie

The Ministry of Human Resources and Emiratisation (MoHRE) of the United Arab Emirates (UAE) announces excellent results in the hiring of Emirati talent on the regional labor market.

The number of Emiratis employed in the private sector climbed by more than 11% in the first quarter of 2023 compared to the same period in 2022, according to the authority. The number of businesses hiring residents climbed by almost 13%, the government announced on Wednesday.

The Nafis program was established by the UAE government as a measure to increase the national cadres' ability to compete for positions in private sector businesses. One of Nafis' top priorities is to equip Emiratis with the knowledge and abilities they need to find employment and forge academic and professional routes that will offer them with potential future prospects.

In the first three months of 2023, MoHRE organized more than 80 recruiting open days around the UAE to entice Emiratis to take advantage of the lucrative career prospects provided by the private sector.

In order to get assistance from the Nafis program, private sector businesses must enroll their Emirati employees in the UAE's pension and social security programs. Fines and penalties "based on relevant decisions, law and legislations" would be incurred if the Emirati personnel were not registered in the systems.

Employers are subject to fines, according to the General Pension and Social Security Authority (GPSSA), for each Emirati employee who is not registered with the GPSSA. They also "bear the responsibility of contributing on his/her behalf retroactively and paying the due contributions as per the employee's start date."

A punishment of Dh5,000 is imposed on each insured individual who is charged a percentage that is more than the required contribution percentage or who fails to pay any expenditures at all. A court order is immediately implemented to compel organizations to reimburse overpayments to their insured personnel.

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