On 8 July 2026, the FTA issued Directive No. 2 of 2026, clarifying VAT obligations after a company exits a UAE Tax Group. Effective 1 August 2026, the rule is clear: former members, not their old Tax Group, must report post-exit adjustments on previously declared supplies and recovered input tax in their own VAT returns. Here’s what changed, and what it doesn’t.
FTA Directive No. 3 of 2026, effective 1 August 2026, changes how UAE businesses calculate VAT on crypto payments. Instead of picking any exchange rate, businesses must now average rates from three FTA-approved platforms at the time of supply. It’s one of five VAT directives the FTA issued in July 2026, part of a broader push to standardize digital asset tax treatment across the UAE.
UAE supply chain localisation is accelerating in 2026. The UAE PMI hit 55.3 in August, up from 52.7, as businesses shifted to domestic suppliers at their fastest pace in nearly three years and built inventory just as quickly. Backing that demand, the government launched an AED 1 billion National Industrial Resilience Fund in April 2026, managed by Emirates Development Bank.
Setting up in Innovation City Free Zone takes just 7–15 working days, fully remotely, with licence packages starting at AED 6,600/year. Built for AI, Web3, and digital asset founders, it offers 100% foreign ownership, over 1,500 licensable activities, and a blockchain-based digital business identity for every company. Here’s the complete step-by-step setup guide, costs, and requirements.
UAE Open Finance is a regulated financial activity. It falls under Article 61 of Federal Decree-Law No. 6 of 2025, the UAE Central Bank Law. The Central Bank of the UAE (CBUAE) runs the framework through three parts: an API Hub, a Trust Framework and Common Infrastructural Services. These let banks, finance companies and licensed…
UAE Open Finance is a regulated financial activity under Article 61 of Federal Decree-Law No. 6 of 2025. The CBUAE runs the framework through an API Hub, Trust Framework and Common Infrastructural Services, letting banks, finance companies and licensed fintechs share financial data and start transactions with a customer’s consent. Most providers need CBUAE approval before operating.
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