Tax, Accounting & Compliance

Opening a UAE business bank account for a tech or digital asset company means navigating strict KYB and AML review. Innovation City Free Zone connects founders to 5 approved banking partners, with digital-first banks approving straightforward applications in 2 to 4 weeks. Banks typically require 6 to 12 months of statements, and records must be kept for 5 years.

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 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.

The UAE Corporate Tax return deadline is 30 September 2026 for businesses with a 31 December 2025 year-end, nine months after financial year-end as required by the FTA. Filing applies even at zero profit or loss. Miss it, and penalties start at AED 500/month (months 1-12), rising to AED 1,000/month after, plus 14% annual interest on unpaid tax.

The UAE Central Bank Law, Federal Decree-Law No. 6 of 2025, came into force on 16 September 2025 and introduced a one-year transitional period for affected businesses. With the deadline falling on 16 September 2026, fintechs, payment providers, insurers and qualifying technology businesses face an important compliance review. The law also expands the CBUAE regulatory framework through provisions including Article 62.

FTA Public Clarification CTP010 has clarified how founder salaries, executive compensation, and board fees are treated under UAE Corporate Tax. Directors and Officers are classified as Connected Persons, meaning all remuneration must satisfy the arm’s length principle. Businesses must ensure compensation reflects genuine market value, maintain supporting documentation, and meet disclosure obligations to avoid Corporate Tax adjustments and compliance risks.