Working in the UAE: What Tax & Finance Professionals Should Know

The UAE is among the most popular destinations for career individuals, especially in tax and finance. Having a strong economy, liberal business laws, and no personal income tax, it is no surprise that individuals are looking for tax jobs in UAE. Whether you are planning to relocate or already live here, there are a few things that every tax and finance professional should know about working in the UAE.

In this article, we'll study the fundamentals in simple language so that you can understand the local labour market, work culture, and law. If you're trying to acquire finance recruitment Abu Dhabi or see bigger opportunities in the UAE as a whole, this article is for you. 

1. Tax Climate in the UAE

One of the most attractive aspects for professionals in the UAE is its tax-friendly regime. The UAE does not have a personal income tax, which means you get to keep all your pay. But it does not mean that the UAE is tax-free.

The UAE has introduced new tax laws in recent years, including:

Corporate tax: A 9% charge on company profits above a certain amount from 2023.

VAT (Value Added Tax): 5% tax on services and goods, introduced in 2018.

Excise tax: Charged on unhealthy products like tobacco and fizzy drinks.

For those working in tax jobs in the UAE, this translates into the growing need for professional tax experts who understand local as well as international tax laws.

2. Opportunities to Work in Finance and Tax

The UAE, especially Dubai and Abu Dhabi, has become a hub of international business. The growth has witnessed a rise in work opportunities in various finance roles, such as:

• Tax consultants

• Financial analysts

• Internal auditors

• Risk managers

• Compliance officers

There is also a rising demand for professionals in digital finance tools as well as global reporting standards.

Particularly, Abu Dhabi finance hiring is facing increased demand as the capital city keeps attracting foreign investments, financial institutions, and government-supported projects.

3. Work Culture in the UAE

Working in the UAE may be a rewarding experience, but familiarity with the work culture is necessary:

Working week: The standard working week is Monday to Friday (as of 2022), with the weekend falling on Saturday and Sunday.

Office timings: 9 AM to 6 PM is common for most organizations, although government sector jobs might have shorter working hours.

Dress code: Business attire is the rule, especially in finance roles.

Language: English is spoken extensively within the office.

Cultural practices are respected. The UAE is cosmopolitan, and organizations have international standards as well as local practices.

4. Visa and Work Permits

To legally work in the UAE, you need an employment visa and a residence permit. Most companies take care of this for you. The visa is employer-specific, so you might have to renew your visa when you change jobs.

Many professionals moving for tax careers in UAE come under the company sponsorship category, but there are also freelance visas and golden visa programs for long-term residents and high-skilled professionals too.

5. Salary and Benefits

Salaries in the UAE are competitive, especially since there’s no personal income tax. On top of your salary, employers often offer:

• Housing or housing allowance

• Health insurance

• Annual flight tickets home

• End-of-service benefits

It’s common to negotiate your package, especially if you’re moving from abroad.

6. Career Growth and Development

The UAE values qualifications and international experience. Training and development schemes are offered by many companies. Having an ACCA, CPA, or CFA certification can enhance the chances of getting a job.

If you already work in finance or if you are looking for finance recruitment Abu Dhabi, even UAE experience will open up other international opportunities, especially in the Middle East and Asia.

Conclusion

The UAE is full of tax and finance career opportunities. With its thriving economy, tax-friendly environment, and strong job market, it's the perfect destination to advance your career. Whether you desire to source tax jobs in UAE or learn skills in a rapidly changing finance landscape, being up-to-date is step one to fulfillment.

Looking to advance the next phase of your finance career? Let Alchemy Search guide you.

We are finance recruitment Abu Dhabi and UAE specialists. Our experienced staff places skilled people with the region's top employers. Call Alchemy Search now, and we will help find your perfect tax or finance job!