What is the concept of Emiratisation?
Emiratisation, the strategic initiative to increase Emirati employment within the UAE's workforce, is a key focus for businesses operating in the country. With the UAE government's stringent regulations and penalties for non-compliance, understanding and adhering to Emiratisation requirements is crucial for businesses of all sizes.
Emiratisation Targets and Regulations:
The UAE government has set clear Emiratisation targets for both large and small enterprises:
- Companies with 50 or more employees: Must achieve a 6% Emiratisation rate by the end of 2024, with a gradual increase to 10% by 2026. Non-compliance results in significant financial penalties. (Source: The Official Portal of the UAE Government)
- Companies with 20-49 employees: Mandated to hire at least one Emirati employee by 2024, increasing to two by 2025. Failure to comply leads to financial contributions. (Source: MoHRE: Ministry of Human Resources & Emiratisation)
Key Challenges and Opportunities:
While Emiratisation presents challenges, it also offers opportunities for businesses to tap into a skilled Emirati workforce:
- Talent Acquisition: Finding qualified Emirati candidates can be competitive. Consider partnering with recruitment agencies specializing in Emiratisation.
- Training and Development: Invest in comprehensive training programs to equip Emirati employees with the necessary skills for success.
- Mentorship and Career Progression: Create a supportive workplace culture that fosters growth and development for Emirati talent.
- Compliance and Documentation: Maintain accurate records of Emiratisation efforts to ensure adherence to government regulations.
Affinitas DMCC: Your Partner in Emiratisation Success
Navigating the complexities of Emiratisation can be daunting. Affinitas DMCC offers comprehensive HR solutions to help businesses achieve their Emiratisation goals:
- Compliance Support: Ensure your business adheres to all Emiratisation regulations and documentation requirements.
- Accounting Services Tax consultancy and accounting services are what we do best. We provide tax consultancy and accounting services throughout the UAE to individuals, small & medium sized businesses and corporate entities.
- Tax Advisory: Tax Minimization across multiple jurisdictions
- Private Equity Advisory Service: Mergers, Acquisitions, and Investments in International and Emerging Markets are Cornerstones of Affinitas’ Expertise
Contact Affinitas DMCC today to discuss your Emiratisation needs and explore how we can support your business.