The United Arab Emirates announced today that it will transition to a four and a half day working week, with Friday afternoon, Saturday and Sunday forming the new weekend.
The new working week will commence January 1, 2022, across the federation of seven emirates (Abu Dhabi, Ajman, Dubai, Fujairah, Ras Al Khaimah, Sharjah and Umm Al Quwain) that make up the UAE.
Currently the working week is Sunday to Thursday.
“This is a major cultural, societal and economic shift that can be expected to provide a massive boost for the UAE economy,” said Nigel Green, the CEO and founder of Dubai-headquartered financial advisory, asset management and fintech firm deVere Group .
The UAE, and in particular Dubai and Abu Dhabi are already recognised as two of the most powerful business and financial hubs in the world by international investors who are lured by the incredible possibilities offered in terms of finance, trade and commerce, plus the famous ‘can do’ attitude and the low tax environment in these destinations, he said.
The news follows the rollout of new legislation in which the UAE will allow 100% ownership of businesses for foreign nationals from December 1, 2020. Previously, all businesses were required to have a UAE citizen sponsor.
Green said the appeal of the UAE has just sky-rocketed further due to the reform of the business ownership law.
