Emiratis have to be hired by private companies in the UAE or else they will be fined 6000 dirhams monthly. Every year the fine will gradually increase by 1000 dirhams and can approximately raise to 10,000 dirhams per month, in the next 5 years. Starting January 2023, Emiratis will have to be hired in highly skilled jobs as per the new UAE cabinet decision.
The cabinet has approved increasing the Emiratisation (number of Emiratis hired) rate to 2% per year for private companies which employ 50 or more workers. The quota for banks has been mentioned at 4%. The quota is 5% for insurance companies which employ 50 or more workers. This is aimed to create around 15,000 job opportunities for Emiratis in diverse sectors, per year and the move is in line with the government's NAFIS initiative.
The benefit for compliant companies is that the government will be giving them an incentive in the form of a reduced rate in fees of up to 80% at the Ministry of Human Resource and Emiratisation.
Another benefit that the government is giving is a 5-year government-paid contribution on the company's behalf against the cost of pension plans for Emirati Employees. The main aim behind this decision was to support the Emirati talents throughout the private sector and increase private sector jobs for them by 10% within the next 5 years.
Other than this the government has also launched multiple programs for Emiratis in the private sector in form of the Emirates salary support scheme which will provide up to 8000 dirhams per month for a year to UAE citizens who want to go take training and also monthly support of 5000 dirhams for 5 years for all the Emirati university graduates.