UAE Mulls Over A 10-years Golden Business License
Proposed long-term business licenses will boost the economy and instill confidence among investors.
During the inaugural annual meeting, the Economic Integration Committee deliberates on a proposal to launch 10-year, 5-year commercial licenses. The initiative aims to bolster government revenues, sustain business operations, and help promote economic growth and prosperity of business activities.
The committee considered introducing new rules for trade and business operations in the UAE, which include the issuance of a competitively priced five-year silver license and a 10-year golden license.
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By aligning with: We the UAE 2031 vision, this move is designed for short-term gain and long-lasting economic success. Attended by key economic leaders, the committee's meeting underscored the UAE's commitment to fostering a flexible and competitive business ecosystem.
As the Arab world’s second-largest economy, the UAE has fostered a positive business environment, attracting global entrepreneurs and investors through various policies and legislation. This has led to a significant increase in companies and foreign investment, strengthening the national economy.
These developments have unlocked diverse opportunities for businesses, investors, and entrepreneurs from around the world, leading to a rise in the number of companies operating in the UAE to over 788,000 by the end of last year, according to the Minister of Economy Mr. Abdulla Bin Touq
The Economic Integration Committee has proposed policies to expedite business procedures, enhance investor appeal, and create a comprehensive company database using advanced technologies.
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The UAE economy is expected to grow by 5% this year, driven by a robust expansion in the country's non-oil sector and an increase in foreign direct investment.
The country has also set an ambitious target of attracting AED550 billion ($150 billion) in foreign investment by 2031 and ranking among the top 10 countries globally to attract Foreign Direct Investment, as part of its diversification strategy.
Stay ahead of the game and make your mark in a thriving economy. Take the possibilities, and get ready for a brighter future with the UAE's golden business license opportunity!
With Business Link collaboration, you can pave the way toward 2031 with prosperity and success! Join the conversation and let us know how these new licenses can help you scale up!