UAE Considers Issuing 10-Year Golden Business Licenses
The United Arab Emirates is considering issuing 10-Year Golden Business Licenses.
In order to attract more foreign direct investment and to strengthen the country’s business environment.
These licenses would have a validity of 10 years.
Which is providing greater stability for companies and encouraging them to invest for the long term.
Benefits:
- 10-Year Validity:
Offers long-term stability for companies and reduces the burden of frequent license renewals. - 100% Foreign Ownership:
Allows foreign companies to operate businesses in the UAE without the need for a local partner. - Employee Sponsorship:
Facilitates companies’ ability to sponsor employees from abroad. - Tax Exemptions:
Includes exemptions from value-added tax (VAT) and corporate income tax. - VIP Services:
Provides expedited visa processing and company formation procedures.
Requirements to Obtain Golden Business Licenses:
- The company must have a minimum capital of 10 million UAE dirhams.
- The company must employ at least 10 employees.
- The company must have a clean business record.
Impact of Issuing Golden Business Licenses:
- Attract More Foreign Direct Investment:
Golden licenses are expected to lead to an increase in foreign investment flowing into the UAE. - Boost Business Environment:
The licenses will contribute to improving the UAE’s business environment and making it more attractive to companies. - Create New Job Opportunities:
Increased investment will lead to the creation of new job opportunities for citizens and residents.
The International Society of Addiction Medicine (ISAM) praised the law regulating correctional and rehabilitation centers in #AbuDhabi which was issued by His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State “may God protect him”. pic.twitter.com/yf3ZsCkphM
— UAE Voice (@uae_voiceeng) March 26, 2024
Issuing 10-Year Golden Business Licenses is a positive step that will strengthen the UAE’s position as a global trade hub.
Mentioning that these licenses will provide greater stability and flexibility for businesses.
Which will make the UAE a more attractive destination for foreign direct investment.
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