THE AUTHORITIES OF THE UAE ARE PLANNING TO INTRODUCE TWO NEW BUSINESS LICENSES

We are talking about 5-year and 10-year licenses for commercial activities in the country, the so-called "golden" and "silver" licenses.

They want to launch them as an instrument of profitability of the state and additional opportunities for economic development.

Emirati Minister of Economy Abdullah Ben Tuqa Al Marri and the Economic Integration Committee held the second meeting on the subject.

The initiative coincides with the main principles of the "We the UAE 2031" strategy - the United Arab Emirates should become a leading center of innovation.

The Committee discussed the progress of implementation since the first meeting, which was in February.

The Minister of Economy said that the UAE's leaders have successfully implemented the right and competitive economic policies and legislative framework, and created a favorable investment environment and business opportunities.

These innovations have opened up a wide range of opportunities for businessmen, investors and entrepreneurs from different parts of the world, leading to an increase in the number of companies operating in the United Arab Emirates to more than 788,000 by the end of 2023.

In addition, the country has witnessed an increase in foreign direct investment. Mr. Ben Touk emphasized: "The enhanced efforts of the Economic Integration Committee play a key role in enhancing the competitiveness of the United Arab Emirates' business environment."

In addition to providing business opportunities, the UAE government must monitor and control company reporting. And such measures are already being taken. In March, our specialists began to receive requests and assistance in preparing and maintaining financial and tax reporting. We are ready to support your business in the UAE:

• accounting reporting;
• opening an account for your company in a payment system with an Emirates license;
• opening a corporate bank account;
• obtaining a crypto license in the UAE;
• company registration in free-zones of the United Arab Emirates.

Contact our manager for a free consultation.