The Dubai Executive Council meeting held last day has launched ‘Invest in Dubai’ a new platform that offers unique advice and tools to investors looking to set up a business in the emirate.
The largest one-stop-shop platform of its kind, Invest in Dubai website provides advice on a range of topics from securing a commercial license to where to set up a business. The platform was launched by UAE Vice President and Ruler of Dubai, Sheikh Mohammed bin Rashid, who chaired the council meeting.
“The confidence that international investors have placed in our emirate stems from its agile economy, solid legislative environment, and robust, investor-friendly infrastructure. Dubai is a city that is constantly renewing itself, offering a fertile growth environment for investors from across the world. It has created an integrated investment ecosystem powered by advanced technology and designed to support constant development, economic growth and efficiency.”
In the past few months, the UAE has introduced several regulatory changes with an aim to attract more investment into its economy and those include changes to its visa regime offering citizenship to qualifying investors and reforms to its commercial company ownership laws removing the requirement for onshore companies to have a local sponsor.
The new platform’s interactive feature ‘Dubai Business Map’ aids investors to search for opportunities within specific commercial zones and the city’s free zones. It also provides sector reports and statistics on foreign direct investment (FDI) as well as tools to search trade names and to obtain trade licenses for over 2,000 commercial activities, as per the Dubai government’s statement.
The website developed by Smart Dubai and the Dubai Department of Economic Development (DED), under the supervision of the General Secretariat of The Executive Council of Dubai enables potential investors to begin the process of setting up businesses by securing labor quotas, notarising contracts and gaining membership of the Dubai Chamber of Commerce and Industry, among other things.
‘Invest in Dubai’ has been put together with input from more than 20 local and government federal agencies including the Ministry of Economy, Dubai Police, The Roads and Transport Authority, Dubai Courts, Dubai Customs, the Department of Tourism and Commerce Marketing and Dubai Land Department, among others and it will be administered by DED.