One of things that frustrate foreign investors setting up a business in Dubai is the time period required to obtain a commercial trade license so they can be able to start doing business in the Emirate. While the process of obtaining a commercial trade license in Dubai is smoother than other Gulf countries, foreign investors had to wait for a good time until their licenses were issued.
However, everything has changed thanks to Dubai 2021 Initiative and its Smart Government initiatives launched by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai.
Today, DED has announced the launch of 120-Day Business Licence initiative starting from May 15 this year. The new initiative allows foreign investors to start their businesses immediately and complete the rest of the licensing requirements, which includes approvals from other government authorities, within a 120-day period.
The Links Group is pleased to see such initiatives as this helps to attract more foreign investors to the country and provide more time for investors to think how best to protect their 49 percent business interest.
For more information about DED’s new licensing service, please check this article: http://gulfnews.com/business/general/dubai-ded-to-launch-120-day-business-licence-1.1326005.