Here Are the Top Reasons to Launch your Startup in the UAE

The UAE continues to support its economy to flourish more and more, and among its most prominent plans, which it started implementing several years ago and is still following in its footsteps, is to attract global startups. Here are the main reasons why the UAE is an ideal place to start your business.

Fast-growing Economy

The economy of the United Arab Emirates witnessed great prosperity that made it among the first ranks in terms of some economic indicators, as the increase in oil production and the recovery of oil prices contributed to giving the government more money to spend and stimulate the budget to make their land a focus for business, which helps entrepreneurs to develop their startups quickly.

Entrepreneur Visa

The Entrepreneur Visa is part of the Golden Residency System, which entitles entrepreneurs and their families to obtain permanent residency and unprecedented benefits. Therefore, this Entrepreneurs Visa is a prominent attraction factor that has contributed to attracting a huge number of entrepreneurs to conduct their business in the UAE and contribute to the prosperity of its economy.

Full Foreign Ownership of Companies

The UAE government has issued an amendment to the Companies Law to grant foreign investors full ownership of foreign companies. This means that the share of the foreign investor will not be limited to 49% as it was before, but it will reach 100% in most economic and industrial activities, without the need for a specific nationality requirement, in addition to that the foreign company wishing to open a branch in the UAE is not obligated to have an agent who is a citizen of the country.

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This article was previously published on UAE Moments.To see the original article, click here