‘Invest Dubai’ offers instant licenses and a whole library of information, as the emirate looks to diversify its ecosystem by attracting startups from across the world.
As part of its efforts to develop an eclectic ecosystem by attracting entrepreneurs from across the world, Dubai has announced a special new digital platform is to be launched that streamline the process of startups setting up shop in the emirate.
Covering some 2,000 commercial activities and license types, 'Invest Dubai' comes after November, 2020 abolished the need for a business to have a UAE national as a sponsor, opening the doors for foreign nationals to register businesses in Dubai.
In addition to licenses, the platform also aims to inform startups about all manner of information, including funding programmes. The platform will also allow startups to easily apply for the Dubai DED Instance License with no pre-approvals. Said to be issued in no more than five minutes, the license - open to limited liability companies, one person LLCs, sole proprietorship and civil companies - allows applicants to start a business without the need of a tenancy contract or bank account for a period of 12 months.
Dubai, and its neighbouring Abu Dhabi, have been making great efforts to diversify its entrepreneurial ecosystems. The move will no doubt strengthen Dubai's 'Ease of Doing Business' Score, which places the emirate in the top 20 in the World Bank's rankings.
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