UAE Announces New Assistance Measures for Companies and Employers

Updated on June 22,2018
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At the beginning of June, the UAE government announced a series of changes which are meant to improve significantly the business environment in the emirates. Abu Dhabi and Dubai were the first emirates to announce the measures which will be taken under the Abu Dhabi Vision 2030, respectively Dubai Industrial Technology 2030 programs. Foreign investors who want to do business in the emirates are invited to get in touch with our company formation agents in Dubai for assistance in registering companies.

The UAE Vision 2021 program to rely on knowledge

The two programs enabled by the emirates of Dubai and Abu Dhabi are part of a larger strategy created by the UAE government, which is called the UAE Vision 2021 which aims at transforming the country’s economy into a knowledge-based one.

Dubai was the first emirate to announce the measures which will be introduced starting with this year. The first one is related to the abolishment of the bank guarantee Dubai employers had to deposit until now when hiring new workers.

At a national level, the UAE announced the introduction of a 10-year visa system for professionals and investors in fields like:

  • -          research and development;
  • -          the medical sector;
  • -          science;
  • -          technology.

The other measures meant to ease the process of doing business in the UAE are:

  • -          no more government fees when registering a business in Dubai for the next 3 years;
  • -          20% of the Dubai government’s contracts would be assigned to small and medium-sized enterprises;
  • -          no more penalties for real estate developers failing to register the properties with the Dubai Land Register in due time;
  • -          hotel sales fees would be lowered from 10% to 7% in Dubai.

Our company incorporation advisors in Dubai can help you open companies in the UAE.

New measures to increase the UAE’s economic competitiveness at global level

At the moment the UAE ranks 21st in the Ease of Doing Business report issued by the World Bank, however, the government plans on reaching a higher position by improving the business environment while relaxing the company registration and hiring procedures.

Dubai is set on encouraging innovation and startups, which at the moment represent 40% of the Emirate’s GDP and employ 42% of the local labor force.

For complete information on how to start a business in Dubai, please contact our company registration consultants.