The first half of 2018 saw several major changes in UAE’s trade, immigration, and legal reforms. So far, the major decisions approved by UAE cabinet include 100% foreign ownership of Mainland LLC, Residency Visa extension for up to 10years, Social Media Influencer and Freelance Licenses in UAE and exemption of all license renewal fines for defaulter companies in Dubai till the end of 2018.
The most recent addition in UAE’s legislation unfolded into 26 new business activities approved by DED, in efforts to promote business development, healthy competition and allowing investors to respond to market needs more accurately. The addition will also enhance the supply of specialized activities to vital sectors in UAE’s local market and strengthen UAE’s economic stronghold in the business setup domains of the Middle East
The activities have been specifically picked to nurture distinct business sectors and facilitate participation of expat entrepreneurs through a wide range of business opportunities such as rental of alarm and surveillance equipment, grease trap cleaning and waste collection services, evaluation services center, endowment trademark support services management and allied services, media monitoring services, emergency response center, hot air balloon trade and satellite industry.
Director of Business Registration in BRL, Waleed Abdul Malik said while revealing his market research on the new sectors,
“Our team is constantly evaluating market needs, gathering views and suggestions from license holders as well as those looking to start their business in Dubai where there are always changes and new developments”
He added that the move will act as an extension of Dubai’s ongoing efforts in facilitating LLC formation while helping develop BRL services in Dubai. The new activities will also give growth incentive in the private sector and provide affordable licensing to entrepreneurs and generate job for expat professionals in the corporate sectors.
Moreover, the new activities will help emerging entrepreneurs cultivate their budding ideas with the least number of obstacles and work on becoming market leaders in their specified sectors.
