28 February, 2021
Dubai Introduces a New Digital Platform to Make the Startup Process Easy
An advanced new digital platform was launched to help entrepreneurs for easy establishment.
Invest Dubai- a digital platform for business visionaries looking for establishing business in Dubai was introduced on Tuesday by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Prime Minister and Vice President of the UAE and Ruler of Dubai.
Under Sheik Mohammed’s chairmanship, the new platform was endorsed in the event of the Executive Council’s meeting that was held on Tuesday. Sheikh Mohammed tweeted that the platform covers 2000 business exercises and different types of licenses.
The new activity is another step taken to consider Dubai as one of the popular choices for business visionaries worldwide. UAE dispatched a new law in November 2020, which stated that there is no need for an individual of UAE to act as a local sponsor for conducting business on the mainland.
Entrepreneurs from any nationality can conduct business with 100% ownership from December 2020. Dubai scored 94.8 by the World Bank for the ease of doing business. The rank was based on ten factors, and Dubai ranked in the top 20 most comfortable nations to begin a business.
The invest Dubai platform combines all the data, necessities and methods of beginning a Dubai-based business in one spot. The platform offers an abundance of data for business visionaries, like getting information on the type of license to details on the funding programs.
Entrepreneurs can receive a license in a few minutes without any pre-approvals because of the Dubai DED Instant License. Entrepreneurs can begin their business without any tenure agreement and bank accounts for 12 months due to the Instant license. The license is accessible for various categories of exercises and four kinds of foundations- Limited Liability Company, One Person L.L.C, Sole Proprietorship, and Civil Company.
After the trade license is issued, the General Directorate of Residency and Foreigners Affairs issues the establishment card for the license alongside three work permits for employees from the Ministry of Human Resources and Emiratization.
The Invest Dubai platform shows you the free, payable if you choose to go for the license and also allows you to check the availability of the license based on exercises, number of partners, and the sort of organization.