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Top Recent Business Developments in Dubai to Start 2022 on a Positive Note

As we approach 2022, one thing is certain: the process of establishing a business in Dubai has gotten easier and more flexible. Thanks to a series of forward-thinking changes made by the Federal Government, foreign investors may now enjoy more benefits than ever before. Golden visas, the abolition of corporate ownership limitations, and new laws, among other things, allow international investors to start the new year on a bright note.

Entrepreneurs must create new tactics for business creation in Dubai in light of the recent laws. In order to fully profit from the new reforms, starting a firm in Dubai in 2022 should be founded on creative ideas. To infuse new thinking into your company formation plan in 2022, you might seek the assistance of business establishment consultants in Dubai. If you want to start a new business in Dubai in 2022, keep the following reforms in mind:

100% Foreign Ownership in Mainland 

When the government abolished the need for mainland enterprises to have a local sponsor, it marked a watershed moment in the UAE’s corporate scene. Previously, mainland companies had to have a UAE native partner who owned at least 51 percent of the company’s stock. From June 20, 2021, the government abolished this requirement, allowing 100 percent foreign ownership in certain corporate activities in the UAE.

Foreign investors have 100 percent ownership in tens of thousands of economic enterprises. You should review your operations with the DED to see if your company is eligible for 100 percent ownership in Dubai. You may also contact company establishment advisors in Dubai to choose activities that are 100 percent owned by foreigners.

The Entrepreneurial Nation Initiative 

The UAE government proposed an ambitious strategy for startups and small businesses in November 2021. By 2031, the UAE’s Entrepreneurial Nation project seeks to attract 20 unicorns, or start-ups worth more than $1 billion. The government will encourage entrepreneurs through a number of public-private partnerships as part of the strategy.

The government will implement the policy to achieve its key objectives, which include assisting entrepreneurs in establishing businesses in the UAE, expanding firms, exporting items, and exploring e-commerce sales. The government will also set up an AED 1 billion private equity fund to lend to SMEs working in important areas that are headquartered in the UAE. Entrepreneurs would benefit from the assistance of business setup advisors in Dubai.

UAE Green Visas

Green Visas were awarded by the UAE government as part of the ‘Projects of the 50’ initiative to promote foreign investment into the nation. Holders of UAE Green Visas are granted self-residency status in the UAE. Green Visas, on the other hand, are not connected to a corporate work permit. It implies that in order to get residency in the UAE, candidates for the UAE Green Visa do not need to obtain sponsorship from a corporation. Green Visas are available in the UAE for investors, entrepreneurs, and those who own SMEs, as well as qualified professionals and outstanding students. Business experts in Dubai can assist you in obtaining a Green Visa quickly and easily.

UAE Freelancer Visas 

The UAE approved freelancer permission or visa in 2021 to allow anyone to operate freely in the nation. It’s a one-of-a-kind freelancer permit that permits people to self-sponsor. Furthermore, it is the only federally issued freelancer visa. Artificial intelligence, blockchain, and digital currencies are among the activities covered by the UAE freelancer visa.

Individuals could previously only apply for freelancer permits from free zones. A free zone freelancer visa is tied to work permissions, unlike a mainland freelancer permit. More firms are anticipated to engage freelancers as a result of the new UAE freelancer visa. Business experts in Dubai can assist you in obtaining a freelancer permit quickly and easily.

UAE Golden Visas 

In 2021, the UAE began distributing Golden Visas to notable individuals, artists, health care professionals, physicians, investors, and top students. The UAE Golden Visa allows visa holders to stay in the country for a period of ten years. The UAE Golden Visa has recently been expanded to cover managers, CEOs, and experts in research, engineering, health, education, business management, and technology.

In the real estate sector, foreign ownership is 100 percent.

The introduction of 100 percent foreign ownership in Dubai’s real estate market in 2021 marked a significant shift. Previously, UAE residents held 100 percent of the real estate brokerage businesses in Dubai. To prevent expatriate partners from fleeing the country or abusing trade licenses, a zero foreign ownership policy was implemented. The establishment of 100 percent foreign ownership will increase the attraction of setting up a firm in Dubai and encourage FDI. Business setup specialists in Dubai can assist you in swiftly establishing a real estate brokerage firm.

CIG can help you start 2022 on a positive note.

The landscape of company establishment in Dubai has radically changed as a result of groundbreaking reforms implemented in 2021. As a result of these developments, starting a business in Dubai has become more flexible. Foreign investors, on the other hand, will need to devise new tactics to maximize the benefits of these new laws. CIG, a Dubai-based business setup firm, will assist you in developing fresh company creation techniques.

CIG has a staff of highly skilled business setup experts that can help you with important matters including visa processing, document preparation, and company registration. CIG provides a one-stop-shop for all of your needs, including accounting, auditing, trademark registration, Economic Substance Regulations compliance, and Ultimate Beneficial Ownership compliance, to name a few. We can assist you in establishing your ideal business in Dubai with minimal effort.