BABA - UAE Considers 10-Year 'Golden' Business License To Boost Foreign Investment: Here's What It Means | Benzinga
In a bid to enhance business activities and increase government revenues, the United Arab Emirates (UAE) is contemplating the introduction of long-term business licenses, including 10-year “golden” licenses.
What Happened: The UAE is considering the implementation of new regulations for trade licenses, including the issuance of five-year “silver” licenses and 10-year “golden” licenses, reported Gulf News on Monday. These measures are intended to stimulate business continuity and promote economic growth in line with the “We are the UAE 2031” vision.
The proposal was discussed during the inaugural 2024 Economic Integration Committee meeting, chaired by Abdulla bin Touq Al Marri, the Minister of Economy. The committee also reviewed the progress in implementing the outcomes of its first 2024 meeting in February.
Bin Touq underscored the crucial role of the Economic Integration Committee in enhancing the UAE’s business environment competitiveness. The committee has proposed policies and recommendations to expedite business processes, increase the country’s appeal to investors and talents, and establish a comprehensive ...