The opinion of investors on Dubai as a competitive and international center with huge potential for business development is invariably high. The Department of Economic Development of Dubai declares of almost 24.5 thousand newly issued licenses in July 2018.
Citizens of China, England, Saudi Arabia, India, Syria, Kuwait, Jordan, Pakistan and Egypt most often applied for the issuance of licenses to the Department of Economic Development.
Abu Dhabi Global Market (ADGM), an international financial center, introduced a new type of commercial license for technology startups that are beginning their operations in the center. Now entrepreneurs will be able to obtain a license to operate in ADGM, as well as the possibility of issuing 4 resident visas and various options for registering a legal address, paying $ 700 (2,570 dirhams).
ADGM also launched a program of professional support for entrepreneurs. As part of this program, local and international consultants will help entrepreneurs working in various fields improve their professional skills and develop the activities of their projects. The program will cover such aspects and topics as legislation, requirements for compliance with laws, finance, accounting and VAT.
According to the management of ADGM, licenses for technological start-ups and an entrepreneurial support program are aimed at optimizing costs when creating enterprises, as well as providing financial and professional support to entrepreneurs. And these are only two of a number of ADGM initiatives being implemented to assist this important sector.
Together with many other excellent initiatives of the government of Abu Dhabi, as well as with favorable conditions of a wide entrepreneurial ecosystem, ADGM innovations will contribute to the further formation of the emirate’s image as an attractive place to start a business. In addition, all these factors serve to diversify the economy, growth and development of innovations in the region.
According to experts, ADGM is an ideal platform for start-ups who want to develop their activities in the region of the Gulf countries and in the wider region of the Middle East and North Africa. New licensing options, as well as an entrepreneurial support program, will open for start-ups ample opportunities for doing business at a new level in the upscale ecosystem of ADGM, which brings together investors, consultants and corporate partners.