The UAE offers unique opportunities for all forms of entities – from start-ups and SMEs to large multinationals. The UAE has established itself as a global hub for entrepreneurs, business owners, and traders.
Among the list of benefits to set up a company in Dubai and the UAE is the option to engage in local and international trade. This is made possible through the country’s various jurisdictions. A wide range of prospects are available to foreign investors in Dubai and the UAE, especially in the commercial trading business. More than 2,000 licensed economic activities are available in all seven emirates, governed by relevant departments of economic development, municipalities, and free zones.
Corporates and individuals from all over the world can have complete ownership of companies in the UAE. This was made possible after the ratification of the Commercial Companies Law in 2020, which allows foreigners to establish companies with 100 percent full ownership.
In a report released by Dubai’s Department of Economy and Tourism (DET) regarding Dubai’s economic outlook during the first quarter of 2022, stated a total of 24,662 new business licenses were issued in quarter one. It also reflects that 43% of the newly issued business licenses during the said quarter were from the trading industry.