For entrepreneurs, UAE Golden Visa plus options on lower cost of doing business prove a winner

For entrepreneurs, UAE Golden Visa plus options on lower cost of doing business prove a winner

In Abu Dhabi, the ‘opportunity to open a business without the need to spend on office space for the first year (of operations) would be an additional incentive,” said Simon Gordon, Managing Director for Sovereign Corporate Services.

For a new entity, especially those operating with limited personnel, not having an office for those 12 months represent a major saving.

There are also free zones in the country that have ‘reduced’ the initial cost of launching operations for their new tenants, either through direct reduction on the lease terms or through one-off incentives. And consultancies that specialise in business set ups suggest there could be more of these as the various authorities reassure business owners about the cost of operations.

“What the UAE has done is build on the Golden Visa program for business owners,” said a consultant. “The take-up rates for entrepreneur-linked long-term resident visas have been significant. Through cost reduction offers, a new wave of entrepreneurs can be attracted.”

Helping businesses – and more so the new entrants - manage costs has become a top priority for the authorities, especially as other global investment destinations are aggressively pursuing prospective clients.

"The UAE’s focus on helping businesses manage costs has been instrumental in making the