UAE considers 10-year ‘golden licence’ to boost business – The National

UAE considers 10-year ‘golden licence’ to boost business – The National

The UAE government is contemplating a proposal to introduce new commercial licence regulations, including a 10-year golden licence and a five-year silver licence, to boost business activities in the Emirates.Industry analysts and top executives say if the proposed commercial licences are introduced they will instil confidence among investors and enhance the attractiveness of the UAE for businesses planning to establish operations here.“It is certainly a good signal to the whole world that the UAE is opening [up] to international companies to come and make the Emirates their primary home for business,” Naeem Aslam, chief investment officer at Zaye Capital Markets, told The National.The proposal was discussed by the Economic Integration Committee this week during its second meeting of the year under the chairmanship of the Minister of Economy Abdulla bin Touq.UAE Minister of Economy Abdulla bin Touq. Victor Besa / The NationalThe move aims to boost government revenue, stimulate business activities, and foster sustainable growth and prosperity in the country, the government said in a statement.This would be an important step for the UAE, the Arab world’s second-largest economy, in more than one way, said Hisham Al Gurg, chief executive of the Seed Group and the Private Office of Sheikh