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Dubai 30 -9-2019 / WAM
HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, today launched the “Virtual Business License”, the first of its kind in the region, within the framework of the implementation of the document issued by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE. The Ruler of Dubai, “God bless him” early this year, specifically the third item of the establishment of the first virtual commercial area, through which will be granted virtual business licenses without the requirement to reside in Dubai in accordance with the highest international legal regulations to conduct business digitally from Dubai.
The Deputy Ruler of Dubai stressed that the process of developing the business environment in Dubai is making great strides in modernizing the economic regulatory frameworks to reach the first position among the best business environments in the world thanks to the vision and directives of HH Sheikh Mohammed bin Rashid Al Maktoum and the follow-up and encouragement of HH Sheikh Hamdan bin His Highness Sheikh Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, has taken a number of influential decisions and initiatives that keep pace with the global developments and use its data to confirm Dubai’s leadership and establish itself as one of the most important economic centers in the world.
He pointed out that the strength and integration of Dubai’s infrastructure, which is considered one of the finest and most reliable in the world, has contributed to open unlimited prospects for the future development of our economic capabilities, especially as the rapid technological development has contributed to fundamental changes in the concepts and rules of doing business around the world While Dubai continues to keep pace with this development with a keen interest to take advantage of the new features of technology to serve its strategic interests as well as to serve the interests of business partners of different sizes and diversity of activities.
– Three segments.
The virtual business license, the fruit of cooperation between Dubai’s economy and the General Directorate of Residency and Foreigners Affairs – Dubai, the Dubai International Financial Center, the Supreme Committee for Legislation – Dubai and Dubai Smart City, focuses on three key sectors, namely, creative industries, technology and services. There are many rewarding opportunities for investors around the world to work digitally in Dubai remotely without the need to reside in it. Dubai and the UAE in general.
Dubai Economy will start receiving applications from businessmen and investors as well as those wishing to start their virtual business from 101 countries, through the website www.vccdubai.ae or through the offices of VFS Global, which is located in more than 11 locations around the world. S Global is a leading technology services provider to governments and diplomatic missions based in Dubai.
The virtual business license will play a role in attracting more than 100,000 companies, which will open the door for many local companies of an innovative and innovative nature to expand their business, supporting the future of the knowledge and business economy in Dubai.
HE Sami Al Qamzi, Director General of Dubai Economy, said: “Dubai Economy is proud to establish the first virtual commercial zone in the region, which will provide virtual business licenses for digital business without requiring physical residence in Dubai, in cooperation with the General Directorate of Residency. This launch is a testament to our role in shaping the future of business and implementing the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum. This achievement is a quantum leap in the concept of doing business and a major attraction for the next generation of businessmen.
“The launch of the Virtual Business License confirms Dubai’s economic endeavors to overcome obstacles to the private sector, which is a strategic partner in sustainable development, and that doing business in Dubai has become one of the simplest procedures for other businessmen and investors around the world, and will strengthen the partnership between the public and private Dubai’s economy is diversified and the emirate’s position as a global financial and business destination.
The design of the virtual business zone takes into account international agreements to which the UAE and Dubai are a party. Individuals who do not reside in Dubai will be able to obtain a virtual license once their data has been verified. Owners of companies must reside in those countries that have signed the Administrative Assistance Agreement. The names and owners of registered companies will be available on the virtual public platform in recognition of the principle of transparency.
Virtual business owners will be able to operate and digitally manage their activities without having to travel to Dubai, for example, digitally signing and signing contracts and documents with potential partners, which are legally binding in the UAE.
