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

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.