dubai economy Archives - Oryx community

UAE approves 100% Foreign ownership starting 1st of June 2021

The Ministry of Economy had announced the Federal Commercial Companies Law No. 2 of 2015 that was previously amended to be finally put in effect. Effective 1st June 2021, the Government of the United Arab Emirates (UAE) will allow foreign investors to fully own local companies with certain activities without an Emarati sponsor. The activities considered to have strategic impact on the UAE's economy will be applied under the amended law and can be applied to both old and new onshore licenses. Various activities from oil and gas, telecom, commercial agency, banking insurance, labour supply, and utilities' sectors, however, will not be included in the recent amendment. But considering UAE's open foreign direct investment policy, these also may be revised in future. In line with the UAE's comprehensive vision to strengthen its position as a global investment destination, the amendment to [...]

Dubai Economy and Amazon join hands to support start-ups

Dubai Economy and Amazon join hands to support start-ups thrive in the digital economy The Business Registration and Licensing (BRL) sector in Dubai Economy and Amazon have launched a new programme to support DED Trader license holders by providing interactive e-Learning content to help them thrive in the digital economy. The new programme is part of the cooperation between Dubai Economy and Amazon to support DED Trader license holders interested in making their products available to more customers and growing their businesses online. The programme will offer access to the Amazon Seller University, which provides a series of training videos and resources that will help participant’s master key tools and applications to build their brand and expand their businesses to reach millions of customers via Amazon.ae. Amazon will curate a dedicated storefront on Amazon.ae to showcase products available from DED Trader [...]