Foreigners do not need UAE sponsors to do business in Dubai

In order to be able to conduct business in Dubai without needing UAE sponsors, foreigners must have minimum of $2.7 million capital inflows and relocate their headquarters to the Gulf emirate. (Reuters)

Foreigners are allowed to create partnerships between themselves without the need to have Emirati sponsors but on condition that they must finance their projects through minimum of $2.7 million capital inflows, an official from the Department of Economic Development in Dubai (DED) told a local newspaper in an interview published Sunday.

“GCC nationals can have foreign business partners without third local party in Dubai for any project worth a minimum of $2.7 million and based on foreign knowledge and finance,” Mohammad Shael Al-Saadi, CEO of Business Registration & Licensing Sector at DED, told Gulf News.

Another compulsory condition is that foreign investors must relocate their business headquarters to Dubai. The focus must also be on quality and in fields that will add critical value to Dubai’s economy.

“One more of these businesses conditions is there should focus on the quality of the employees rather than quantity. All workers should fall under the skilled worker category,” he added.

Nationals from other Gulf countries were able to set up businesses in Dubai without local partners, however, with the new measure, they will be able to have partnership with foreigners without Emirati sponsors.

SHOW MORE
Last Update: Monday, 11 March 2013 KSA 18:07 - GMT 15:07
Top