Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, on Monday announced the launch of the region's first Virtual Company Licence.
The licence will allow investors worldwide to do business in Dubai digitally without requiring residence.
The virtual licence, a joint initiative of Dubai Economy, Dubai International Financial Centre (DIFC), General Directorate of Residency & Foreigners' Affairs (GDRFA), Smart Dubai, and the Supreme Legislation Committee, focuses on three main sectors: creative industries, technology and services. The initiative, which offers vast opportunities for investors around the world to work digitally in Dubai without having to be in Dubai, will enhance confidence among businesses and investors while also opening new horizons for business competitiveness and growth in Dubai and the UAE.
The virtual licence will enable freelancers and business people worldwide to have access to a regulated e-commerce platform and easily work with Dubai-based companies while also exploring new markets and investment opportunities digitally.
Dubai Economy will start receiving applications for the virtual licence from businessmen and investors in 101 countries through the website www.vccdubai.ae or through the offices of VFS Global across 11 locations worldwide. The initiative is expected to attract more than 100,000 companies and offer new opportunities for innovators and local companies, accelerating economic activity and the knowledge economy in Dubai.
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