Start-ups to grow in numbers with 100% ownership
Thanks to the new initiate startups in the UAE Will be able to gain traction which allows them 100% ownership of their own Enterprise. This has now attracted more and more foreign investors. In fact, Dubai Internet city alone has a very huge network of more than 1, 600 business partners that come from a multiple number of industries spanning from the Internet of Things, artificial intelligence, cybersecurity, big data and robotics.
Dubai is already a very hi-tech hub in the middle east. Many experts have also said that the decision taken in the cabinet has sent out a solid signal to high-tech investors and other businesses to create opportunities and to anyone that is allowed to compete on the same grounds with the same rules. The foreign ownership of UAE based businesses that can be owned by expatriates along with a 10-year residency visa is a huge bonus and a dream come true for many.
Sam Blatteis, co-founder, and CEO of The Mena Catalysts Inc, a Gulf-based government affairs consulting company, has said, “We still want to see the full details of the new policy before making a final assessment but this is the science of small wins. Because liberalizing foreign ownership might encourage tech innovation in long-previously overlooked onshore sectors.” While the Vice-President and Regional Managing Director for the Middle East, Africa and Turkey at International Data Corporation, Jyoti Lalchandani mentions, “The 100 percent ownership is really a trigger to drive more foreign investment, especially in sectors such as science and technology — as well as venture capital.”
Sam Blatteis goes on to state, “The UAE has realized that it now provides a compelling value proposition to attract foreign investors looking for new growth opportunities. Ultimately, the UAE (and Dubai in particular) benefits from its strategic location, political security and stability, social and cultural openness, and world-class infrastructure.”
The Executive Director of Dubai Internet City, Ammar Al Malik said, “The prospect of 100 per cent ownership is certainly an “interesting proposition” for companies of all sizes and will further cement the position of the UAE as the leading business hub in the region, attracting even more businesses, entrepreneurs and the best and brightest talent.” and also “From our perspective at Dubai Internet City and with the values of our community, I am confident we will continue to be the ideal choice for global companies and tech start-ups in the region” adding “Our unique ecosystem and tailored set up allow technology companies and talent to connect and innovate, contributing to the success of Dubai.”
With great offers in the local market that is being offered by UAE as well as the opportunity for major developing markets with the possibility to have 100% ownership, one can expect there shall be very significant improvements in UAE’s attractiveness as a global and leading business hub.