Dubai Plans New Ecommerce Free Trade Zone to Offer 100% Foreign Ownership
The phrase “Dubai” conjures up images of a vast urban landscape dotted with vertical skyscrapers, teeming with tourists, and opulent retail areas. This amazing metropolis is home to practically all multinational corporations, which are mostly connected to wealth and business. It is a significant participant in international trade and, more importantly, one of the world’s most prosperous business centers.
In keeping with this development, the UAE government recently unveiled a new law granting foreign investors 100% ownership rights in a number of industries, including e-commerce. What what does this mean? Let’s find out by reading on.
The big event
Expo 2020, a global trade convention that is highly expected to bring enormous foreign investment and business to Dubai, is scheduled to take place in the city. This came before numerous local legislation reforms pertaining to real estate, property, and business and investment. One excellent illustration of this shift is the EZDubai.
The goal of this enormous free trade zone, spanning 920,000 square meters, is to attract associated companies like e-commerce. This e-free trade zone was developed for a total cost of 2 billion AE Dirham by the state developer of Dubai, known as “Dubai South.” The main goal is to establish Dubai as a globally recognized free trade zone for e-commerce.
A welcome opportunity
Before, the regulations prohibited foreigners from owning more than 49% of a company; locals were allowed to possess the remaining shares. This new offer of 100% ownership is highly profitable for large e-commerce companies who want to run independently. It is also advantageous if you wish to start again with an e-commerce company in Dubai.
This implies greater business potential for ecommerce web design Dubai organizations as well as for web developers. Due to a dearth of fresh chances, Dubai’s e-commerce industry is presently on the stale end of the spectrum. greater e-commerce, of course, means greater business potential for Dubai’s web development firms—not just the established ones, but also the new ones.
Start-ups and investment enthusiasts have access to a plethora of new prospects thanks to this recent development. Yes, Dubai is a bustling place to be, and now is your chance to take full ownership and plunder the rumble. Prepare to launch your own online store in Dubai and take advantage of one of the most promising free trade zones in the world.
Disclaimer: Above all information is for general reference only and sourced from internet, before making any kind of decision please visit the authorized websites of authorities and service providers.