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Dubai has long been one of the most attractive business\ndestinations and the most dynamic markets in the Middle East. The emirate has\nbeen able to maintain this reputation over the past many years with a string of\nvisionary policies aimed at building a more diverse economy. The latest in the\nlist of the government\u2019s continuous efforts to transform Dubai into an\ninvestment-friendly ecosystem is the introduction of dual licensing.<\/p>\n\n\n\n
The\nresult of an MoU between two of Dubai\u2019s free zones (DAFZA and DIFC) and the\nDubai Department of Economic Development (DED), the dual licensing system\nallows foreign free zone companies to extend their operations to the Dubai\nmainland. This is a transformative new development and comes with the potential\nto change the entrepreneurship and the business landscape in Dubai.<\/p>\n\n\n\n
BREAKING\nDOWN BARRIERS <\/strong><\/p>\n\n\n\n Dual\nlicensing was something that was long being demanded by companies and\nentrepreneurs in the free zones, who were interesting in operating multiple\nenterprises and also reach out to the UAE market. Before this, these companies\nwere allowed to operate only within the boundaries of the free zones they were\nregistered in. This meant that, even though they were so close to it, they were\nmissing out on a lot of opportunities to trade in one of the fastest growing\nmarkets in the Middle East.<\/p>\n\n\n\n INTERCONNECTED\nBUSINESS LANDSCAPE<\/strong><\/p>\n\n\n\n The\nprocess for obtaining a dual business license involves first registering a\ncompany at DAFZA or DIFC and then applying for a dual business license with the\nDepartment of Economic Development. The two business activities in a dual\nbusiness model will be interconnected through the license. Dual licensing\nallows businesses to explore multiple avenues at the same time. Entrepreneurs\nwill have the chance to take advantage of the various benefits of both the free\nzone and mainland business models.<\/p>\n\n\n\n IMPROVED\nGOVERNANCE & COMPLIANCE<\/strong><\/p>\n\n\n\n The dual\nbusiness system will also allow authorities to ensure better governance and\nregulations. With this new agreement, the DED will now have the power to alter\nor add to existing activities of businesses. The license approvals will be\nsubject to the terms and conditions of both the free zone and the DED. There\nwill also be enhanced monitoring and joint inspections. This is expected to\nimprove transparency and compliance within the free zones, while also\npreventing fraud and increasing consumer protection.<\/p>\n\n\n\n GROWING\nTOGETHER<\/strong><\/p>\n\n\n\n The dual\nlicensing system is a major milestone in Dubai\u2019s already dynamic business\nenvironment. It helps foreign investors and entrepreneurs to explore previously\nunavailable opportunities in the highly lucrative Dubai market. Additionally,\nDubai is also expecting to attract large amounts of FDI and transform the\nemirate into a more diverse and flexible knowledge based economy, in line with\nits goals for the coming decade.<\/p>\n\n\n\n If you are a business or an entrepreneur looking to set up a\ncompany in Dubai Airport Free Zone or trying to expand your existing\noperations with a dual license, you might find it helpful to partner with a\nregistered company formation agent who can offer your expert guidance and take\nyou through the complete process.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" Dubai has long been one of the most attractive business destinations and the most dynamic markets in the Middle East. The emirate has been able to maintain this reputation over the past many years with a string of visionary policies aimed at building a more diverse economy. The latest in the list of the government\u2019s continuous efforts to transform Dubai into an investment-friendly ecosystem is the introduction of dual licensing. The result of an MoU between two of Dubai\u2019s free zones (DAFZA and DIFC) and the Dubai Department of Economic Development (DED), the dual licensing system allows foreign free zone […]<\/p>\n