UAE: the details of the 10-year golden commercial license for expatriates

rawda samy - | Business

The United Arab Emirates has announced a golden commercial license for expatriates that is valid for ten years.

The United Arab Emirates (UAE) is discussing "competitive prices" regarding the issuance of a 10-year golden business license.

For investors, entrepreneurs, property buyers, and exceptional students, the United Arab Emirates has previously implemented a Golden Visa program that is valid for a period of ten years.

The UAE is preparing to issue the gold license for a period of 10 years and the silver license for a period of 5 years.

The United Arab Emirates is about to issue a gold license with a ten-year duration and a silver license with a five-year duration.

A golden and silver business license, each of which will be valid for up to ten years and five years, respectively, is now under consideration by the United Arab Emirates.

The Minister of Economy, Abdullah bin Touq Al Marri, as well as Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and a number of other senior officials were present at the meeting of the Economic Integration Committee when this topic was discussed.

Yesterday, the committee addressed the possibility of awarding these long-term business licenses "at competitive prices" in a manner that would contribute to the increase of government income, improve the continuity of commercial and economic operations in the country, and assist the country in growing and prospering.

While the committee was meeting, they addressed the 10-year golden business license as well as the five-year silver business license.

One year is the typical duration of validity for a business license in the United Arab Emirates (UAE). Depending on the type of license the company operates under, certain costs apply to extend the license for an additional year after it expires.

Governments have recently accelerated the approval process for business licenses, enabling the issuance of licenses within minutes.

To give just one example, Dubai's instant license can be obtained in as little as five minutes for operations that do not require permission from outside sources.

Golden residency system in the Emirates.

In the Emirates, there is a system of golden residency.

Golden Visa, a residency program that lasts for ten years and is available to investors, entrepreneurs, property buyers, excellent students, and other professions, has been available in the United Arab Emirates since 2019. Because of these new silver and golden business licenses, the government will be able to attract more enterprises and talented individuals, which will result in an increase in the country's competitiveness.

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