Dubai becomes world’s first city to enable investors start business from remote locations
- 650 centres in 45 countries to assist investors worldwide to start business in Dubai
- Initiative aimed to attract investors and remove hurdles for them: Al Gergawi
- ABCN will offer innovative services that meet investor expectations on Dubai: Kamel
In another world’s first, investors globally will now be able to start their business in Dubai without having to be in the UAE, following an agreement between Dubai Investment Development Agency (Dubai FDI), an agency of the Department of Economic Development (DED) in Dubai, and the US-based Alliance Business Centres Network (ABCN).
The partnership will enable investors overseas to use a network of 650 business centres spread across 85 cities in 45 countries to start a business in Dubai. The initiative is part of Dubai FDI’s continuing efforts to attract sustainable foreign investment in line with the goals of the Dubai Plan 2021 and promote the emirate as a competitive destination to do business.
Through the agreement, Dubai FDI seeks to attract international companies to Dubai and enable them grow and expand their business by leveraging a full range of professional services provided by ABCN. The partnership comes at a time when global investors and major multinationals are looking to capitalise on the prospects in Dubai, including its vibrant lifestyle, modern facilities, cultural diversity and openness, in addition to the highly competitive business environment.
Known to be the largest global network of serviced offices, Alliance Business Centres is also one of the leading providers of investor and corporate services for more than 50,000 clients and manages 15 million square-foot of serviced offices worldwide. ABCN operates its businesses in the Middle East, Africa and Russia through its regional headquarters in Dubai. The professional services portfolio of Alliance Business Centres covers various legal forms of business as well as a wide range of commercial and investment activities available in Dubai.
Fahad Al Gergawi, CEO of Dubai FDI, said: “This initiative is in line with Dubai’s objectives to reach out to international investors and companies, remove hurdles for those looking to benefit from investment opportunities and economic development in Dubai, and sustain economic growth. Dubai’s strategy, supported by free and open economies policies and competitiveness, allows companies to benefit from the movement of goods to various regional and international markets, which is positively reflected on the promotion of global trade.”
Al Gergawi added: “Dubai FDI continues to develop strategies that would enhance Dubai’s appeal as a global investment haven. The agreement with Alliance Business Centres provides a new channel to attract foreign investments towards achieving economic growth and sustainability in Dubai and the UAE in general. Those seeking to know more about the business rules and regulations in various sectors in Dubai will find the required support as a result of this agreement. It will also allow investors and business owners to be updated on economic activity, opportunities and expansion potential in Dubai.”
The business centres network will particularly cover GCC countries such as Saudi Arabia, Bahrain and Kuwait, in view of the close relationship between these countries and Dubai and the importance accorded to regional co-operation in the vision and directives of the UAE leadership, Al Gergawi stated. He also underscored Dubai FDI’s efforts to boost public-private partnerships and reinforce the role of global investment in economic development, as reflected in the agreement with ABCN.
Sherif Kamel, Regional President, ABCN in RMEA, said: “The new strategic partnership will further stimulate economic activity, attracting new investors to capitalise on the opportunities in Dubai, which is emerging as a preferred global investment destination. Dubai has a solid economic foundation, based on advanced legislations that allow it to keep pace with rapid global changes. The emirate has developed clear policies and laws that serve its goals in attracting investments, facilitating business and offering an integrated package of innovative services that support business growth and expansion.”
Kamel added: “We are committed to developing our global network to serve the needs of investors and help Dubai FDI deliver innovative and reliable services that meet the expectations of global investors who want to grow and expand their business locally and regionally through Dubai.”
ABCN’s service centres around the world offer solutions and important information about the various economic sectors in Dubai, in addition to facilitating constant communication and follow-up to ensure uninterrupted processes, Kamel said. “We also assist them throughout the process up to the company’s arrival in Dubai – from the beginning of the application until the completion of the process of starting the business. The service is available in many countries, including the US, Germany, Russia, China, India, Switzerland and other commercial and industrial centres.”
The agreement seeks to build on the growing interest in Dubai and the UAE worldwide as a growing number of multinational companies are attracted by the UAE’s political and economic stability, rapid population and economic growth, and efficient and fast-growing capital markets. The ambitious infrastructure projects Dubai has launched ahead of the Expo 2020 and the whole new world of opportunities the emirate has opened for world-class expertise, entrepreneurial excellence, and innovation are expected to accelerate investment inflows into the emirate.