Virtual Company Licence in Dubai
Dubai: "Virtual Company Licence" for businessmen and freelancers not resident in the UAE
His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, which aims to build a ‘Virtual Commercial City’ in Dubai.
The initiative of the “Virtual Company Licence” was born from the desire of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to build a “Virtual Commercial City” that can combine the needs of the country with those of all foreign businessmen entering the Emirates market for the first time.
How does Virtual Company Licence work?
The Virtual Company Licence will allow investors worldwide to do business in Dubai digitally without requiring residence and in accordance with the highest international legal standards. Thanks to these initiatives Dubai once again proves to be one of the most developed and functional business hubs where business can be done.
Convenient, isn’t it? Want to know who can get the virtual license?
Virtual Company Licence, focuses on three main areas:
- creative industries
All non-resident natural persons are eligible to apply for a licence.
The owners of these companies must be citizens or tax residents of countries that have implemented the Convention on Mutual Administrative Assistance in Tax Matters and share tax information about their citizens and residents.
The Virtual Company Licence will allow freelancers from all over the world to have access to a regulated eCommerce platform and to work easily with companies based in Dubai…all in a DIGITAL way!
Which countries are qualified?
The official Dubai Virtual Commercial City website has a map showing eligible and non-eligible countries worldwide. Italy is one of the eligible countries for the VCL.
Virtual Commercial City
The virtual city is designed in full compliance with the international agreements of which Dubai and the United Arab Emirates are part.
New generation of entrepreneurs
Sami Al Qamzi, General Manager of Dubai Economy said:
“We are proud to launch the first Virtual Trading City in the country that will provide virtual licenses to do business digitally without having to apply for residence in Dubai, in collaboration with the General Directorate of Residential and Foreign Affairs. The initiative underscores the role of Dubai’s economy in shaping the future of business as envisaged by His Highness Sheikh Mohammed Bin Rashid Al Maktoum. It also marks a quantum leap in the concept of doing business and will be a great attraction for the next generation of entrepreneurs”