The series of stimulus packages and incentives launched by the Dubai free zone company council only shows how the government cares for foreign investors. They want to make sure foreign investors will have an easy and smooth process in setting up free zone companies in the Emirate. Thus, the free zone council is set to launch a unified business portal for investors; hoping it’ll pave the way for Dubai’s quicker economic recovery.
Dubai Free Zone Company Business Portal
The Dubai Free Zone Company council plans to launch a unified business portal for foreign investors. The said portal will handle all the special investment zones in the emirate. Aside from helping aspiring investors to set their business easier, the portal will also help them make informed decisions. The council will aid these investors in choosing the best type of free zone companies suited to them.
Furthermore, the Dubai Free Zone Council will also compile all the records of free zone company operating in the Emirate in one centralized database. This would help in streamlining the information for all registered free zone companies. It'll also simplify the Council's task in facilitating the movement of companies along with the free zone areas.
The Stimulus Recovery Package
Aside from the said business portal, the Dubai Free Zone Company Council also considers extending the stimulus package given to free zone companies. Last March, the council announced a whopping Dh1.5 billion recovery plan to help companies thrive in free zones. The said stimulus package aimed to help tenants in waiving their fees or paying it on an installment basis.
It also canceled all the fines and penalty charges and guarantee refunds for free zone company zones. Aside from this, the Dubai government also announced an astounding Dh1.5 billion worth of economic incentives for non-free zone areas. This summed up to Dh6.3 billion stimulus package for Dubai's entire business and economic industries.
These post-coronavirus plans and economic measures are fully supported by the Dubai Free Zone Company Council. They said the government’s plans will help in recovering the national economy amid the pandemic crisis.
Building an Economic Framework
The business portal will also complement building a geoeconomic map for Dubai; Dubai Free Zone Company Council Sheikh Ahmed bin Saeed said. The business portal will also complement building a geoeconomic map for Dubai; Dubai Free Zone Council Sheikh Ahmed bin Saeed said.
It will also help in increasing the coexisting operations in all Dubai free zone companies. As more and more foreign investors see Dubai's sturdy economic framework, they’ll be compelled to invest more in the emirate. This puts Dubai as an attractive destination for foreign investments.
A Dedicated Electronic Gaming Free Zone Company
The Dubai Free Zone Company Council also disclosed its plans to set up a free zone solely dedicated to electronic gaming companies. As electronic games and e-sports are on the rise, Dubai wants to enter the emerging industry too.
During this pandemic, the Council noted how Microsoft's Game Pass subscriptions exceeded 10 million after movements were restricted around the world. The company also reported a 130% increase in multiplayer engagement for the month of March and April. Setting up a free zone area for electronic gaming companies will bring in more foreign investments in the emirate.
Take this golden opportunity to be part of Dubai’s prestigious free zone areas now! Learn how to set up a free zone company in Dubai and how we can help you! Reap these awesome benefits as you recover your business from the pandemic.