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Showing posts with the label culture of entrepreneurship

Random Thoughts on Creating and Supporting Entrepreneurs in the UAE

The United Arab Emirates (UAE) is ranked as 21st top nation on the World Bank's latest Ease of Doing Business report as per an article published in the Gulf News.  With the government announcing some exciting news recently, many people are waiting for more updates. For one, the investors find it very attractive to have a ten-year residency visa which will allow them to grow their businesses in an innovative way. Some of the measures to be taken as announced are replacing the bank guarantee of AED3K / employee with an insurance policy for some entitlements for an amount of AED60 / year only. Others are cut down on red tape, a more 'relaxed' business ownership rules (investor can own 100% of the business), and reduced registration and operating costs, among others. More will be announced later. This ease in doing business in the UAE is one major element in attracting people to self-employment or investing in viable businesses. Creating more businesses will defini...