Dubai rolled out a new license that will enable investors worldwide to create commercial operations in the emirate without having to set up a base.
The virtual commercial license is the first set of services offered under the Virtual Commerical City (VCC) program. These commercial licences will give businesses access to use a regulated e-commerce platform and work with Dubai-based companies, while also exploring new markets and investment opportunities digitally.
This initiative, launched by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, allows investors to open bank accounts, secure e-residences and will focus on three main sectors such as creative industries, technology and services.
The license is expected to attract more foreign direct investment, more than 100,000 companies globally.
For those who are interested, Dubai Economy will start accepting and receiving applications for the Virtual Company Licence from businessmen and investors in 101 countries through the website www.vccdubai.ae or through the offices of VFS Global across 11 locations worldwide.
