The so-called “silver” and “gold” licenses give the right to conduct commercial activities in the UAE for five or ten years. In this way, it is planned to increase the profitability of the state and provide additional opportunities for the economic development of the state.
A corresponding meeting has already been held. The initiative is closely related to the “We the UAE 2031” strategy. The Minister of Economy believes that the UAE authorities are successfully working towards creating a favorable environment for doing business and investing in the country. By the end of 2023, about 788 thousand companies were already operating in the UAE.
The government is confident that as opportunities for companies increase, reporting requirements should also increase.