Dubai's Doors Open for Business

I have not been able to react or comment on the announcements by the UAE Cabinet at the beginning of this week and how this has impacted on our commercial enquiries as leads have certainly increased this week. As the Commercial Manager at Exclusive Links I can certainly confirm there has been an influx in commercial enquires since Sunday and somehow more confidence and purpose. Customers are still being cautious as I still feel there are some points to still be clarified. In summary, it was announced

• visas of up to 10-years for specialists working in medicine, science, research and technical fields

This is to include their families and will have a very positive impact also into the residential market as more skilled specialists choose Dubai to buy property, settle and retire.

• that foreign investors establishing a business or putting money in the country could secure a visa of up to 10 years

I think global names and brands have never shied away from having a HQ or hub in Dubai but the message is certainly more clear and welcoming - our doors are wide open to more investment and innovation.

• that foreign companies will be able to own 100 per cent of their business

You have always been able to own 100% of your business but only in designated freezones which is not a business solution or environment that suits everyone.  It is these business that the recent announcement will benefit the most. In saying that I don't see there being a dramatic negative impact on the free zones as they still provide an excellent community in terms of infrastructure, legal framework and financial benefits.