Now doing business in UAE is easy

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Hi,
Check this news clipping, i feel its definitely a good move by the government, encouraging new enterpreneurs to UAE, what do you think about this news? share your views here!

The minimum capital requirement of Dh150,000 for the establishment of a limited liability company (LLC) in the UAE was abolished on Monday by Presidential Decree. 

According to the decree issued by President His Highness Shaikh Khalifa Bin Zayed Al Nahyan, the amendment is retroactive to companies established on or after June 1, 2009 and allows new businesses to determine the capital required for the establishment and sustainability of their companies. 

Experts believe the amendment to the Federal Law No 8 of 1984 stipulating requirements for companies to start operations is designed to stimulate growth in the small and medium enterprise sector by cutting the cost of doing business and removing bureaucratic hurdles including the need to produce bank certificates. 

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selyn Members Profile Send Private Message Find Members Posts Add to Buddy List Moderator Group Joined: 09 Aug 2009 Location: UAE Online Status: Offline Posts: 3	Quote Reply Topic: Now doing business in UAE is easy Posted: 12 Aug 2009 at 4:56pm
	Hi, Check this news clipping, i feel its definitely a good move by the government, encouraging new enterpreneurs to UAE, what do you think about this news? share your views here! The minimum capital requirement of Dh150,000 for the establishment of a limited liability company (LLC) in the UAE was abolished on Monday by Presidential Decree. According to the decree issued by President His Highness Shaikh Khalifa Bin Zayed Al Nahyan, the amendment is retroactive to companies established on or after June 1, 2009 and allows new businesses to determine the capital required for the establishment and sustainability of their companies. Experts believe the amendment to the Federal Law No 8 of 1984 stipulating requirements for companies to start operations is designed to stimulate growth in the small and medium enterprise sector by cutting the cost of doing business and removing bureaucratic hurdles including the need to produce bank certificates.
	selyn