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The UAE Free Zone’s announcement of an instant business license service is a game-changing initiative aimed at fostering ease of business establishment1. This comprehensive package includes critical components to meet the needs of entrepreneurs and businesses alike. The license can be obtained swiftly, redefining the process of setting up businesses in the UAE2.
The UAE is known for its flourishing business environment, offering 100% business ownership and capital repatriation3. It’s an enticing prospect for UK entrepreneurs who want to maintain complete control over their businesses. Furthermore, the country offers designated free zones for business operations, requiring a free zone license4.
The instant license initiative allows anyone to obtain a commercial or professional license in Dubai in just five minutes5. This streamlined process is designed to boost the UAE’s entrepreneurial ecosystem and appeal to foreign investors and entrepreneurs.
The fastest route to obtaining an instant business license is typically through one of the many Free Zones6. These zones are designed to facilitate easy and rapid business setup, making them an attractive option for UK businesses looking to establish a presence in the UAE.
For UK residents contemplating starting or relocating a business to the UAE, this development could be a significant deciding factor. The instant business license not only simplifies the process but also reduces the time it takes to start operating in the UAE.
In a world where time is money, this initiative presents a valuable opportunity for UK entrepreneurs to quickly start their business operations in the UAE, saving them both time and effort. The option to maintain 100% ownership is another significant draw, offering entrepreneurs complete control over their ventures.
The UAE’s instant business license offer is an innovative step towards fostering a more accessible and attractive business environment for foreign investors. For UK entrepreneurs eyeing the UAE as a potential business hub, this development could be the push they need to make the leap.
With its business-friendly policies, rapid setup processes, and the promise of full control, the UAE is positioning itself as a leading global business destination. It’s a compelling proposition that UK businesses looking to expand internationally should seriously consider.
Source: Arabian News
The United Kingdom’s resilient property market is set to attract more Gulf capital in 2024, despite signs of a slowing global economy and rising interest rates. Industry insiders have revealed that investments in UK real estate from Gulf investors will remain strong this year, bolstered by recent deal activity and the forthcoming ETA visa scheme.
Data from real estate consultancy Knight Frank indicates that the 10-year average annual GCC investment into UK commercial property stands at around $3.4 billion. When considering investment in UK residential assets, the figure is even larger. The UK, and London in particular, is viewed as a safe haven for investors due to its cultural, historical, retail, and educational appeal.
However, higher interest rates have impacted demand for UK property. Last year, transaction levels dipped by approximately 10 percent, but prices remained relatively stable, with only a 2.1 percent fall in Prime Central London.
Despite these challenges, there is renewed optimism in the property market as the economy begins to stabilize and mortgage rates become more attractive. That said, with a general election expected in the summer, it’s unclear how long this window of opportunity will last.
The weakening of the British pound against other major currencies like the US dollar has made UK properties more attractive to Gulf investors. As a result, GCC-based investors have increased their allocation to UK real estate as they seek opportunities created by market distress.
Berkeley Group has noted a significant surge in purchase inquiries from the region, suggesting that the current position of the pound is not lost on investors. The multifaceted appeal of the UK property market, including long-term capital appreciation prospects and attractive financing opportunities, means the UK’s resilient property market is poised to lure more Gulf capital in 2024.
Although recent interest rate hikes may cool some property sectors, lower prices, and select yield plays appear to still attract Gulf investors. The UK real estate market remains a bullish prospect for Gulf investors, despite the economic slowdown.
Gulf Cooperation Council (GCC) investors are showing an increased sophistication and understanding of diverse opportunities in the UK real estate market. According to a report by CNBC, many economic observers have pointed to the Gulf states, particularly the UAE and Saudi Arabia, as leveraging their oil wealth and geographic advantages to make strategic investments1.
Simmons, a renowned real estate expert, noted that GCC investment in UK real estate significantly increased last year from 2022 levels, with activity witnessed throughout the UK and not just confined to Central London. He highlighted the region’s growing sophistication and understanding of the diverse opportunities available across the country.
Middle Eastern investors have been particularly active in prime market segments, ramping up deals targeting higher-value properties even as global transaction volumes fell in 20232. “We think GCC investment into UK Commercial Real Estate market will continue to grow throughout 2024 and be more in line with the long-term trend – [circa] £2.5 billion – £3 billion,” said Simmons.
Aiding this growth is the UK government’s recent implementation of a streamlined Electronic Travel Authorisation (ETA) visa scheme. Initially introduced for Qatari nationals in 2023, the scheme, which reduces bureaucracy for international travel and business visits to view assets, will be extended to include nationals of Bahrain, Kuwait, Oman, United Arab Emirates, Saudi Arabia, and Jordan starting February 13.
However, while the ETA scheme may assist in facilitating investment, it won’t be the primary driver of deals. “The ETA scheme may add some assistance but won’t be the main thrust behind the majority of decision-making,” said Simmons. Instead, he advises potential investors to tread carefully, highlighting the importance of partnering with the right advisors and being aware of the details in dealmaking.
As Gulf investors continue to grow more sophisticated in their investment strategies, the UK real estate market can expect to see continued interest and investment from the region in 2024.