close

policy

We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Agree
Disagree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Gender
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

 
 
Latest News

Will the UAE’s new law change business?

Will the UAE’s new law change business?

The country has scrapped the AED150,000 minimum requirement for a company to start a business here. According to analysts, more has to be done.

0

August 11, 2009 12:16 by



The decree announcing that companies will no longer need a minimum of AED150,000 to begin operations in the UAE was announced on Sunday, by the UAE President, Sheikh Khalifa bin Zayed Al Nahyan. The federal corporate law was amended to reduce the cost of setting up new businesses in the country, said the UAE’s official news agency WAM.

The new decree hopes to reduce bureaucratic procedures, decrease the process time to set up private businesses in the country, and therefore attract more foreign money to the UAE, says the report.

But will the decree manage to have a huge impact in the country?

“The amendment is very timely and will boost business confidence in the economy,” says

Samir Pradhan, senior researcher of the GCC Economics & Gulf-Asia program at the Gulf Research Center.

“In the long run, this would add value to the overall economic diversification with long term stability in terms of declining dependence on cyclic economic sectors such as real estate and construction. Moreover, this would encourage young Emirati entrepreneurs to actively participate in the country’s economic development,” he adds.

The UAE, especially Dubai, has been hit hard by the financial crisis, and many private companies, especially in the real estate sector, have been forced to reduce investments and close projects. But according to Pradhan, the decree has not necessarily been prompted by the slowdown.



Pages: 1 2

0

Tags: , , , , , , ,

Leave a Comment