No minimum balance for new firms in the UAE
Companies will no longer need a minimum of...
August 10, 2009 2:04 by Aarti Nagraj
Companies will no longer need a minimum of AED150,000 to begin operations in the UAE, as the federal law demanding it has been amended by the UAE President, Sheikh Khalifa bin Zayed Al Nahyan. The law was modified to reduce the cost of setting up new businesses in the country, says 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 thus, attract more foreign money to the UAE.
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