Dubai government launches new economic initiative for citizens of selected countries including Pakistanis

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Dubai government launches new economic initiative for citizens of selected countries including Pakistanis

DUBAI - Dubai government launches new economic initiative for citizens of few countries including Pakistanis, media report had revealed.

Dubai has introduced its first ‘Virtual Policy’ to allow investors from across the world to do business there without acquiring a residence. Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, the Deputy Ruler of Dubai, announced this on Tuesday.

He said that the decision was in line with the ambition of Sheikh Mohammed Bin Rashid Al Maktoum, Prime Minister of the UAE and Ruler of Dubai, to build a ‘Virtual Commercial City’ in Dubai.

Under this initiative, interested firms will be issued a ‘Virtual Company Licence’ which will let them run their businesses digitally without any physical presence.

The owners can fulfill all the business-related requirements online, including the signing and submission of essential documents without having to appear in person. Note that the signatures are legally binding in the UAE.

The vision of Sheikh Mohammed Bin Rashid and the directives of His Highness Sheikh Hamdan Bin Mohammed have helped Dubai stand among the world’s best business environments in the world, he said.

According to the Deputy Ruler of Dubai, companies associated with the creative industries, technology and services sectors can apply for the license.