Investment laws, regulations and incentives are continuously improving to encourage further foreign investment. This includes the introduction of foreign ownership of land and stocks – Dubai became the first emirate within the UAE to open its property market to foreign ownership, followed by Abu Dhabi.
Company Law: The UAE Federal Cabinet introduced a new Company law introducing relaxed rules on foreign ownership, simplifying the process of starting business in the UAE and making the investment environment even more attractive.
Intellectual property rights: The UAE is a regional leader in the protection of Intellectual Property Rights, with continuous improvements of copyright, trademark and patent laws. The rate of software piracy in the UAE is regarded as one of the lowest in the Middle East and Dubai is acknowledged as the best performer.
Dubai set up several free zones to provide excellent facilities for trading, manufacturing, services and other industries. With the creation of ‘Dubai Internet City’, Dubai became the e-commerce capital of the Middle East with over several hundred IT companies. The ―Dubai International Financial Centre‖ – DIFC – was established as a Financial Centre in 2004, strengthening Dubai‘s position in the world‘s financial markets.
Dubai’s re-export trade is enhanced by the city’s role as a major regional shopping centre. It acts as a major entry port for the Gulf and beyond, with re-exporting accounting for a major portion of the import sector.