The UAE is considering introducing Golden & Silver Business Licences that would extend their validity to 10 years & 5 years, respectively, marking a departure from the typical one-year licence renewal process.

The Economic Integration Committee discussed these long-term licenses in a meeting attended by key officials such as Abdullah bin Touq Al Marri, Minister of Economy, and Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade.

The proposal includes offering these licences at competitive prices, with the aim of not only generating increased government revenues but also promoting business continuity and contributing to the country’s overall economic growth.

Recent efforts in the UAE have focused on speeding up the business licence approval process, like Dubai’s Instant Licence, which approves in five minutes for activities that don’t need external approvals.

The UAE already boasts a successful 10-year Golden Visa programme for investors, entrepreneurs, and other professionals, launched in 2019. The proposed golden and silver business licences are expected to make the country even more attractive to talent and businesses across the globe.

The Minister of Economy highlighted the UAE’s adoption of flexible and competitive economic policies, which have contributed to a conducive environment for business operations and investments, leading to a notable increase in the number of companies and foreign direct investment inflows.

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