Dubai Plans New Ecommerce Free Trade Zone to Offer 100% Foreign Ownership

Dubai – the word itself brings to mind an image of sprawling cityscape with gravity defying skyscrapers, bustling tourists and lavish shopping districts. Mostly associated with wealth and business, almost all multi-national corporations operate in this wonder city. It is a major player in global trade and above all, one of the most lucrative business hubs on the planet.

Keeping pace with this trend, the UAE government has recently announced a new law that allowed for 100% ownership rights to foreign investors in many sectors, one of them being E-Commerce. What does this mean exactly? Let’s read on to find out.

The big event

Dubai is about to host the much-anticipated Expo 2020, a global trade summit that expects to bring a massive influx in foreign investment and business in Dubai. This has preceded many changes in the local laws ranging from business and investment to real estate and property. The EZDubai is a prime example of this change.

This massive 920,000 square meters free trade zone aims at inviting industries such as E-Commerce and other related ones. Developed by the Dubai state developer ‘Dubai South’, this e-free trade zone incurred a total expenditure of 2 billion AE Dirham. The primary motive behind it is to setup Dubai as a recognized e-commerce free trade zone on the global platform.

A welcome opportunity

Previously, the laws did not allow foreigners to own more than 49% of a business, the owner of the rest of the business were locals. This new offer of 100% ownership is very lucrative for big e-commerce entities that wish to operate with autonomy. It is equally beneficial if you want to set your e-Commerce business in Dubai afresh.

This means not just more opportunities for web developers but also for ecommerce web design Dubai companies. The ecommerce business in Dubai is currently on the stale side of the spectrum owing to the lack of new opportunities. Naturally, more ecommerce means more opportunities for web development companies in Dubai, not just the ones already present, but also new ones.

This new development presents a world of new opportunities to start ups and investment enthusiasts. Dubai is indeed a happening place to be in, and it is now your time to pilfer the rumble with 100% free ownership. So, gear up to setup your own E-Commerce business in Dubai and make the most of this one of the most promising e-free trade zones.