The Department of Economic Development (DED) in Dubai and Servcorp have signed a first-of-its-kind agreement to facilitate international investors’ business activity and company formation in the UAE.
The memorandum of understanding (MoU), signed by Omar Bushahab, CEO of Business Registration and Licensing (BRL) sector in DED, and Laudy Lahdo, General Manager for Servcorp in the Middle East, envisages a joint process to allow investors to complete their business transactions within the least possible time.
Speaking about the agreement, Bushahab said: "Concerted efforts and public-private partnership initiatives are critical to adding value to the economy of Dubai and hence, we are pleased to be partners with Servcorp as it would improve efficiencies and create an exceptional service environment aligned with the best international standards and practices in Dubai for the sake of businesses worldwide.”
According to the new partners, investors will be allowed to reserve trade names, obtain initial approvals and renew or cancel their licenses in Dubai through 144 Servcorp service centers in 22 countries including the UAE, US, Australia, UK and Singapore.
The Servcorp network will provide a number of online business registration and licensing services of DED which include trade name reservation, renewal of reserved trade name, license renewal, initial approval, registration of new e-account, appointment (reservation, amendment or cancellation), print license, amendment of license holder data and any other technical service.
Lahdo explained: “Servcorp clients now have a distinct competitive edge.
“In addition to having access to fully furnished offices at the most sought after addresses in Dubai and across the world, as well as benchmark technology, they now will have an in-house specialised team to assist them with their licensing requirements.”For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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