Middle East Focus – February 2020
- DMCC introduces new companies regulations
- Sovereign launches market entry services for Saudi Arabia
- Ras Al Khaimah introduces Foundation structure
- Bahrain set to create 6,000 jobs by 2023
- UAE named regional hub for entrepreneurship
DMCC introduces new companies regulations
The Dubai Multi Commodities Centre (DMCC) introduced, on 2 January 2020, a new set of rules and regulations aimed at improving the ease of setting up and doing business in the free zone. Changes include increased flexibility around a company’s articles of association, the introduction of different classes of share and a new ‘dormant’ company status.
Ras Al Khaimah introduces Foundation structure
The Ras Al Khaimah International Corporate Centre (RAK ICC) announced the launch of a new ‘Foundations’ regime with the issuance of the RAK ICC Foundations Regulations on 15 December 2019.
Bahrain set to create 6,000 jobs by 2023
The Bahrain Economic Development Board (EDB) announced that it had attracted 134 companies to the kingdom in 2019, which it expected to result in a total investment of $835 million.
UAE named regional hub for entrepreneurship
The UAE remains the regional hub for entrepreneurship in the Middle East, attracting 35.5% of the pre-seed start-ups. It was followed by Egypt with 26.5% in sectors ranging from e-commerce, fintech, healthcare and marketplaces.
