While many of the provisions within the new companies law will benefit bigger companies, some changes are expected to help out smaller enterprises, experts say.
Under the previous legislation some aspiring small-business owners struggled to pay a minimum Dh150,000 (US$40,835) of capital needed to launch their ventures.
"Funding is very important for entrepreneurs," said Jassem Mohammed Hassan Al Bloushi, the chairman of the Sharjah Tatweer Forum, which is hosting a conference for entrepreneurs this month.
The Government scrapped its Dh150,000 minimum capital requirement a little more than two years ago, said Lubna Qassim, the director of the economic legislations department at the Ministry of Economy. Still, a specific provision in the new law now clearly states it will not identify a set minimum amount of capital needed to set up.
"Raising the initial capital is not always easy for everyone," said Vishnu Deuskar, the managing director of Salvus Strategic Advisors, a business consultancy in Dubai.
"[The new law] will make it that much easier."
Small companies looking to create a local brand presence are also expected to benefit.
The new law entrusts the Registrar of Companies at the Ministry of Economy to supervise the record of brand names for different types of companies across the emirates "in order to avoid repetition among them".
Previously, experts say, some companies could have started a business then struggled later if a competitor tried to mimic their success by opening a venture with the same - or very similar - brand name.
nparmar@thenational.ae
COMPANY%20PROFILE
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UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
Company%20Profile
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The specs
Engine: 3.9-litre twin-turbo V8
Power: 620hp from 5,750-7,500rpm
Torque: 760Nm from 3,000-5,750rpm
Transmission: Eight-speed dual-clutch auto
On sale: Now
Price: From Dh1.05 million ($286,000)
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
The Details
Kabir Singh
Produced by: Cinestaan Studios, T-Series
Directed by: Sandeep Reddy Vanga
Starring: Shahid Kapoor, Kiara Advani, Suresh Oberoi, Soham Majumdar, Arjun Pahwa
Rating: 2.5/5
Getting there
The flights
Flydubai operates up to seven flights a week to Helsinki. Return fares to Helsinki from Dubai start from Dh1,545 in Economy and Dh7,560 in Business Class.
The stay
Golden Crown Igloos in Levi offer stays from Dh1,215 per person per night for a superior igloo; www.leviniglut.net
Panorama Hotel in Levi is conveniently located at the top of Levi fell, a short walk from the gondola. Stays start from Dh292 per night based on two people sharing; www. golevi.fi/en/accommodation/hotel-levi-panorama
Arctic Treehouse Hotel in Rovaniemi offers stays from Dh1,379 per night based on two people sharing; www.arctictreehousehotel.com
Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
Army of the Dead
Director: Zack Snyder
Stars: Dave Bautista, Ella Purnell, Omari Hardwick, Ana de la Reguera
Three stars
COMPANY%20PROFILE
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