Dubai: Emirates First Group, a Dubai-based business set-up, and investment advisory, today launched e-First Global, its premium business set-up and investment advisory services at the Opus within Business Bay – to serve its growing number of premium customers and large foreign investors in the UAE economy.
The company, which is growing its operations in Dubai, is adding a number of branches to serve a growing number of clientele from across the world.
The immigration and business reforms – namely allowing foreigners to own a 100 percent stake in a mainland license without a local partner and the ten-year Golden Visa – in addition to the effective handling of the COVID-19 pandemic has encouraged a large number of wealthy people either to relocate to the UAE, relocate their business to the UAE or expand their businesses to the UAE.
Despite the COVID-19 pandemic, the total number of active businesses in the UAE exceeded 650,000 last year, according to reports.
The total number of business licenses in the UAE totaled 652,885 in June 2020, a rise of 4,201 compared to May 2020, according to statistics from the National Economic Registry of the Ministry of Economy.
The statistics also show that the number of registered licenses in Abu Dhabi, Dubai, and Sharjah reached 530,165, accounting for 81.2 percent of the total licenses in the UAE. In detail, the number of active businesses in Dubai totaled 300,000 at the end of June 2020, representing around 46 percent of the total number of businesses in the UAE.
In Abu Dhabi, the licenses registered in June 2020 totaled 145,660, accounting for 22.3 percent of the total while in Sharjah, the number of businesses reached 84,505, accounting for 13 percent. The rest of the licenses were distributed between Umm Al Qaiwain, Ajman, Fujairah, and Ras Al Khaimah.
The statistics also highlight the fact that sole traders accounted for around 41 percent of the total issued licenses, and limited liability companies accounted for 38 percent, and other legal forms of companies accounted for the rest.
The launch of e-First Global comes at a time when business activities in the UAE resumed fully with investor confidence reaching new heights.
“We have seen a sudden rush among foreign investors to set up businesses in the UAE. The demand for new business licenses went up in the last few months that necessitated the creation of a new premium business set-up and investment advisory services and we are happy to launch our VIP business services through e-First Global, part of the growing Emirates First Group of companies,” Jamad Usman, Managing Director, and Chief Executive Officer, says.
“The effective handling of the COVID-19 pandemic, rapid vaccination drive helped the UAE to return to normalcy – which turned the UAE into the safest place to do business in the world. As a result, a large number of businessmen and professionals have started to relocate to the UAE due to safety and also relocating their businesses to the UAE.”
Emirates First Group has so far helped set up more than 5,000 businesses in the UAE, mostly in Dubai, in the last five years. With an average investment of Dh100,000 in business set-up, office rent, employee recruitment, training, per company, this translates to a total investment of Dh500 million in five years.
Shahinoor Shah, Director of e-First Global, says, “We are one of the fastest-growing business set-up and investment advisory service providers in the UAE. Over the last five years, we helped more than 5,000 investors establish their businesses with Dh500 million worth of direct investment into the UAE – that makes us one of the largest business advisors in the region.
“Over the last five years, these companies have had economic impact worth more than Dh5 billion on the UAE economy through employing professionals and their business activities.
“At e-First Global, we have integrated a number of support services under a single window – to take care of all their investment needs including financial advisory, auditing, and accounting, etc., in addition to the government-related services.
“We have seen a rush among foreigners to either relocate their businesses to the UAE or expand their businesses into the UAE. This encouraged us to launch a new company to serve the elite clientele and offer them value-added services, including business advisory, office rents, visa, Emirates ID, finding a suitable home, business development, marketing, and networking services.
“Additionally, we also advise clients on the ten-year Golden Visa processing as well as exploring other opportunities. So, we are a one-stop service center for all the needs of the investors.”
Emirates First Group currently operates through six branches, including two branches of e-First Global – a new premium services brand.
