The New Silicon Valley

The Middle East generates various stereotypes and perceptions from both sides of the spectrum. On one hand, it is considered to be a region with political tension and instability. On the other, it is looked as a home to affluence and exuberance. While there can be truths unearthed for each of these scenarios, the main point to note is that the Middle East is complex and diverse. Thanks to various global events taking place, the region will become more and more visible and potentially more attractive to businesses currently located outside of the region.

The economic models of many Middle Eastern countries have changed radically in recent years. Historically, these economies have built their wealth on the basis of oil, but as they have shifted their focus away from a model built on hydrocarbons, technology is emerging as a major priority in economic development.

Across the Middle East, foreign ownership laws have traditionally been relatively stringent; however, governments in the region have started to change this, making their economies increasingly accessible to foreign investors. For example, the UAE has recently announced plans to lift its 49% ownership restriction for foreign owners in certain industries, allowing foreign investors to own 100% of companies. This is also matched by Saudi Arabia, where restrictions are being lifted in a number of industries, and the Vision 2030 agenda is proactively opening up the economy to foreign investment.

There are trademark policies required for various e-commerce activities and cross-border sales. There are framework agreements for VAT depending on the market you're dealing with. This ensures tax compliance on taxable commodities and requires the application of a VAT number. Such regulations are scriptures for new business expansion and must be met. this edition is bringing together a list of such corporate business service providers, who will streamline your entire experience establishing your business in the land of opportunities.

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