ENTREPRENEURSHIP

Detailed explanation-1: -The minimum age requirement is 18 to start a business in the UAE.

Detailed explanation-2: -As per the UAE’s updated Commercial Transaction Law, which is now in effect, it is legal for a resident of the country or any person of sound mind who attains the age of 18 to start a business or engage in trade.

Detailed explanation-3: -The law defines a child as any human being under 18 years old.

Detailed explanation-4: -You can apply in person at the Department of Economic Development in the emirate where you plan to establish business. Additionally, digital platforms are available to obtain a commercial license and establish a company online where applying with the necessary documents will lead to a license within minutes.

Detailed explanation-5: -Individuals aged 18 years are now permitted to practice business, compared to the erstwhile permissible age of 21, according to a new law. The UAE’s Ministry of Economy (MoE) held a media briefing on January 12, to introduce the Federal Decree Law No. 50 of 2022 on Commercial Transactions in the UAE.