Sharjah Unveils World’s First Ai-generated Trade License For Rapid Business Setup

By Author: The Law Reporters
Total Articles: 29
Comment this article

Sharjah has launched the world’s first AI-generated trade licence, allowing applicants to complete the process in just three minutes. This cutting-edge technology, developed in partnership with Microsoft, Invest in Sharjah, and Sharjah Publishing City, is designed to streamline business licensing for investors.

Mohammed Juma Al Musharrakh, CEO of the Sharjah FDI Office, announced the roll-out of the new system, highlighting its efficiency for those looking to establish businesses in Sharjah Publishing City. “This is a breakthrough in business setup technology. The AI system captures data from passports and offers ChatGPT-like assistance, guiding applicants through the entire process,” said Al Musharrakh.

The system not only provides guidance on legal structures and company setup but also directs users to a payment gateway once they agree to the terms. Applicants can apply for any permissible business activity within Sharjah Publishing City, with plans to expand the service to other free zones and eventually the mainland.

Al Musharrakh made the announcement at the Sharjah Investment Forum, emphasizing ...
... that this new technology will make Sharjah Publishing City a premier destination for business setup. Investors can now obtain trade licences without visiting any offices, through the Sharjah Investors Services Centre (Saeed) website.

Sharjah’s foreign direct investment (FDI) reached Dh2.7 billion in 2023, and Al Musharrakh expects at least 10% growth in 2024, focusing on sectors like technology, agritech, renewable energy, tourism, education, and healthcare. The region is targeting investment from China, India, BRIC countries, and nations that have signed Comprehensive Economic Partnership Agreements with the UAE.

Source : https://thelawreporters.com/