PHOTO
Dubai - The Links Group, one of the UAE's leading providers of commercial facilitation and advisory services, has welcomed the approval by the UAE Cabinet of the long-awaited insolvency law which aims to regulate accumulated debts, ease restructuring of companies and support troubled businesses.
Commenting on the progress of the draft law John Martin St. Valery, founding partner of The Links Group said: "Approval by the Federal National Council of the proposed insolvency law would strengthen business confidence in the region and attract more inward investment into the UAE. In our dealings with foreign companies the harsh penalties applied to defaulting businesses registered in the UAE has often been identified as a barrier to market entry.
With the draft insolvency law having been approved by the Cabinet, we are optimistic the FNC will also rule in its favour. Decriminalising bankruptcy and simplifying the process to help struggling businesses would make the UAE an even more attractive investment destination. It would also help to foster more entrepreneurship and innovation as the risk burden associated with potential failure would be significantly lessened."
The Links Group is a preferred partner of the Government of Dubai through a strategic alliance with the Foreign Investment Office (FDI) of the Dubai Economic Department. It works closely with foreign trade bodies and companies to help attract investment into the UAE.
-Ends-
About The Links Group
Established in 2002, The Links Group is a premier company formation specialist offering beneficial ownership protection to foreign companies entering the UAE and Qatar. It advises corporations and individuals on how best to structure a legal commercial presence in the Middle East that protects their ownership interests and affords clear succession planning.
The Links Group is the first company of its kind to be endorsed by the Government of Dubai through a strategic alliance with the Foreign Investment Office (FDI) of the Dubai Economic Department and provides an unrivalled portfolio of corporate services including nominee local partnerships, corporate administration and government liaison support. The Links Group difference is that foreign companies work with a highly structured board as their local partner as opposed to an unknown individual. This structure provides foreign businesses with a corporate entity to act as their nominee, local partner, shareholder or sponsor, thereby minimising the risks associated with appointing an unknown individual nominee and satisfying corporate governance requirements.
The Links Group has an untarnished track record with 300 clients, who represent combined annual revenues of over USD 5bn to their respective economies.
The Links Group is also recognised as a Dubai SME 100 company, a ranking of the top performing SMEs in the emirate, and an Arabian 500 company.
Press Contacts
Safia Archer
Mojo PR
Tel: +971 56 172 4570
Email: safia@mojo-me.com
Raw'a Al Shamaileh
Mojo PR
Tel : +971 55 155 5753
rawa@mojo-me.com
Follow The Links Group on:
LinkedIn
Twitter
LinksGroup
© Press Release 2015
