Please share a brief about your brand and why you decided to set up base in the UAE?
CIG Business services (CIG) is a subsidiary of Capital International group of Enterprises LLC and is diversified into multiple businesses. With a legacy of over 15 years, CIG assists aspiring entrepreneurs in realising their dreams. We take pride in being one of the pioneers in the industry in providing startup advisory, business solutions, serviced offices, accounting and tax advisory, assistance for corporate bank account opening, marketing solutions, information technology services and corporate government liaison.
The leadership of the UAE has always believed in challenging the status quo, being innovative and providing state-of-the-art infrastructure, and an ecosystem that makes it the business hub of the world. We decided to have our headquarters in the UAE because of the forward-thinking leadership, strategic location, growing market and flexible taxation systems.
Do share a special message to the Nation as it celebrates the 50th year of its founding during the National Day celebrations this December 2nd.
As the UAE celebrates its 50th National Day, on behalf of Capital International Group, I would like to congratulate the citizens and residents of this great nation. We should continue to stay united and support the society to make life more meaningful.
In your capacity as the head of the brand, how has your firm contributed towards the sector, and the growth of the UAE?
Being in the industry for over 15 years and working closely with investors and liaising with government entities associated with foreign direct investment, we have played a pivotal role in promoting economic development by assisting over 25,000+ foreign firms, corporate and retail investors to set up their businesses in the UAE, injecting over $200 million since inception.
What are the challenges you foresee for your brand going forward?
The challenges are many, a few of which include staying abreast with constant changes in rules and regulations for investors; being able to adapt to market changes and alter and execute the plans just in time to ensure business does not incur loses. Meeting investor expectations of setting up a company with operational bank accounts to help run their business has become a challenge as banks are taking time to complete KYC and approve bank accounts for new investors.
In keeping with its remarkable achievements over the last five decades, how do you visualise the progress of the UAE over the next 50 years, and what is your personal message to the UAE entrepreneurial community?
Under the able UAE Leadership, the nation has always challenged status quo and ensured innovation in every possible sector. The trajectory of growth has been trending upwards over the last five decades now, and is still positive, which provides a stable, secured and conducive atmosphere for investors to set up their business and make Dubai a second home by investing in properties. State-of-the-art infrastructure creates a bubble and in order to be successful, I would advise aspiring entrepreneurs to ensure that they have a plan crafted towards with vision and execution of the plan. Given the cut-throat competition it is imperative to come up with an innovative idea that solves a problem that exists in the market, else it will be just another company providing service.
Over the next 50 years the roll-out of the following initiatives undertaken by the UAE Government will be something to watch out for:
- Granting citizenship and long-term residency to expatriates will act as a gamechanger that sets the foundation for sustained growth, boosting the country’s knowledge-based economy and its property market.
- The UAE’s space venture clearly shows the intention and conviction to focus on scientific and technological innovations.
- The adoption of blockchain and artificial intelligence technologies in various sectors will increase efficiency and help save cost.
