DP World has launched the Global Business Corporation (GBC), a new arm focused on supporting large companies in achieving their ambitions.
DP World said the initiative invites companies to enhance their international operating models with a base in the emirate.
GBC seeks to raise awareness of Dubai’s strengths and benefits as a location for high-value centralised business operations of large companies, such as headquarters, functional centres of excellence, and finance and treasury hubs, according to a statement. Additionally, GBC seeks to connect companies to business enablers across Dubai to help them scale up and operate seamlessly.
“With the launch of GBC, we plan to be standard-bearers for ambitious high-growth companies from around the world and provide them the support needed to achieve their strategic ambitions,” stated Sultan Ahmed bin Sulayem, Group chairman and CEO of DP World.
GBC can provide business set-up and licensing — under unique common law-based GBC Regulations — for large companies that want to set up a limited liability entity or branch in Dubai, according to a statement.
A GBC license permits a foreign or domestic corporate group to own and operate a business management entity, allowing them to build a wide range of functional expertise and regional management capabilities as well as intellectual property, based on their strategies, operational needs, and capital requirements.
GBC companies registered in the Jebel Ali Free Zone (Jafza) can also be used as holding companies, said DP World.
DP World said that GBC is complementary to the coalition of Dubai’s foreign direct investment advocacy and advisory groups.
