DIC is the enabler for the new economy. Much vaunted 100 per cent foreign ownership and tax free status 'guaranteed for 50 years' are certainly two incentives. The ability to lease land for 50 years is another. But it is the one-stop shop nature of DIC's services and regulatory structure that is the main draw. DIC offers a single entity with which to do business.
Company registration is easy and with zero bureaucracy.
The whole process takes 24 hours and all government clearances are processed through a single window. Flexible labour laws will ensure that industry needs for part-time and temporary labour are met. A 24-hour visa service and fast track immigration process for knowledge workers will ensure quick access to the required talent. Yet grumblings surfaced recently among prospective tenants that for a while put these claims in doubt. Some companies complained in private that the registration process took far too long, and that they have had trouble processing visas for employees.