Business Setup in UAE
The United Arab Emirates (UAE) is a federation of the 7 emirates of Dubai, Abu Dhabi, Sharjah, Ras al-Khaimah, Ajman, Fujairah, and Umm al-Quwain. In the Gulf Cooperation Council (GCC), the economy of the UAE is the most diversified. A country that was once reliant on the export of its abundant oil reserves to run its economy now draws merely a minority of its GDP from the same, having taken to business and tourism for its economic progress. So much so, that the UAE is one of the biggest business hubs in the world, with its most populous city Dubai acting as a premier global city and a preferred destination for entrepreneurs, investors and tourists alike. All this has been possible as a result of the market-friendly economic policies of the UAE government over the last 3 decades, fostering foreign investment, sustainable development, innovation, and research.
Why Set Up Your Business in UAE?
UAE is a developed economy that offers a favorable business environment, world-class infrastructure, nifty amenities, flexible government norms, and efficient quality services to all incoming businesses, irrespective of their country of origin. Business setup in UAE is a futuristic and insightful business decision for the following reasons:
The UAE is a growing and diversified market with high global demand for imports and exports, and vast opportunities for suppliers.
The country bears a strategic geographic location in a resource-rich region
The UAE has easy access and global connectivity with over 90 airlines and 170 shipping lines
Above all, the commerce in the UAE is based on free trade barriers (no quotas or exchange controls)
The country levies no tax on personal, capital or corporate income, and allows 100% repatriation of capital and profits
The real estate and freight charges are competitive
There are no currency restrictions on the exchange of money
The energy supply is abundant and low-priced
The populace in the country is educated and skilled, so the place is favorable from the standpoint of hiring workforce – not that there are any restrictions on hiring foreign nationals
The transportation system throughout the UAE is well developed
The infrastructural advancement in the UAE is no secret – its plush real estate, state-of-the-art telecommunication systems, and dependable power supply & other utilities are a fertile breeding ground for business entities
There is top-notch accommodation for residential and office purposes, with cutting-edge venues for exhibitions and conferences
The financial and services sector in the UAE is remarkably developed, especially suited to complement the business milieu in the region
The nation has a cosmopolitan lifestyle with first-rate educational institutions, medical facilities, hotels, and shopping complexes
