The United Arab Emirates, an ideal destination for investors
While some of you prefer to be employed, others have the ambition to start their own business and achieve their goals.
So, if you are thinking of setting up your company abroad, choosing to set up in the UAE is the best choice you can make.
The UAE offers a more than favorable business environment for entrepreneurs with considerable tax benefits. Excellent infrastructure, combined with professional expertise and personalized services, give the UAE a competitive advantage over other countries in the world.
Why create your company in the United Arab Emirates?
The United Arab Emirates is the 25th most competitive economy globally according to the Global Competitiveness Report 2019. They rank first among MENA countries, and are working hard day by day to improve this status by diversifying their national income. Among the characteristics of the UAE economy are:
- A strategic location
- Strong financial reserves
- Healthy international relations with the rest of the world
- Steady government spending on infrastructure, digital transformation and innovation, the UAE does not hesitate to invest to modernize the country
- Progressive policy of economic diversification
- More than 45 multi-specialty free zones throughout the UAE
- Increased foreign direct investment (FDI)
Ease of doing business
First of all, it is easier to do business in the UAE than anywhere else in the Middle East. The UAE offers a very favorable business environment for investors. Excellent infrastructure coupled with professional expertise and personalized services give the UAE an advantage over other countries in the region and the world. These are the reasons for choosing the UAE to set up a business. The UAE ranked 16th in the world, according to the World Bank’s 2020 report on the ease of doing business. Here are the Emirates’ rankings in different areas:
- 1st in the world for “access to electricity”.
- 3rd in the world for “obtaining building permits”.
- 9th in the world for “contract enforcement”.
- 10th worldwide for “property registration”
A wide variety of commercial spaces
The UAE offers the opportunity to do business anywhere in the country: mainland or free zone. Location options include free zones, industrial zones and commercial buildings.
- More than 45 free zones exist in the UAE and give the possibility of 100% foreign ownership to foreign entrepreneurs;
- As of June 2021, the mainland business regulations also allow 100% foreign ownership for 122 economic activities in 13 different sectors;
- The UAE offers state-of-the-art industrial and commercial zones in each Emirate;
- They host high-level conferences, international exhibitions and trade and investment events. This year, Dubai was the host of the World Expo Dubai 2020.
Talent and a skilled workforce
The UAE’s talent and workforce are among the most skilled in the world. Its multicultural population enhances the productivity and creativity of the workforce.
- The official language of the country is Arabic, with English and other major languages also widely used.
- The UAE has launched a new visa system, attracting skilled labor in the health, science, technology and cultural sectors.
- The UAE seeks to be the leading incubator of highly skilled professionals and talented human capital in dynamic economic sectors.
The most attractive investment incentives are:
- Up to 100% foreign ownership in free zones and mainland
- 100% foreign ownership in 122 economic activities in 13 sectors in the mainland;
- There is no personal or corporate tax on your income and earnings: FREE OF TAX, everything you earn is for you;
- 100% profit repatriation;
- An efficient visa system allowing a 10-year renewable residence visa;
- Competitive financing costs, high levels of liquidity and a strong banking system;
- No exchange controls;
- High appreciation and fully convertible currency;
- Low inflation;
- Low tariffs (0-5% for almost all goods);
- Support and assistance: very flexible and accessible authority. There is no excessive bureaucracy to deal with.
The UAE encourages private sector growth and competition and enforces regulations that prohibit monopolies. It maintains close ties with major regional and international trade associations. The UAE
- have been members of the World Trade Organization (WTO) since 1996
- are members of the Greater Arab Free Trade Area (GAFTA), in which all GCC countries participate
- have free trade agreements with Singapore and EFTA
- is cooperating with GCC countries to conclude free trade agreements with the EU, Japan, China, India, Pakistan, Turkey, Australia, South Korea and the Southern Common Market (MERCOSUR).
The United Arab Emirates enjoys long-term political stability and a diplomatic policy that is open to the world. The UAE has more than 100 dynamic diplomatic missions abroad and approximately 200 foreign diplomatic missions in the country. The United Arab Emirates are:
- a member of the Gulf Cooperation Council (GCC), the Arab League and the United Nations and its agencies
- the third most peaceful country in the region according to the Global Peace Index 2021, compiled by the Institute for Economics and Peace, a New York-based think tank.
The United Arab Emirates is a safe place to live and invest. Tolerance and respect for diverse cultures are innate in the UAE. The UAE is ranked first in the Arab region in the overall World Happiness Report 2020 index. The United Arab Emirates
- have a Minister for Tolerance and have launched a Year of Tolerance and a National Tolerance Program
- have adopted effective regulations against discrimination and hatred,
- hosted the Human Brotherhood Meeting to strengthen the dialogue on human coexistence,
- adopted effective regulations to support vulnerable community groups.
After knowing this information, it is time to think seriously about setting up your company in the United Arab Emirates, especially in Dubai.
Don’t rush and get help from experts in company creation.
As a registered agent for company registration, we have THE solutions to help you set up your company properly and ease your way through the registration process. Call us now at +971 58 514 2021.