The United Arab Emirates, an ideal destination for investors
While some of you prefer to be employees, others aspire to stand on their own by starting a business and achieving their goals.
Thus, if you are considering setting up your company abroad, choosing to establish yourself in the United Arab Emirates is the best choice you can make.
The United Arab Emirates offer an exceptionally favorable business environment for entrepreneurs, along with considerable tax benefits. Excellent infrastructure, combined with professional expertise and personalized services, gives the United Arab Emirates a competitive advantage over other countries around the world.
Why set up your business in the United Arab Emirates?
Economic stability
The United Arab Emirates are the 25th most competitive economy worldwide, according to the 2019 Global Competitiveness Report. They rank first among MENA countries and work hard every day to improve this position by diversifying their national income. The characteristics of the United Arab Emirates' economy include:
- A strategic location
- Strong financial reserves
- Strong international relations with the rest of the world
- Consistent public spending on infrastructure, digital transformation, and innovation; the United Arab Emirates do not hesitate to invest in modernizing the country
- Progressive economic diversification policy
- More than 45 multi-specialty free zones across the United Arab Emirates
- Increase in foreign direct investment (FDI)
Ease of doing business
First of all, it should be noted that doing business in the United Arab Emirates is easier than anywhere else in the Middle East. The United Arab Emirates offer a highly favorable business environment for investors. Excellent infrastructure combined with professional expertise and personalized services gives the UAE an advantage over other countries in the region and around the world. These are the reasons why people choose the United Arab Emirates to set up their business. The United Arab Emirates ranked 16th worldwide, according to the World Bank's 2020 report on the ease of doing business. Here is the UAE's ranking in various areas:
- 1st worldwide for "access to electricity"
- 3rd worldwide for "obtaining construction permits"
- 9th worldwide for "contract enforcement".
- 10th worldwide for "property registration".
A wide variety of commercial premises
The UAE offers the opportunity to do business throughout the country: on the mainland or in a free zone. Location options include free zones, industrial zones, and commercial buildings.
- More than 45 free zones exist in the Emirates and offer foreign entrepreneurs the possibility of 100% foreign ownership;
- Since June 2021, mainland business regulations have also allowed 100% foreign ownership for 122 economic activities across 13 different sectors;
- The United Arab Emirates offer state-of-the-art industrial and commercial zones in each Emirate;
- They host high-level conferences, international exhibitions, and trade and investment-related events. This year, Dubai hosted the Expo Dubai 2020 World Expo.
Talented and skilled workforce
The talent and workforce of the United Arab Emirates are among the most competent in the world. Its multicultural population strengthens workforce productivity and creativity.
- The country's official language is Arabic, while English and other major languages are also widely used.
- The United Arab Emirates has launched a new visa system, attracting a skilled workforce in the healthcare, science, technology, and culture sectors.
- The United Arab Emirates aims to become the leading incubator for highly qualified professionals and talented human capital in dynamic economic sectors.
Investment incentives
The most attractive investment incentives are as follows:
- Up to 100% foreign ownership in Free Zones and on the mainland
- 100% foreign ownership in 122 economic activities across 13 sectors on the mainland;
- There is no personal or corporate income tax on your income and earnings: TAX-FREE, everything you earn is yours;
- Repatriation of 100% of profits;
- An efficient visa system allowing for a renewable 10-year residence visa;
- Competitive financing costs, high liquidity levels, and a strong banking system;
- No exchange controls;
- Strong appreciation and fully convertible currency;
- Low inflation;
- Low customs duties (between 0 and 5% for almost all goods);
- Support and assistance: very flexible and accessible authority. There is no excessive bureaucracy to deal with.
Open economy
The United Arab Emirates encourages private-sector growth and competition and enforces regulations prohibiting monopolies. It maintains close ties with major regional and international trade associations. The UAE
- has been a member of the World Trade Organization (WTO) since 1996
- is a member of the Greater Arab Free Trade Area (GAFTA), in which all GCC countries participate
- has concluded free trade agreements with Singapore and EFTA
- cooperates 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).
Political stability
The United Arab Emirates benefits from long-term political stability and an open diplomatic policy toward the world. The United Arab Emirates has more than 100 active diplomatic missions abroad and approximately 200 foreign diplomatic missions in the country. The United Arab Emirates:
- a member of the Gulf Cooperation Council (GCC), the Arab League and the UN and its agencies
- the third most peaceful country in the region according to the 2021 Global Peace Index, compiled by the Institute for Economics and Peace, a New York-based think tank.
Social stability
The United Arab Emirates is a safe place to live and invest. Tolerance and respect for diverse cultures are inherent in the United Arab Emirates. The United Arab Emirates ranks first in the Arab region in the overall index of the World Happiness Report 2020. The United Arab Emirates
- has a Minister of Tolerance and launched a Year of Tolerance and a National Programme for Tolerance,
- has adopted effective regulations to combat discrimination and hate,
- has hosted the meeting on human fraternity, with the aim of strengthening dialogue on human coexistence,
- has adopted effective regulations to support vulnerable community groups.
After reading this information, it is time to seriously consider establishing your business in the United Arab Emirates, particularly in Dubai.
Don't rush, and seek guidance from experts in company formation.
As a licensed company registration agent, we have THE solutions to help you establish your business correctly and make the registration process easier. Call us now at +971 58 514 2021.
