More Foreign Investors Set Up Business in UAE Each Year
The United Arab Emirates, better known as the UAE, is the hub of the middle east. Dubai has certainly come a long way transforming itself from a local trading community to a first-class city. The nation’s success and innovation encourage entrepreneurs from all over the world to set up business in UAE. It’s strategic locations is among many of the reasons why UAE is such a popular business destination, especially because it allows entrepreneurs an access to 2.2 billion consumers.
With a unique centralized time zone which combines both the East and West business hours, the UAE’s capital Dubai is the perfect gateway and preferred business hub for the world’s import and export business markets, This is why when you set up business in the United Arab Emirates you will achieve lucrative opportunities.
The United Arab Emirates Has a Growing and Diverse Economy
The UAE in general has been one of the most successful economies within the GCC region. Dubai especially, enjoys a strong economic performance, increase in trade and export revenue. Other sectors which have enjoyed a strong increase in revenue include manufacturing, transport, communication, hotel and restaurant revenues.
The Stable Legal Framework
Other benefits when you set up business in the UAE include its investment laws, regulations, and incentives. These are continuously improving to encourage further foreign investment into the country. Dubai is one of the first places within the UAE that opened its property market to foreign ownership, followed closely by Abu Dhabi.
Dubai dominates the cargo and re-export markets in the United Arab Emirates, thanks to the size and sophisticated infrastructure of its Port Rashid and Jebel Ali Port. The latter is one of the most modern facilities and one of the busiest ports in the world with 63 berths, including an economic free zone which is part of the Economic Zones World.
Dubai also boasts two major airline carriers, catering to more than 120 destinations as of 2012.
Cost-Effective Available Manpower
Thanks to the country’s liberal labor policies, it is easy for entrepreneurs to recruit employees from almost anywhere in the world.
The Free Zones
In the UAE, Dubai alone is home to over 20 Free zones which cater to the various industrial and business clusters. Foreign investors can enjoy a 100% foreign ownership of their companies, and the absence of income tax for both mainland registered companies and those registered in the free zones continues to be one of the biggest incentives for foreign companies establishing in Dubai.
Other General Advantages When You Set Up Business in UAE
Other advantages when you set up business in UAE include:
- very low import duties
- double taxation agreements
- free and open trade with more than three-quarters of goods entering the emirate duty-free