The UAE government has a transparent and business-friendly policy. If you wish to enter the UAE business world, you will need a local sponsor who owns 51% of your company. If not, you have to set up your business in the free zone and get 100% ownership and no fees.
Doing business in the UAE is easy and hassle-free. Visionary government has always been an investment and business policy and encourages foreign investment. In the United Arab Emirates, there is even an incentive for those starting a business.
Why is UAE the Best Place for Starting a business?
Minimal bureaucracy, simple procedures, and almost no taxes make UAE the best place. The United Arab Emirates government has the foresight that supporting new businesses will help safeguard their Economy in the long term. For all these reasons, Dubai and Adu Dhabi are ideal locations for company formation in UAE and offshore office opening.
Let’s quickly ponder upon the benefits of doing business setup in Dubai, UAE-
- Growing Economy of Dubai
Dubai’s Economy is dynamic and growing, which is why it is so attractive to companies from all over the world who are interested in starting an offshore business. This wealthy emirate has a stable financial climate that helps businesses of all sizes, from startups to multi-million dollar conglomerates, to thrive.
- Legal Framework
For foreign ex-pats looking to set up a business in Dubai, completely different rules and regulations apply (except criminal law). Minimal documentation and procedures enable quickly, making setup, licensing, business registration, etc., very easy.
- Enough Manpower
There is no shortage of working people in the UAE, and in particular in Dubai. All types of labor flock to the UAE in search of opportunities because of high wages and low or no taxes. Therefore, it is easy for new companies to find the workforce needed to do business.
- Support by Government
The government offers various pre and post-support services to investors doing business in Dubai or elsewhere in the UAE, such as B. Support with documents, licenses, certificates, zip codes, etc.
There are several special zones in the UAE where special tax duties and customs regulations apply. They are called free zones.
- 100% Ownership
UAE government allows 100 percent foreign participation in companies in the United Arab Emirates. It is part of the new international visa system “Investors and Talents,” which includes a 10-year long-term visa for special categories of professionals, business owners, and property owners.
The country has plans to give most of the companies a 100% stake in the company. So far, this incentive only applies to companies operating in free zones. Other companies must have a sponsor from Emirates with at least 51 percent of the shares.
This new 100% ownership rule and 10-year visa will result in better planning by business owners and a greater emphasis on training and retraining top talent, making it easier to attract the best talent in their field and making the UAE globally competitive.
- Tax Exemption
One of the main obstacles to starting a business in a foreign territory is developing an understanding of their tax laws and directing your business to have minimal administrative taxes.
Emirates offers a wide variety of business ownership models and tax categories. One of them stands out in the free zone with 100% tax exemption. There are a 0% corporate tax and income tax, a 30% discount on international film and television production costs. It means that you can maintain company profits without having to pay business taxes. Make sure to register your business under the free zone umbrella.
- Local culture and Heritage
Even though Arabic is the official language, English is the language most spoken in the business environment. The company is friendly and is considered a safe place to work.
You will have the opportunity to enjoy exceptional local cuisine and Arabic culture in the form of art, music, and architecture.
- Strategic Location
It is a saying that the cardinal rule of the real estate industry is the location. The same is true for other types of businesses that are just starting.
The UAE is strategically present between three continents, Europe, Asia, and Africa. There are about 1000 weekly flights to countries around the world.
On the one hand, China and India are important sources of raw materials and trade opportunities. On the other side of the UAE is the European Union, which is a significant trading partner.
The UAE economy expects significant growth and many initiatives aimed at attracting entrepreneurs and helping startups grow. If you want to start a new business in UAE but don’t know how? Take help from business setup consultants. They have extensive knowledge in setting up a new business in UAE. The experts will help you in the hassle-free business setup process in a concise time. Choose business setup consultants wisely.