Why UAE Is Perfect To Setup Business?
The UAE has one of the most liberal trade regimes in the Gulf region and attracts strong capital flows from across the region; UAE is focused on economic diversification in trade, logistics, banking, tourism, real estate and manufacturing and provides opportunities in various industries; UAE has a well-established infrastructure, strong banking system and a stable political system; Although there are restrictions on company ownership by non-GCC nationals, the UAE also provides for a window of free trade zones that can allow 100% foreign ownership and a nil taxation regime. UAE provides a tax favourable environment for most industries; There are no exchange control restrictions and it is possible to have unrestricted repatriation of income and capital; UAE’s culture is driven by Islamic traditions, however, with over 150 nationalities, expatriates are able to practice their own cultures; and UAE provides a safe and secure family environment with one of the lowest crime rates in the world.
The UAE is the 30th largest economy in the world 1 and No.2 in the Middle East and North Africa. The UAE ranks 33rd out of 183 countries for the overall ‘Ease of Doing Business’ benchmark June 2011. Some 80% of Fortune 500 companies (including all of the top 10) have established a presence in UAE according to The Economist, and the UAE’s 25 plus free zones are now host to numerous multinational and regional companies – including over 6,400 companies from over 120 different countries located in Dubai’s Jebel Ali Free Zone. UAE’s culture is rooted in Islamic traditions. Courtesy and hospitality are amongst the most highly prized of virtues, and this is reflected in the warmth and friendliness of the local people. UAE society is marked by a high degree of tolerance for different lifestyles. It is a liberal society by any measure and is rated as among the safest in the world. Foreigners are free to practice their own religion, and the dress code is liberal. Women, whether married or single, do not face any form of discrimination and may drive, work, and move around unescorted. In spite of its rapid economic development in recent years, UAE remains closely linked to its heritage.
The UAE has 23 local banks and 28 foreign banks. These financial institutions, through their branch networks and affiliate service centres, cater to the financial needs of the UAE population of approximately 8.2 million. Besides conventional banking, UAE also offers Islamic banking which has seen a tremendous growth in the recent years. All banks offer Automated Teller Machine (‘ATM’) facilities which operate on a central ‘Switch’ system. A customer of a particular bank can, therefore, use any other bank’s ATM for conducting banking transactions. Foreign currency accounts can be held by residents domestically and abroad. Accounts in domestic currency (AED) can be held in domestic banks’ overseas affiliates and are freely convertible into foreign currency.
You would have the flexibility to rent office anywhere you wish to.
No Visa Limitations
There is no limitation on visas
Great Expansion Opportunity
Gives you a great opportunity to expand your business by forming more branches
No Minimum Capital Requirement
No requirement of minimum capital investment
No Office Space Required
There are no restrictions when it comes to office space requirement
Easy Access TO Foreign Investors
Office space is easily accessible to foreign investors
These were some of the benefits associated with investing in Dubai. So, if you are looking to set up a business and are having doubts about which place to invest in, then Dubai might just be the most favourable option. Moreover, we as Innoserv makes your dream of setting up your business in Dubai come true. The experts working in our company would help you invest efficiently in Dubai and advise you the various strategies to grow your business and be successful.