Starting a business is scary for most people owing to the risks incurred during the startup and growth. However, this is not the case in the UAE, seeing that more businesspeople keep investing in different sectors. This makes the country the perfect place for local, regional, and global organizations to start and grow. The country provides a favorable environment for investors with many friendly policies, economic stability, market sustainability, as well as tax exemption for foreign businesspeople.
Why You Should Consider Investing in the UAE
The UAE is known as a global business hub where international investors enjoy many benefits. The country offers many business opportunities and deals as well as free trade zones. We gathered a list of factors that make investing in the UAE a lucrative deal.
Rapid Economic Growth
The UAE is a world leader when it comes to a sustainable economy thanks to its consistent growth and market stability. This is what makes the economy unique and successful. Another reason for this growth is that the country has multiple businesses, for instance, logistics, oil trade, tourism, trade, and transportation these account up to 60% of all the businesses.
The legal framework to follow before establishing and after launching your business is easy to understand and friendly to people from all over the world. For instance, Dubai Labor law under the Ministerial Resolution No. 46/1 of 1980 indicates that women can be employed between 10 PM and 7 AM. The city’s corporate law does this to attract new and prospective investors. In addition, investment laws keep improving to create a favorable environment for different investors.
The best thing about investing in the UAE is that the policies that regulate labor and are very accommodative of both local and foreign workers. This makes employing local and international workers effortlessly. If you are confused, you can consult a corporate lawyer Dubai office or whichever city you reside to get more insights. The flexibility of these laws makes it easy to access manpower. Entrepreneurs know that for a business to succeed there must be a team of skilled workers.
A country’s infrastructure determines the types and success of businesses. For instance, most enterprises in the UAE rely on cargo as well as import-export, while some stick to construction and IT. The presence of sophisticated business structures and venues, as well as seaports, makes UAE an excellent place to invest any business. The infrastructure is highly developed and consists of state-of-the-art structures and services.
Apart from supporting many local businesses, the UAE government also supports international investors. This means that the promotion of every enterprise is done comprehensively to reach as many people as possible. The Department of Economic Development responsibility is to form agendas, make policies, and support investors to boost business growth. This department also ensures that there is enough support for small and mid-sized business to help them become more innovative. Remember to follow Dubai Labor Law or the laws of your city to ensure that your business runs smoothly.
Free Trade Zones
The UAE has many free trade zones which have their import and tax regime governed by their framework. There are several free zones in the UAE, for instance, Dubai Abu Dhabi, Ras Al Khaimah, and others. A free zone can be a seaport, airport, or a mainland free zone. The exemptions at these zones include complete ownership of the business, import, and export tax exemption, complete reparation of profits and capital, no personal income taxes, as well as help recruiting labor.
It is no doubt that the UAE’s leaders have transformed the region into an international business hub. These visionary leaders support business inventions and trends to help them thrive in the present and future. This is the reason why the Emirates lead not only in infrastructure and technology but also in businesses.
The UAE is home to expats from all over the world; this means that this where you find cultural diversity and different lifestyles. Although the Emirates are growing fast, the region is safe, that is why more investors and tourists come here every year. Apart from learning and respecting different cultures, you also get a new perspective on life.
The reasons above show you that starting and conducting business in the UAE is easy for both locals and foreigners. Other reasons are that you will pay zero taxes and minimal import duty. You will enjoy the free trade agreement of the UAE, and don’t forget that the country is strategically located which makes it convenient for investment.
Many people think of The UAE as a tourism destination; however, it is also the best region to make your investment. The government is very supportive, and the laws are easy to understand. The free trade zones allow you to access tax-free goods.