It is no secret that the UAE is considered to be a great place to start a business from abroad. We have all heard about this more than once and know about it for sure, but not everyone knows why this is so and what kind of privileges businessmen have here. Let’s dive into the world of business and analyze the business potential of the United Arab Emirates for foreigners. Go!
Why is Dubai a great place for business?
Dubai is the perfect place for business. The reason lies on the surface – the high solvency of the population. The thing is that the income of the middle class per year is about 83 thousand dollars. This is only the middle class, and there are also many of those whose earnings are in the millions. Such people often have inflated needs and are ready to generously pay for them. Why not include this strategic detail in your business plan?
By the way if you are a big lover of the United Arab Emirates or just getting ready to visit it, there is a great recommendation on how to make your trip much more comfortable. There you can find awesome car renting services, which are practically everywhere in the Emirates. For example you can use car rental in Sharjah, Dubai, Abu-Dhabi and some more places. Rental companies are a great opportunity to optimize your vacation. First of all, they save your money. Secondly, hiring a car gives you total freedom while traveling. Thirdly, there are a huge range of rental cars, you will definitely have your perfect one! Try it, you will not regret it!
Tax incentives available for business in the UAE
Three types of business can be registered in the Emirates:
Company in a free economic zone. There are about 50 free zones in the United Arab Emirates. Companies located in these zones are usually exempt from taxes, which is a huge plus for a business. However, organizations must comply with a number of requirements. For example, they cannot choose an office on their own, they need to rent an office in a certain business center with an area norm per employee.
A local company is subject to federal law. The company can work with both foreign and local markets and is required to pay a tax of 5%. Since 2021, the conditions have become even simpler: previously, at least 51% of the share of such a company had to be owned by a local resident, now this does not work.
Well, an offshore company is completely exempt from taxes. However, the company cannot operate in the UAE.
UAE interested in foreign business investors
Perhaps many of you are convinced that the economy of the modern Emirates is based on oil. Surprisingly, 95% of Dubai’s modern economy is not related to oil. Local authorities attract foreign businesses to diversify the economy. Rest assured, if you want to build a business in Dubai, you will be welcome here.
Competent employees
Dubai is partly famous for the fact that so many young professionals come here to start a career in a developed country. That is why Dubai is known for its mixture of cultures. People from all over the world come here to work, including graduates of international programs and prestigious universities. Therefore, you can be sure that there are definitely a lot of competent specialists here.
Exhibitions as an advertising tool
There are many business exhibitions held in the UAE. Thanks to it entrepreneurs often get acquainted with suppliers and buyers and easily find customers, because, according to experts, in Dubai people from the business sphere prefer personal communication rather than commercial offers and tenders.
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As you probably noticed, there are really awesome conditions for those who want to start a business in the United Arab Emirates. Learn more and create your business! Don’t waste your time!
