Why start a business in the UAE
As the flourishing, ambitious, and fast-moving economy it is now, UAE has gone a long way. Furthermore, after spending a lengthy period as an employee, many professionals would like to transition into the role of an investor. Finally realizing our desire to start our own business, we are too tired of working and unwilling to change. Now is the perfect opportunity to take control of your career and make yourself a boss.
In this blog, we will share some benefitting reasons to start a business in the heart of the Middle East- The UAE.
A booming economy
The UAE boasts the Gulf’s most open trading regime. It has been an open economy with high per capita income and annual trade surplus for 40 years. Companies from all over the world are setting up shop in the UAE. UAE now has many start-ups and multi-million-dollar corporations. The wealthy emirates state provides solid financial conditions for all businesses, attracting large amounts of international capital, strengthening the economy.
The UAE government wants international investment to boost the economy. They have updated their legislative framework for foreign investment to help them do this. Except for criminal law, foreign nationals are subject to a different set of rules. Administrative procedures are streamlined. The paperwork is short, and the licensing and registration process is simple.
Services and Facilities
The UAE government has gone to great lengths to ensure foreign investors have no problems running their enterprises. A world-class business park, office space, warehouse, transportation, communication, and utility infrastructure has resulted.
It is no secret that workers worldwide migrate to the UAE, mainly from the Middle East and South Asia. As a result, business owners in UAE need not be concerned about staffing. Taxes are low, and earnings are high, making it a win-win situation for both firms and employees.
Big Tax Breaks
Because the UAE seeks to create a business-friendly environment in all emirates, foreign investors gain enormous tax breaks. Foreign investors are excluded from personal and company capital gains taxes. Compared to the rest of the world’s indirect tax system, the VAT regime in the United Arab Emirates (UAE) is significantly simpler and easier to comply with. Industries from all over the world flock to the UAE because of the country’s dynamic and transparent tax policies.
For several economic activities, the UAE has approved laws enabling 100% foreign ownership. Moreover, creating a strong business climate in the United Arab Emirates attracts capital to many industries. Local norms and regulations are clarified in free zones, and international best practices are incorporated into the UAE.
Continuity in Aviation
Transportation is vital for many business owners and executives trying to establish a business in Dubai. They check for flight frequency and airport accessibility, both of which are excellent in Dubai. Dubai offers seamless aviation connectivity for business travellers. That implies thousands of weekly flights and easily accessible international airports.
Global Market Access
This is a bonus for new businesses wanting to grow and obtain initial clientele. Since Dubai is a global economic hub, there are participants from practically every domain and industry. This benefits both B2B and B2C enterprises. With the UAE ranking 11th globally in terms of ‘ease of doing business,’ more and more players are setting up shop in Dubai. Trading firms thrive in areas with productive workforces and ports.
Ready to start your business in the UAE?
If so, prepare your company plan and contact us at MI Capital, which has helped thousands of business owners in this region. With our team’s global business knowledge and Middle Eastern experience, you can rest easy. We at MI Capital will take care of everything from registering your name to becoming a quiet non-acting partner in the company.