UAE is famous in the world for its bustling economic activities. A country based on its oil economy, in a short period of time, has achieved global recognition. Compared to mega economies, the UAE has achieved this success in a short span by utilizing its resources and integrating futuristic policies. It has also got some very interesting achievements to its credit such as;
• Building World’s Tallest Building – Burj Khalifa, Dubai
• World’s highest suspended hotel suite - St. Regis Abu Dhabi
• World’s longest driverless metro network – Dubai
• World’s largest shopping mall – Dubai Mall
• Ranks 7th globally in the IMD World Competitiveness Booklet 2024
• UAE: Top Ten Global Trending Destinations
Here are some of the reasons why the UAE is considered a safe and trending place to set up a business.
Tax Benefits
One of the major reasons why investors love to set up their businesses in UAE is the exemption from numerous taxes. UAE has established several tax-free zones in the country that offer businesses to operate without paying hefty amounts in taxes. Moreover, free zones established in UAE also offer 100% foreign ownership to business owners. Apart from tax-free zones, UAE has also given exemptions to certain businesses from corporate tax such as for Employment activities, Real estate and other investments, and Non-commercial activities. To discuss tax net or application of VAT/corporate tax on your business, reach out to us at Global Business Group.
Strategic Location
UAE is located between Europe, Africa, and Asia providing easy access to all major international markets. It is also well-connected with Middle Eastern countries creating a a flow of business activities across multiple continents. Its prime location creates massive opportunities in logistics, trade, and business expansion.
World-Class Infrastructure
UAE invests heavily in developing top-notch infrastructure. From creating world's tallest building to the deepest pool, UAE has created wonders of infrastructure. It has also created the world’s first massive man-made island called The Palm. All seven emirates of UAE are well-connected with a spread of highways making the commute easier across the country. Moreover, it features several airports, dry ports, and sea ports to support heavy economic activities in the region.
Stable & Futuristic Government
The government in UAE is composed of futuristic leaders who are intensively vested in developing their country according to modern lines. The country has launched bold and futuristic initiatives such as UAE Net Zero 2050, Dubai 3D Printing Strategy, Mars Mission – Hope Probe, Artificial Intelligence Strategy 2031, and many more.
Safety & Security
UAE is well-known in the world for its lower crime rates and safe living environment. Many business owners tend to shift their families to the UAE because of a pleasant environment. This is the reason why Over 90 per cent of people living in the UAE are foreigners.
Are you interested in setting up a business in UAE but don’t know where to start? Reach out to us and enjoy step-by-step guidance.