The UAE today ranks as one of the fastest-growing commercial hubs in the Middle East. Besides the country’s strategic geographical advantage, which provides global connectivity, luring investors and holiday-makers from around the world, its visionary government’s supportive initiatives help business communities across all industries thrive. We are here to help you effortlessly open your company and make the right choice on which type of company is right for you. Below are some additional benefits for companies and entrepreneurs in the UAE.
There are no income or capital taxes in the UAE
Except for oil and domestic banking, and no withholding taxes. Companies in Dubai can obtain further significant advantages from the absence of foreign exchange controls, trade barriers or quotas, making it an ideal location for business setup and company formation.
Ease of doing business
The UAE provides a highly conducive environment for businesses, ranging from startups and small and medium enterprises (SMEs) to multinational giants, operating in various sectors to grow and thrive. With over 200 nationalities and over 532,000 business licenses issued since the start of 2022 alone, the UAE is a thriving business environment.
Quick and simple steps of setting up a company in the UAE
An important factor behind the hassle-free business registration process is the location you choose for a company in the UAE. The main areas are categorised into mainland, offshore and free zone. While the mainland companies are onshore businesses registered under respective emirates, free zone enterprises are governed by differing and unique jurisdictions.
100% Foreign Ownership
Earlier, expats wishing to open a business in the UAE’s non-free zone areas would be required to partner with an Emirati sponsor who would mandatorily own 51% of the company shares. Now, however, foreign investors can have full company ownership and control over their business operations and finances, without having to worry about finding a trustworthy local partner.
This amendment made to the country’s Commercial Companies Law in early 2021 was hailed by the business community, boosting foreign investment and motivating more expats to settle in the UAE.
Quality of Life
The UAE offers expat residents a higher quality of life at low living costs, nurturing a vibrant multicultural environment. Voted as the world’s second safest country in 2021, the UAE also has provisions for long-term visas for expats, adding to the reasons people chose to work and settle here. Entrepreneurs, in particular, can apply for investor visas and long-term Golden Visas and easily sponsor their family members too.
Another recent announcement on the introduction of pensions, offered to government and public employees with a possibility of extension to the private sector too, came as a breath of fresh air for the expat community which makes up the majority of the UAE’s workforce. Therefore, you can rest assured you will find talented people with the appropriate skillset for your business – but we can also help you with that as well. Find out more on our Human Resources service page here.