There are a number of major benefits for international businesses who have a trading license in the UAE. Through growing demand and requests from our CEO Clubs Worldwide members, the CEO Clubs Worldwide has created a ‘Verified Business Set up’ division, supporting our members and working closely with them to open up businesses across the world.
With the focus firmly on Expo 2020 and the first CEO Clubs Worldwide meeting taking place in Dubai, the UAE is fast becoming one of the most attractive places to set up a company.
Growing and Diverse Economy:
The economy of Dubai is a dynamic and constantly growing one, which is why it is so attractive to companies from all over the world who are interested in company formation in an on shore location. This wealthy Emirate has a stable financial climate which helps a wide range of businesses from start-ups to multimillion dollar conglomerates to operate successfully.
An entirely different set of rules and regulations (except for criminal law) are applicable to foreign investors who want to set up business in Dubai. Paperwork is minimal and procedures are fast tracked so that it becomes extremely easy for company setup, licensing and registration.
The governing bodies of the Free Zones provide excellent infrastructure and warehousing, office spaces, power supply, and connectivity.
Availability of Manpower:
There is no shortage of manpower in the UAE and especially so in Dubai. Both skilled and unskilled labour flock to the UAE in search of opportunity as wages are high and taxes low, or non-existent. It is therefore easy for a new company to find the requisite manpower for their operations.
Investment Support and Promotion by The Government:
The government provides several pre-and post-support services to investors doing business in Dubai or elsewhere in the UAE, like help with documents, licenses, certificates, postcodes and so on.
There are several special areas within the UAE which have special tax customs and imports rules and regulations; these are called Free Zones. The QE2 will be one of these Free Zones. The special benefits of these Free Zones are:
- Complete exemption from import and export tax
- Possibility for complete foreign ownership of the company
- No corporate tax for up to 50 years
- Exemption from personal income taxes
- Possible to repatriate the entire capital and profits
- Support services like assistance with hiring, sponsorship, housing, and so on.
Generally, a Free Zone is meant for certain specific categories of industry and licenses are provided only to those companies functioning under those categories. Probably the most famous of these is the Dubai Airport Free Zone.
Open Trading Hub:
Being a member of the World Trade Organisation, Dubai encourages open trade and has established stable trade relations with several countries in Asia and Europe and North America. In fact, it is a kind of meeting point between the east and west as far as international trade is concerned.
Quality Lifestyle and Culture of Excellence:
Dubai is perhaps the most cosmopolitan of all the emirates within the UAE, thus making it a popular destination for tourism and business alike. Home to many of the world’s biggest brands, it is a shoppers’ paradise. Dubai also hosts several trade shows and exhibitions, allowing businesses to showcase their best to the world.