Reasons to Own a Business in the UAE
There seven emirates that constitute the United Arab Emirates offer exemplary business advantages to investors. The newest innovations and modernity are present in this country. It was ranked as one of the wealthiest states after oil discovery in the region. The attraction of investors to this country is as a result of the diversity in economy and tourism. Here are some of the key benefits of owning a business in the United Arab Emirates.
The country is characterized by a diverse economy which is constantly growing. The UAE is open to new ideas in the development of its economy as seen in the recent years. It has witnessed significant growth in the tourism, science and technology industries. The petroleum sector is the biggest contributor to the economic success of this country. The government has invested in developing the industries which are non-oil related. The larger amount of the money was allocated to the virtual technology industry to keep up with the new world inventions. The presence of oil has resulted in lower costs in housing, water, electricity, and gas.
The world’s trade and commerce is centralized in the UAE. Some of the most important trade and commerce routes in the world are found in this country. Since centuries ago, UAE was a world-class trading hub. You will get a chance to market our goods in the entire world once you set your business here. The country has invested in advanced air and maritime ports to ensure they cater for all international traders. You will be able to easily carry out your business in this countries with the presence of these amenities.
The taxing system of this country is quite low. The government gives incredibly low taxes to business people doing business in their country. The growth of the international businesses located in the country is influenced by the absence of foreign exchange controls, trade barriers and personal taxes. The major advantage you will accrue from locating your business here is the lack of income tax. The liberal labor policies makes it easy for this country to recruit employees to form any part of the world.
The country owns the latest technological inventions. The telecommunication and IT of UAE has been praised over time. You will never get problems in handling your business due to the modern facilities and infrastructure present in this country. There are cultural programs run by the government to cater for the international business people. You will find it easy to interact with the people of the UAE once you learn their language and cultures. Your employees are equipped with this information to enable them to interact efficiently with their Emirati counterparts.