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 country became a hub for investors due to its diverse economy and tourism. The reasons why you should consider investing in this country are highlighted below.
The country is characterized by a diverse economy which is constantly growing. The country easily embraces new changes that lead to the growth of its economy. The growth has been witnessed in the tourism, science and technology industries. The main source of the economic success of the UAE is the petroleum industry. The Emirati government assigned a lot of money in the growth and development in the non-oil related industries. The larger amount of the money was allocated to the virtual technology industry to keep up with the new world inventions. The oil business has led to cheaper housing, water, electricity, and gas.
Most of the world’s trading transactions and commerce are found in this country. 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. Locating your business in this country is advantageous to you since you will be able to get a market for your goods in all the continents. Presence of spectacular air and maritime ports enables this country to host international trade. All these amenities make this country an appealing place to do business.
The taxing system of this country is quite low. As a way to increase the number of businesses in the country, the government imposes low taxes on the business people. It lacks foreign exchange controls, trade barriers and personal taxes thus encouraging international businesses. The major advantage you will accrue from locating your business here is the lack of income tax. It is made possible to employ people from all over the world due to the liberal labor policies present in this country.
In this country, you will get a range of technological solutions to use in your business. The telecommunication and IT of UAE has been praised over time. The modern facilities and infrastructure makes the country conducive to many business operations. There are cultural programs run by the government to cater for the international business people. Learning the language ensures that you can communicate well with the people in the country. The information that your employees learn enables them to interact with the people around effectively.