Company formation in UAE is a good choice for investors and entrepreneurs from any corner of the world. Not only is business setup in UAE is easy, but it also has several benefits that will help your business throughout its lifespan. Especially, company registration in Dubai is popular right now thanks to the authorities who are trying to make the business world of the UAE more accessible to the rest of the world.
You might be thinking that why is the UAE suddenly being so inviting to foreigners since previously they did not even allow 100% ownership of businesses to them. This is because the government of the UAE is in the long-term process of changing the economic focus of the country from the oil and gas industry. The changes they are making to accomplish this plan are not only beneficial for the country but also for the businesses situated in the country.
So why should you bother leaving your home to company setup in Dubai, UAE? That is exactly what we are going to look into today. Here are seven reasons that make the UAE the best place to start a business right now:
1. Ease of doing business
First and foremost, it is easy to get started in the UAE. The barriers of entry into the markets of the UAE are low and oftentimes do not exist. The government is constantly working to remove any barriers created by existing firms in the market.
Even though there is steep competition in some of the markets of the country, corporate rivalry never exists. The whole country in general is very welcoming to new businesses right now.
The UAE is ranking up fast in the index for ease of doing business in the world right now. It ranks the first list of easiest countries to get electricity in. Starting a business and getting the necessary tools, to begin with, is made easy by the authorities in the country.
On top of that, there are numerous business consultancies all across the country. The Company Setup experts are ready to help your business in the UAE.
2. Attractive tax regime
The most attractive benefit of Dubai and the rest of the emirates are the lenient tax laws they have. For example, there are no taxes for corporate and personal incomes in Dubai. This means that the company, the owners, and the employees do not have to pay any taxes for their incomes in the country.
We all know how businesses all over the world go to great extents to avoid paying the exorbitant taxes of their respective countries. This is because taxes take up a good chunk of a company’s profit that could have been otherwise reinvested in the business.
3. Economic zones
Dubai has three economic zones, which are the mainland, the free zones, and the offshore companies. There are different economic jurisdictions that have their own advantages. While the mainland provides more freedom and scope to expand, the free zones offer more catered benefits to businesses in different sectors.
For example, the free zone Dubai Silicon Oasis provides various benefits to startups in the tech sector. Another free zone known as Dubai Healthcare City provides various perks and benefits for doctors and healthcare-related firms.
There are a few benefits that can be found in all the free zones in the UAE. For example, even before the amendments that allowed 100% ownership of mainland businesses to foreigners, free zones provided that perk. Free zone businesses also receive tax exemptions.
4. Access to worldwide talents
As the UAE allows 100% repatriation of capital, profits, and earnings back to the home country, skilled workers and professionals from all over the world come to work here. As a result, you can easily find the right match for the needs of your specific firm. It is a win-win scenario for the people looking for work here in the UAE and the people who own businesses here.
Businesses can also sponsor a number of visas depending on the size of their office space. That means after starting a business here, you can easily hire people from anywhere in the world and bring them over to the UAE by sponsoring their visas.
5. Strong infrastructure
Dubai is one of the most influential cities in the world right now. The same can be said of Abu Dhabi. The UAE in general has excellently built towns and cities. Businesses need strong infrastructures to thrive. It is one of the building blocks of an economy.
When a country has an astounding infrastructure it can easily import and export goods from all over the world. This in turn makes it very easy for businesses to source, produce, and sell their goods and services.
6. Versatile options for business structures
The UAE has many options in terms of business structures including the popular Limited Liability Company structure. Businesses with the Limited Liability Company structure are considered as separate entities and as a result, the personal properties of the owners as safe in case the company goes bankrupt.
Previously, foreigners could not be the sole owner of a business on the mainland. However, after some recent changes and amendments to existing laws, foreigners can start companies with the sole proprietorship company structure.
7. Stable and supportive government
Last but not the least, the economic atmosphere of the UAE is very stable. Businesses need a stable and dependable environment where they do not constantly need to worry about the future. Other than the business world, the quality of life in the UAE is very exquisite as well.
The healthcare system of Dubai and the rest of the emirates is the best in the world. Thanks to all the excellent environment of the country, both the business and personal life of people here are tension free.
How can Company Setup Consultants help you?
The Company Setup experts have established numerous businesses in the UAE over the years. They have the necessary experience and connections required to streamline the process of company formation in the UAE.
Our experts will not only help you start your business here in the UAE but also help you run the business after formation. Contact us today and hit the ground running.