United Arab Emirates (UAE), is a federation of seven emirates, an important regional center for the Middle East, North Africa and beyond with the most liberal commercial Gulf regimes and commercial capital.
Despite the global economic recession, the UAE economy remains to grow and the overall economic position is positive. The UAE’s oil and gas reserves are the top ten most important locations in the world. The country has about 6% of the proven oil reserves in the world. Currently, production is about 3.1 million barrels per day (BPD) and most are exported.
The main goal of doing this business in the guides of United Arab Emirates is to provide basic knowledge about the United Arab Emirates; Identify the key issues related to its economy, corporate culture, an overview of potential opportunities and initial research, market access, risk management and issues related to culture and language.
Company Formation in UAE, is quite easy and affordable depending upon business requirements, The UAE has Mainland Company Formation, more than 40 Free Trade Zone which enable the company registration in various sectors. Offshore Company Incorporation allows foreign investors to invest in UAE.
Key factors for doing business in the United Arab Emirates
- The United Arab Emirates is one of the most consolidated infrastructure networks in the Middle East and North Africa (“Mena area”), a reliable banking system, a stable political system and a favorable fiscal climate. Ensures consistent capital flows from across the region with a constant currency (sent to the US dollar).
- There is no restriction on exchange control by many international banks in the United Arab Emirates and repatriation without restrictions on income and capital is easily facilitated.
- A very liberal foreign investment system allows 100% foreign ownership of companies in more than 45 free areas, some of which are specific to the industry.
- Based on the UAE justice system and the culture of tolerance between all members of the community, based on Islamic traditions, the deployment of the United Arab Emirates leadership for peaceful coexistence and common values. The United Arab Emirates represent more than 80% of the workforce and more than 150 nationalities develop their religions and cultures in a safe family environment and one of the lowest crime rates in the world.
- According to the World Bank Group 2016 “World Ease of Business Ranking”, the United Arab Emirates offers companies with the friendliest regulatory environment in the MENA region.
- Global Innovation Indicator In 2017, the United Arab Emirates were in first place in the Middle East and were 35th overall. Moreover, the United Arab Emirates is the first Arab country in the latest report on worldly luck.
- A sign of the success of the government in creating progressive and diverse societies can be measured by the participation of women at the highest level of government. At the moment there are eight female ministers in the cabinet in the United Arab Emirates, three young, tolerant and happy portfolios, nine female members of the federal national council, 23% president and four judges. Women play a growing role in the company.
Types of Incorporation in UAE
Company Formation in UAE is becoming more and easier and user friendly, the government is encouraging new investors and innovative minds, one of the events is going to take place is World Expo 2020, which is going to be held in Dubai. Which will creates massive scope for new business, investment in UAE.