Reasons to Own a Business in the UAE
United Arab Emirates consists of seven emirates which offer distinct business advantages to investors. There is a lot of modernization and latest inventions 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. 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 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 economic success of this country has been greatly influenced by the existence of 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 greatest advantage of the oil industry is the reduction in pricing of housing, water, electricity, and gas.
Most of the world’s trading transactions and commerce are found in this country. The location of UAE is at the center of some trade and commerce routes which are the most important in the world. 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. The country has all the required facilities to accommodate international trade involving state of the art air and maritime ports. All these amenities make this country an appealing place to do business.
The taxes in this country are low. The business people in this country are lucky to pay low taxes to this government. International business people are attracted to the lack of foreign exchange barriers and personal taxes. Exemption of foreign companies in paying income tax is one of the main advantages of having your business in this country. 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. Over the years, this country has been known to have excellent telecommunication and IT. The country can accommodate every type of business since it has highly developed facilities and infrastructure. There are cultural programs run by the government to cater for the international business people. Being able to understand the local and national business culture is important in ensuring that you can successfully operate abroad. As a result of learning the language of this country, your employees will find it easily interact with your customers who will mainly be the Emirati.