Planning to start a new business in UAE? It is a perfect decision as doing business is hassle-free in the UAE. The government encourages both business and investment policy, besides foreign investment. It offers an incentive for starting a business in the UAE.
Related Post: How to Start an Online Business in the UAE
Why consider a business startup in the UAE?
A business startup in one of the wealthiest countries, the UAE, is nothing less than a dream. UAE is renowned for its fidelity to foreign investment. It offers an open policy for international businesses. The reputation of the UAE attracts foreign companies as they provide various schemes. It is a way of promoting to choose the UAE for its exceptional beneficial features.
Foreigners opening their business in the UAE need no Emirati shareholder. The amendments are now to invite more entrepreneurs and to establish companies fully. There are no nationality requirements. Foreign companies can open their branches easily now as the need for the country’s citizen as an agent is canceled. All these changes are due to the pandemic. The UAE is changing policies and welcoming foreign visitors, entrepreneurs, and startups.
The UAE has Dubai, Abu Dhabi, Ajman, Sharjah, Fujairah, Umm al Quwain, and Ras al-Khaimah, seven emirates. Each emirate has its unique procedures. Thus, before you start a new business in UAE, check with their latest details for your safety.
Also Read: 4 Reasons Why Women Make Better Leaders
Advantages in UAE free zones
- The UAE free zones permit creating business startups without a local sponsor’s partnership. It is aiming to invite foreign investors. However, these zones belong to the state territory and feature custom duties, taxation, etc.
- There are many free zones in the UAE, Sharjah free zone, Dubai free zone, RAK free zone, and more. Some are reserved, and others are providing licenses for businesses.
- The biggest advantage of the free zone is the income source from leasing office spaces. The free zones conduct their administration, and so the licensing fees also vary.
The key advantages of the free zones are:
- Ownership of shares of a company for 100% without any local agent involvement.
- You can send profits and capital back home, and there are no restrictions on the currency.
- Duty-free goods import, exemption from personal, corporate, or income taxes.
- Excellent communications and infrastructure.
- Resident visas are readily available.
Opening in the UAE a business startup will ensure benefits:
Developed infrastructure- There are business centers, industrial facilities, and offices in a large number. At the same time, new buildings are in construction constantly.
Registration for offshore and on-shore companies is possible as the process of registration is quick. Doing it with professional consultants is helpful as it creates no obstacles in fulfilling the constituent documents.
Also Read: How to Create a QR Code: The Steps Explained
A glance at the benefits of doing in the UAE
It is a growing economy and dynamic attracting foreign investors and global companies. The wealthy emirates have a stable financial climate that, right from multi-million dollar conglomerates to startups, thrives.
Foreign ex-pats planning to set up business in the UAE can enjoy procedures and minimal documentation. Thus, setting up of a business startup, business registration, licensing, etc. is easy.
UAE government permits foreign participation to 100 percent. A long-term visa is for 10-years for professionals, property owners, and business owners in the new international visa system. The country also offers incentives to the businesses operating in free zones.
The UAE’s economy is showing significant growth and is attracting business startups aiming to bring in foreign investors. It is a hassle-free business setting up process.