Things to Know to Start a Business In The UAE

January 17, 2021
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Tereso sobo
Posted in Business
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High start-up cost may deter many new investors from starting a business in the UAE. However, there are numerous benefits to create a new company in Dubai, including tax relaxation, low import charges, best infrastructure, prime business locations and multi-lingual workforce.

Money Management:

It is expensive to start a business in Dubai, and the money crunch is the central issue to handle. Whether a giant firm as Amazon or IBM or other small firms, both needs to invest hefty initial outlay to gain maximum out of it. Besides this, renting a business place, commercial license, and staffing cost is also additional cost components to run a firm in the UAE.

Favorable business laws and regulations:

It is a developing economy, and the government is trying hard to get investors from many countries. It has a robust legal framework, and the company registration process is straightforward and streamlined, which allows the investors to get their license in 24 hours.

Flexible ownership options:

Business setup in the UAE offers the investor multiple ownership options, either they can choose to hold 49% ownership in all emirates or 100% in free zones. It provides chances for owners to invest in multiple developed sectors.

Easier Currency Exchange:

UAE currency AED has a strong purchasing power, and its strength against other currencies, including USD, give leverage to handle the trade globally. In addition to this, the finance industry gives the competitive edge to stay on the top of the market.

Wider Workforce Market:

The local government has revised labor market policies to add human resources from multiple foreign countries. Well-educated and experienced staff from more than 200 nations attracted to the UAE to utilize their skills in a fast-growing country, and the UAE has a great future. Market research of talent pool is helpful before starting the recruitment process.

Tax incentives for corporate houses:

The UAE government provides a rebate on taxations, withholding charge, and corporate duties. Investors can claim 100% profits, which they can reinvest to expand their business. This can give freedom to investors to enjoy business benefits in a lucrative and growing country. Competitive commerce strategy and structure should be optimized to receive more benefits.

Business investors can choose from 38 free zones to invest, different business categories and structures, and financial leverage to help new investors set up business in the UAE.