Why UAE Is A Good Place To Start A Business?
Starting a business in the UAE is an uncomplicated and hassle-free. The visionary government has always had pro-investment and pro-business policies, and has encouraged foreign investment. In fact, in the UAE, those who setup business are even offered incentives. Redtape is minimal, procedures are simple, and is taxation is almost non-existent. The government of the UAE had the foresight to realise that backing new businesses will help sustain their economy in the long run. Due to all these reasons, the UAE is the ideal place to setup company or open an offshore branch. Alya Al Marzooqi Auditing Chartered Accountants
are always there to help you with a group of enthusiastic business consultants for all your business related queries.
Let’s examine the reasons for Doing Business in Dubai in some detail:
Growing and Diverse Economy
: the economy of Dubai is a dynamic and constantly growing one, which is why it is so attractive to companies from all over the world who are interested in company formation in an offshore location. This wealthy Emirate has a stable financial climate which helps a wide range of businesses from start-ups to multimillion dollar conglomerates to operate successfully.
entirely different set of rules and regulations (except for criminal law) are applicable to foreign investors who want to set up business in Dubai. Paperwork is minimal and procedures are fast tracked so that it becomes extremely easy for company setup, licensing and registration and so on.
the governing bodies of the free zones provide excellent infrastructure and warehousing, office spaces, power supply, connectivity, and so on.
Availability of Manpower:
there is no shortage of manpower in the UAE and especially so in Dubai. Both skilled and unskilled labour flock to the UAE in search of opportunity as wages are high and taxes low, or non-existent. It is therefore easy for a new company to find the requisite manpower for their operations.
Investment Support and Promotion by the Government:
the government provides several pre-and post-support services to investors doing business in Dubai or elsewhere in the UAE, like help with documents, licenses, certificates, postcodes and so on.
There are several special areas within the UAE which have special tax customs and imports rules and regulations; these are called Free Zones. In the UAE are over 35 free zones which are spread across Dubai, Abu Dhabi, Sharjah, Ras Al Khaima, Fujaira, Ajman, and Um Al Quwain. These free zones are also spread across the mainland airports and seaports.
The special benefits of these free zones are:
- Complete exemption from import and export tax
- Possibility for complete foreign ownership of the company
- No corporate tax for up to 50 years
- Exemption from personal income taxes
- Possible to repatriate the entire capital and profits
- Support services like assistance with hiring, sponsorship, housing, and so on.
Generally a Free zone is meant for certain specific categories of industry and licenses are provided only to those companies functioning under those categories. Probably the most famous of these is the Dubai airport free zone.
Open Trading Hub
: being a member of the World Trade Organisation, Dubai encourages open trade and has established stable trade relations with several countries in Asia and Europe and North America. In fact, it is a kind of meeting point between the east and west as far as international trade is concerned.
Quality Lifestyle and Culture of Excellence:
Dubai is perhaps the most cosmopolitan of all the emirates within the UAE, thus making it a popular destination for tourism and business alike. Home to many of the world’s biggest brands, it is a shoppers’ paradise. Dubai also hosts several trade shows and exhibitions, allowing businesses to showcase their best to the world.
early on itself, the rulers foresaw the potential this tiny island nation had to be a business hub and accordingly, introduced legislations that set the wheels in motion.
Let’s take a look at the best places to start a new business in the UAE:
: probably the most popular destination for starting a company in UAE due to its liberal cultural atmosphere. The DAFZ, or Dubai Airport Free Zone, is the leading Free zone service provider in the UAE. Established in 1996, the governing body of the DAFZ provides organisations with a modern and inclusive base to conduct business. Other free zones in Dubai include the International Finance Centre, Gold And Diamond Park, Industrial City, Internet city, and so on.
the Khalifa Industrial zone, or KIZAD, is the largest and one of the best planned industrial free zones in Abu Dhabi. It supports manufacture, logistics, and trade. Companies can enjoy low operating costs and comprehensive and innovative infrastructure. The Abu Dhabi Airport Business City owns, operates, develops, and manages free zones around the airports.
The Airport International Free Zone is the premier Free Zone in Sharjah that encourages foreign investments.
Ras Al Khaima:
This Emirate chiefly provides the RAK Investment Authority Free zone, the Ras Al Khaima Free Trade Zone, and the Ras Al Khaima Media Free Zone to foreign investors.
this Free Zone located at the western end of Dubai. Started in 1985, it provides ready-made facilities to customers, and has now expanded to include light industrial units.
Other convenient free zones in the UAE for business setup include Hamriyah, Jumeirah Lakes Towers free zone, Fujaira Creative City and so on.
How does Alya Almarzooqi Auditors and Chartered Accountants help for starting a company inUAE?
Before starting any business anywhere in the world, it is important to conduct a feasibility study to know what your prospects for success in that particular industry and geographical location are. This is the first step in the process of business setup. This is where we, Alya, step in as business consultants. We help by conducting market research and a feasibility study, and can offer expert advice throughout the way. This includes guidance and/or assistance with the following:
- Legal issues relating to the business structure
- Finding the appropriate location for the new venture
- The preparation and submission of the requisite documents
- Liaising with the authorities to obtain the requisite approvals and certificates
- Visa, immigration and labour card support services
- License renewal reminders and liaising with authorities for the same
- Provision of secretarial services for the new company
Our in-depth knowledge of offshore company formation in UAE has enabled us to assist in the incorporation of over 300 companies in the UAE Free Trade Zones. We believe in delivering comprehensive service to our clients after understanding the exact requirements. We are happy to stay that with our professional and client centric approach we have been able to build long-lasting relationships with our clients. The expertise and dedication shown by our team will ensure that you have smooth sailing as far as your company incorporation in Dubai or elsewhere in the UAE is concerned. We take care of the nitty-gritty so that you can just focus on your core business and in growth. We are passionate about our work and take pride in delivering customised solutions that not just meet client expectations but exceed them.
Our expertise includes the following areas:
- Accountancy, analysis, financial consultancy, taxation, corporate finance
- Business Consultancy
- Company Formation
- Turnkey solutions for clients requirements
- In-depth knowledge of the Middle East market especially the UAE, and regulations connected with company registration in the region
Our team is not only focused and professional, but is consistent in offering tailor-made solutions and getting results that are time bound and cost-effective. Alya Almarzooqi Auditors and Chartered Accountants
also has excellent working relations with government agencies, decision-makers and others in power.