Reasons to Own a Business in the UAE
There seven emirates that constitute the United Arab Emirates offer exemplary business advantages to investors. There is a lot of modernization and latest inventions in this country. The oil discovery in the region lead to an increase in the ranking of the country regarding the national wealth. The country became a hub for investors due to its diverse economy and tourism. In this article, the benefits of being a businessman in the UAE are mentioned.
The economy of this country is always growing and changing. The economy of the UAE has undergone a lot of diversification in the recent past. The growth has been witnessed in the tourism, science and technology industries. The main source of the economic success of the UAE is the petroleum industry. In addition to the petroleum industry, the government has also invested largely in the non-oil related industries. To avoid being left behind in the growing technological inventions, this country has greatly invested in growing their technology industry. The oil business has led to cheaper housing, water, electricity, and gas.
Most of the world’s trading transactions and commerce are found in this country. Some of the most important trade and commerce routes in the world are found in this country. For a while now, this country is recognized for harboring many businesses. 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. As a result of this, it becomes an attractive place for carrying out your business.
The government charges low taxes on goods. As a way to increase the number of businesses in the country, the government imposes low taxes on the business people. It lacks foreign exchange controls, trade barriers and personal taxes thus encouraging international businesses. Exemption of foreign companies in paying income tax is one of the main advantages of having your business in this country. Any person from across the world can receive employment in this country as there exist liberal labor policies that support this.
In this country, you will get a range of technological solutions to use in your business. The telecommunication and IT of UAE has been praised over time. The country can accommodate every type of business since it has highly developed facilities and infrastructure. International companies that do business with this country get a chance to learn the culture of the country. Learning the language ensures that you can communicate well with the people in the country. The information that your employees learn enables them to interact with the people around effectively.